Fortis Capital Advisors LLC Makes New Investment in HealthEquity, Inc. $HQY

Key Points

• Fortis Capital Advisors LLC acquired 8,550 shares of HealthEquity, Inc. valued at approximately $756,000 during the 1st quarter.
• Several hedge funds have increased their stakes in HealthEquity, with Invesco Ltd. raising its stake by 50.6% and Price T Rowe Associates increasing it by a staggering 995.6% in the same quarter.
• HealthEquity's stock received upgrades from multiple analysts, with Deutsche Bank raising the price target from $98.00 to $115.00 and maintaining a "buy" rating.

Fortis Capital Advisors LLC acquired a new position in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,550 shares of the company's stock, valued at approximately $756,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HQY. Invesco Ltd. raised its position in shares of HealthEquity by 50.6% in the first quarter. Invesco Ltd. now owns 2,446,198 shares of the company's stock valued at $216,171,000 after buying an additional 821,425 shares in the last quarter. Nuveen LLC acquired a new position in HealthEquity during the first quarter valued at approximately $53,076,000. Price T Rowe Associates Inc. MD raised its position in HealthEquity by 995.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 639,345 shares of the company's stock valued at $56,500,000 after purchasing an additional 580,988 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of HealthEquity during the first quarter worth $49,787,000. Finally, Ameriprise Financial Inc. increased its holdings in shares of HealthEquity by 148.1% during the first quarter. Ameriprise Financial Inc. now owns 669,939 shares of the company's stock worth $59,203,000 after buying an additional 399,897 shares in the last quarter. 99.55% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HQY has been the subject of several research analyst reports. Barrington Research reiterated an "outperform" rating and set a $125.00 price target on shares of HealthEquity in a report on Friday, August 29th. Bank of America boosted their price objective on shares of HealthEquity from $110.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. Raymond James Financial reissued a "strong-buy" rating and set a $120.00 price objective (up previously from $115.00) on shares of HealthEquity in a research report on Tuesday, July 8th. Royal Bank Of Canada increased their price objective on shares of HealthEquity from $109.00 to $110.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 3rd. Finally, Jefferies Financial Group increased their price objective on shares of HealthEquity from $130.00 to $134.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $119.77.

Insider Buying and Selling

In other HealthEquity news, EVP Michael Henry Fiore sold 1,794 shares of the business's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $101.73, for a total value of $182,503.62. Following the sale, the executive vice president directly owned 53,225 shares of the company's stock, valued at approximately $5,414,579.25. The trade was a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.50% of the company's stock.

HealthEquity Trading Down 2.6%

NASDAQ HQY traded down $2.41 on Tuesday, hitting $90.61. The company's stock had a trading volume of 199,351 shares, compared to its average volume of 1,035,515. HealthEquity, Inc. has a 52-week low of $74.07 and a 52-week high of $116.65. The company has a current ratio of 4.23, a quick ratio of 4.23 and a debt-to-equity ratio of 0.47. The company's 50-day simple moving average is $93.28 and its 200 day simple moving average is $94.22. The firm has a market cap of $7.81 billion, a P/E ratio of 55.02, a PEG ratio of 1.33 and a beta of 0.50.

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.