Montanaro Asset Management Ltd Acquires New Shares in HealthEquity, Inc. (NASDAQ:HQY)

Key Points

• Montanaro Asset Management Ltd acquired 15,300 shares of HealthEquity, Inc. (NASDAQ: HQY) valued at approximately $1.35 million in the 1st quarter, according to a recent SEC filing.
• Several hedge funds, including Invesco Ltd and Brown Advisory Inc., have increased their positions in HealthEquity, indicating strong confidence in the company's performance.
• Wall Street analysts have raised their price targets for HealthEquity, with Barrington Research setting a new target of $125 and maintaining an "outperform" rating.

Montanaro Asset Management Ltd bought a new position in HealthEquity, Inc. (NASDAQ:HQY - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 15,300 shares of the company's stock, valued at approximately $1,352,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HQY. Versant Capital Management Inc purchased a new stake in HealthEquity in the 1st quarter worth approximately $28,000. Transce3nd LLC bought a new position in HealthEquity in the 4th quarter worth approximately $29,000. Larson Financial Group LLC boosted its stake in HealthEquity by 1,366.0% in the 1st quarter. Larson Financial Group LLC now owns 689 shares of the company's stock worth $61,000 after purchasing an additional 642 shares during the period. Whipplewood Advisors LLC boosted its stake in HealthEquity by 5,060.0% in the 1st quarter. Whipplewood Advisors LLC now owns 774 shares of the company's stock worth $68,000 after purchasing an additional 759 shares during the period. Finally, UMB Bank n.a. boosted its stake in HealthEquity by 104.8% in the 1st quarter. UMB Bank n.a. now owns 848 shares of the company's stock worth $75,000 after purchasing an additional 434 shares during the period. 99.55% of the stock is owned by hedge funds and other institutional investors.

HealthEquity Trading Up 2.8%

HQY traded up $2.46 during trading on Friday, reaching $89.89. The company had a trading volume of 894,425 shares, compared to its average volume of 838,496. The stock has a market cap of $7.77 billion, a P/E ratio of 65.61, a PEG ratio of 1.35 and a beta of 0.54. The business has a 50 day simple moving average of $98.42 and a 200-day simple moving average of $97.35. HealthEquity, Inc. has a 52 week low of $72.79 and a 52 week high of $116.65. The company has a quick ratio of 4.06, a current ratio of 4.06 and a debt-to-equity ratio of 0.50.

HealthEquity (NASDAQ:HQY - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.16. HealthEquity had a return on equity of 11.01% and a net margin of 9.80%. The company had revenue of $330.80 million during the quarter, compared to the consensus estimate of $322.25 million. During the same period last year, the company earned $0.80 earnings per share. On average, equities analysts anticipate that HealthEquity, Inc. will post 2.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wall Street Zen upgraded HealthEquity from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Raymond James Financial restated a "strong-buy" rating and issued a $120.00 price target (up from $115.00) on shares of HealthEquity in a research note on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft upped their price target on HealthEquity from $98.00 to $115.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Bank of America increased their target price on HealthEquity from $110.00 to $125.00 and gave the company a "buy" rating in a research report on Wednesday, June 4th. Finally, Royal Bank Of Canada increased their target price on HealthEquity from $112.00 to $117.00 and gave the company an "outperform" rating in a research report on Wednesday, June 4th. One analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $118.55.

Insider Transactions at HealthEquity

In other news, Director Jon Kessler sold 97,767 shares of HealthEquity stock in a transaction on Friday, June 6th. The stock was sold at an average price of $112.05, for a total transaction of $10,954,792.35. Following the completion of the sale, the director directly owned 75,000 shares in the company, valued at approximately $8,403,750. This trade represents a 56.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael Henry Fiore sold 1,794 shares of HealthEquity stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $101.73, for a total value of $182,503.62. Following the completion of the sale, the executive vice president owned 53,225 shares of the company's stock, valued at $5,414,579.25. The trade was a 3.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 291,744 shares of company stock worth $32,705,007. 1.50% of the stock is currently owned by insiders.

HealthEquity 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.