HealthEquity (NASDAQ:HQY) Sets New 1-Year High – Here’s What Happened

HealthEquity, Inc. (NASDAQ:HQY)’s stock price reached a new 52-week high during trading on Wednesday. The stock traded as high as $107.80 and last traded at $107.5850, with a volume of 353,609 shares traded. The stock had previously closed at $102.03.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. BMO Capital Markets raised their price target on shares of HealthEquity from $105.00 to $125.00 and gave the company an “outperform” rating in a research report on Wednesday, October 21st. BTIG Research reissued a “buy” rating and set a $115.00 price objective on shares of HealthEquity in a report on Friday, August 28th. Weiss Ratings raised HealthEquity from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. Citigroup reissued a “market outperform” rating on shares of HealthEquity in a research note on Friday, August 28th. Finally, Wall Street Zen upgraded HealthEquity from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, HealthEquity presently has an average rating of “Moderate Buy” and a consensus target price of $113.53.

HealthEquity Stock Performance

The company has a debt-to-equity ratio of 0.47, a current ratio of 2.99 and a quick ratio of 2.99. The company’s fifty day moving average price is $95.27 and its 200 day moving average price is $89.22. The company has a market cap of $8.92 billion, a PE ratio of 38.87, a P/E/G ratio of 1.64 and a beta of 0.22.

HealthEquity (NASDAQ:HQY) last released its quarterly earnings results on Thursday, August 27th. The company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.05. The business had revenue of $350.73 million for the quarter, compared to analysts’ expectations of $349.22 million. HealthEquity had a net margin of 17.36% and a return on equity of 15.33%. The firm’s revenue for the quarter was up 95.5% on a year-over-year basis. HealthEquity has set its FY 2027 guidance at 4.660-4.730 EPS. On average, equities research analysts predict that HealthEquity, Inc. will post 3.94 earnings per share for the current year.

Insider Activity at HealthEquity

In related news, Director Adrian Dillon sold 7,632 shares of HealthEquity stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $104.61, for a total transaction of $798,383.52. Following the sale, the director directly owned 62,395 shares in the company, valued at approximately $6,527,140.95. This trade represents a 10.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in HealthEquity during the 2nd quarter valued at about $1,018,621,000. Wasatch Advisors LP lifted its holdings in shares of HealthEquity by 10.5% in the second quarter. Wasatch Advisors LP now owns 7,960,735 shares of the company’s stock worth $719,014,000 after buying an additional 757,801 shares in the last quarter. William Blair Investment Management LLC purchased a new stake in shares of HealthEquity in the second quarter worth about $160,158,000. Dimensional Fund Advisors LP boosted its position in shares of HealthEquity by 2.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,627,039 shares of the company’s stock valued at $135,957,000 after acquiring an additional 45,287 shares during the period. Finally, Bank of America Corp DE bought a new position in shares of HealthEquity in the second quarter valued at approximately $103,573,000. Institutional investors own 99.55% of the company’s stock.

About HealthEquity

HealthEquity, Inc provides technology-enabled benefits administration and financial services that help employers and individuals manage tax-advantaged healthcare accounts. The company’s offerings include health savings accounts (HSAs), flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), and other consumer-directed benefits.

In addition to account administration, HealthEquity provides payment cards, investment options for eligible account holders, employee engagement tools, and digital platforms for managing healthcare benefits.