HealthEquity (NASDAQ:HQY) Hits New 52-Week High – Here’s What Happened

HealthEquity, Inc. (NASDAQ:HQY)’s stock price hit a new 52-week high during trading on Wednesday . The company traded as high as $107.70 and last traded at $104.67, with a volume of 554 shares. The stock had previously closed at $104.74.

Analyst Ratings Changes

Several analysts recently weighed in on HQY shares. Barrington Research increased their price target on HealthEquity from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, December 2nd. Bank of America boosted their price target on HealthEquity from $100.00 to $120.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Royal Bank of Canada upped their price target on shares of HealthEquity from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. BTIG Research boosted their target price on shares of HealthEquity from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, JMP Securities boosted their price objective on HealthEquity from $105.00 to $107.00 and gave the company a “market outperform” rating in a research report on Tuesday, December 10th. One equities research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, HealthEquity has an average rating of “Moderate Buy” and an average target price 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 has a market cap of $9.07 billion, a price-to-earnings ratio of 96.06, a price-to-earnings-growth ratio of 1.86 and a beta of 0.54. The stock has a fifty day moving average of $99.44 and a two-hundred day moving average of $87.18.

HealthEquity (NASDAQ:HQY) last released its earnings results on Monday, December 9th. The company reported $0.59 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.71 by ($0.12). HealthEquity had a net margin of 8.41% and a return on equity of 9.70%. During the same quarter in the previous year, the business earned $0.40 earnings per share. On average, equities research analysts anticipate that HealthEquity, Inc. will post 2.32 earnings per share for the current year.

Insider Activity at HealthEquity

In related news, Director Robert W. Selander sold 8,250 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $101.56, for a total transaction of $837,870.00. Following the completion of the sale, the director now directly owns 66,469 shares of the company’s stock, valued at $6,750,591.64. This represents a 11.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stuart B. Parker sold 25,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $96.72, for a total value of $2,418,000.00. Following the completion of the sale, the director now directly owns 19,061 shares of the company’s stock, valued at approximately $1,843,579.92. This trade represents a 56.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 34,289 shares of company stock valued at $3,355,718. Corporate insiders own 2.20% of the company’s stock.

Institutional Trading of HealthEquity

Several large investors have recently made changes to their positions in the stock. Raymond James Trust N.A. grew its stake in shares of HealthEquity by 4.8% in the third quarter. Raymond James Trust N.A. now owns 2,905 shares of the company’s stock worth $238,000 after acquiring an additional 132 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of HealthEquity by 65.6% in the 4th quarter. UMB Bank n.a. now owns 414 shares of the company’s stock worth $40,000 after acquiring an additional 164 shares in the last quarter. Truist Financial Corp grew its holdings in shares of HealthEquity by 7.0% during the second quarter. Truist Financial Corp now owns 2,864 shares of the company’s stock worth $247,000 after purchasing an additional 188 shares during the last quarter. Elk River Wealth Management LLC raised its stake in shares of HealthEquity by 0.3% in the third quarter. Elk River Wealth Management LLC now owns 66,181 shares of the company’s stock worth $5,417,000 after acquiring an additional 217 shares during the last quarter. Finally, Nicolet Advisory Services LLC lifted its holdings in HealthEquity by 5.8% during the 3rd quarter. Nicolet Advisory Services LLC now owns 4,218 shares of the company’s stock worth $330,000 after buying an additional 233 shares in the last quarter. Institutional investors own 99.55% of the company’s stock.

About HealthEquity

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.