Baird Financial Group Inc. Takes Position in HealthEquity, Inc. $HQY

Key Points

• Baird Financial Group Inc. invested $848,000 in HealthEquity, Inc. by acquiring 9,598 shares during the first quarter.
• The institutional ownership of HealthEquity is high, with 99.55% of the stock held by institutional investors and hedge funds increasing their stakes.
• HealthEquity received positive updates from analysts, with price targets raised by firms such as Jefferies Financial Group and JPMorgan Chase, indicating strong growth potential.

Baird Financial Group Inc. bought a new stake in HealthEquity, Inc. (NASDAQ:HQY - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,598 shares of the company's stock, valued at approximately $848,000.

Several other hedge funds and other institutional investors have also made changes to their positions in HQY. Invesco Ltd. raised its stake 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 acquiring an additional 821,425 shares during the period. Nuveen LLC purchased a new stake in shares of HealthEquity in the first quarter valued at $53,076,000. Price T Rowe Associates Inc. MD raised its stake in shares of HealthEquity by 995.6% in 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 acquiring an additional 580,988 shares during the period. Westfield Capital Management Co. LP bought a new position in shares of HealthEquity in the first quarter worth about $49,787,000. Finally, Ameriprise Financial Inc. grew its holdings in shares of HealthEquity by 148.1% in the first quarter. Ameriprise Financial Inc. now owns 669,939 shares of the company's stock worth $59,203,000 after purchasing an additional 399,897 shares during the last quarter. Hedge funds and other institutional investors own 99.55% of the company's stock.

Insider Transactions at HealthEquity

In other news, EVP Michael Henry Fiore sold 1,794 shares of the firm's 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 sale, the executive vice president directly owned 53,225 shares in the company, valued at approximately $5,414,579.25. This trade represents a 3.26% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HQY. Wall Street Zen upgraded shares of HealthEquity from a "hold" rating to a "buy" rating in a report on Friday, June 6th. Jefferies Financial Group upped their price target on shares of HealthEquity from $130.00 to $134.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. JPMorgan Chase & Co. upped their price target on shares of HealthEquity from $125.00 to $126.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of HealthEquity from $98.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, June 5th. Finally, JMP Securities upped their price target on shares of HealthEquity from $110.00 to $117.00 and gave the stock a "market outperform" rating in a report on Wednesday, June 4th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, HealthEquity presently has an average rating of "Buy" and an average price target of $119.77.

HealthEquity Stock Up 0.6%

HealthEquity stock traded up $0.53 during midday trading on Monday, hitting $93.02. 916,798 shares of the company's stock were exchanged, compared to its average volume of 1,205,472. The company has a debt-to-equity ratio of 0.47, a quick ratio of 4.23 and a current ratio of 4.23. HealthEquity, Inc. has a 12 month low of $74.07 and a 12 month high of $116.65. The firm has a 50-day moving average of $93.28 and a two-hundred day moving average of $94.22. The company has a market cap of $8.01 billion, a PE ratio of 56.38, a P/E/G ratio of 1.33 and a beta of 0.50.

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.