HealthEquity (NASDAQ:HQY) Sets New 12-Month High – Here’s What Happened

HealthEquity, Inc. (NASDAQ:HQY)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $113.90 and last traded at $112.97, with a volume of 164646 shares. The stock had previously closed at $112.50.

Analysts Set New Price Targets

A number of brokerages have commented on HQY. Barrington Research boosted their target price on shares of HealthEquity from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, December 2nd. The Goldman Sachs Group began coverage on shares of HealthEquity in a report on Friday, November 15th. They issued a “neutral” rating and a $108.00 target price for the company. Mizuho began coverage on shares of HealthEquity in a report on Wednesday, December 4th. They issued an “outperform” rating and a $126.00 target price for the company. JMP Securities boosted their target price on shares of HealthEquity from $105.00 to $107.00 and gave the stock a “market outperform” rating in a report on Tuesday, December 10th. Finally, Bank of America upped their price objective on shares of HealthEquity from $100.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One investment analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $110.71.

HealthEquity Price Performance

The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.51. The stock’s 50 day moving average price is $101.90 and its two-hundred day moving average price is $90.53. The stock has a market cap of $9.87 billion, a price-to-earnings ratio of 104.53, a price-to-earnings-growth ratio of 1.61 and a beta of 0.55.

HealthEquity (NASDAQ:HQY) last issued its earnings results on Monday, December 9th. The company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.71 by ($0.12). HealthEquity had a return on equity of 9.70% and a net margin of 8.41%. During the same quarter in the previous year, the firm posted $0.40 EPS. Equities research analysts forecast that HealthEquity, Inc. will post 2.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert W. Selander sold 5,750 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $111.29, for a total transaction of $639,917.50. Following the sale, the director now owns 78,219 shares in the company, valued at approximately $8,704,992.51. This trade represents a 6.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stuart B. Parker sold 25,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $96.72, for a total transaction of $2,418,000.00. Following the sale, the director now owns 19,061 shares in the company, valued at approximately $1,843,579.92. This represents a 56.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,000 shares of company stock valued at $3,895,788 over the last 90 days. Insiders own 2.20% of the company’s stock.

Institutional Trading of HealthEquity

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HQY. Arcadia Investment Management Corp MI acquired a new stake in shares of HealthEquity in the fourth quarter valued at about $26,000. Smartleaf Asset Management LLC grew its position in shares of HealthEquity by 34.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 384 shares of the company’s stock valued at $37,000 after purchasing an additional 98 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of HealthEquity in the fourth quarter valued at about $39,000. UMB Bank n.a. grew its position in shares of HealthEquity by 65.6% in the fourth quarter. UMB Bank n.a. now owns 414 shares of the company’s stock valued at $40,000 after purchasing an additional 164 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ grew its position in shares of HealthEquity by 1,934.8% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 468 shares of the company’s stock valued at $45,000 after purchasing an additional 445 shares during the period. Institutional investors and hedge funds own 99.55% of the company’s stock.

HealthEquity Company Profile

HealthEquity, Inc provides technology-enabled services platforms to consumers and employers in the United States. The company offers cloud-based platforms for individuals to make health saving and spending decisions, pay healthcare bills, receive personalized benefit information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.