Shares of HealthEquity, Inc. (NASDAQ:HQY - Get Free Report) hit a new 52-week high on Wednesday following a better than expected earnings announcement. The company traded as high as $116.00 and last traded at $114.00, with a volume of 410742 shares traded. The stock had previously closed at $103.76.
The company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.16. HealthEquity had a return on equity of 9.70% and a net margin of 8.41%. The business had revenue of $330.80 million for the quarter, compared to the consensus estimate of $322.25 million. During the same quarter in the previous year, the company posted $0.80 earnings per share.
Wall Street Analyst Weigh In
A number of equities research analysts recently commented on HQY shares. Raymond James upgraded HealthEquity from an "outperform" rating to a "strong-buy" rating and decreased their price target for the stock from $120.00 to $115.00 in a research report on Tuesday, March 25th. Bank of America raised their price objective on HealthEquity from $110.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday. The Goldman Sachs Group lifted their price target on HealthEquity from $94.00 to $104.00 and gave the company a "neutral" rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised their price objective on HealthEquity from $98.00 to $115.00 and gave the company a "buy" rating in a report on Thursday. Finally, Royal Bank of Canada lifted their price target on HealthEquity from $112.00 to $117.00 and gave the stock an "outperform" rating in a report on Wednesday. One analyst has rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average target price of $118.09.
Read Our Latest Stock Report on HealthEquity
Insider Buying and Selling at HealthEquity
In other HealthEquity news, Director Robert W. Selander sold 5,750 shares of the firm's stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $77.65, for a total value of $446,487.50. Following the completion of the sale, the director now owns 84,969 shares of the company's stock, valued at $6,597,842.85. This trade represents a 6.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael Henry Fiore sold 8,881 shares of the firm's stock in a transaction that occurred on Friday, April 4th. The stock was sold at an average price of $78.26, for a total transaction of $695,027.06. Following the transaction, the executive vice president now directly owns 56,655 shares in the company, valued at approximately $4,433,820.30. This trade represents a 13.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.50% of the company's stock.
Hedge Funds Weigh In On HealthEquity
Institutional investors have recently bought and sold shares of the business. Wealthfront Advisers LLC purchased a new stake in shares of HealthEquity during the fourth quarter valued at $10,304,089,000. Vanguard Group Inc. raised its holdings in HealthEquity by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 8,976,091 shares of the company's stock valued at $861,256,000 after acquiring an additional 99,624 shares during the last quarter. FMR LLC raised its holdings in HealthEquity by 2.4% in the 4th quarter. FMR LLC now owns 5,415,800 shares of the company's stock valued at $519,646,000 after acquiring an additional 125,684 shares during the last quarter. Invesco Ltd. increased its holdings in shares of HealthEquity by 50.6% during the 1st quarter. Invesco Ltd. now owns 2,446,198 shares of the company's stock worth $216,171,000 after buying an additional 821,425 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of HealthEquity by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,089,398 shares of the company's stock worth $200,522,000 after buying an additional 10,421 shares during the last quarter. 99.55% of the stock is owned by hedge funds and other institutional investors.
HealthEquity Price Performance
The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.51. The company's fifty day moving average is $90.51 and its two-hundred day moving average is $97.67. The stock has a market cap of $9.75 billion, a price-to-earnings ratio of 103.39, a P/E/G ratio of 1.60 and a beta of 0.45.
About HealthEquity
(
Get Free Report)
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.
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