Baird Financial Group Inc. Takes $848,000 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 position in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 9,598 shares of the company's stock, valued at approximately $848,000.

Other hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. raised its position in shares of HealthEquity by 56.4% during the 4th quarter. Ameriprise Financial Inc. now owns 270,042 shares of the company's stock valued at $25,911,000 after acquiring an additional 97,329 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of HealthEquity during the 4th quarter valued at approximately $1,418,000. Captrust Financial Advisors raised its position in shares of HealthEquity by 117.7% during the 4th quarter. Captrust Financial Advisors now owns 21,959 shares of the company's stock valued at $2,107,000 after acquiring an additional 11,871 shares in the last quarter. Brevan Howard Capital Management LP acquired a new stake in shares of HealthEquity during the 4th quarter valued at approximately $200,000. Finally, Cetera Investment Advisers raised its position in shares of HealthEquity by 6.7% during the 4th quarter. Cetera Investment Advisers now owns 3,572 shares of the company's stock valued at $343,000 after acquiring an additional 225 shares in the last quarter. Institutional investors and hedge funds own 99.55% of the company's stock.

HealthEquity Stock Up 0.2%

HealthEquity stock traded up $0.15 during mid-day trading on Friday, hitting $92.49. The company's stock had a trading volume of 616,085 shares, compared to its average volume of 1,219,389. The firm's 50 day moving average is $93.46 and its 200 day moving average is $94.50. The company has a market cap of $7.97 billion, a PE ratio of 56.05, a price-to-earnings-growth ratio of 1.32 and a beta of 0.50. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.23 and a quick ratio of 4.23. HealthEquity, Inc. has a 52-week low of $74.07 and a 52-week high of $116.65.

Insider Transactions at HealthEquity

In related news, EVP Michael Henry Fiore sold 1,794 shares of the company's stock in a transaction on 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 directly owned 53,225 shares in the company, valued at approximately $5,414,579.25. This represents a 3.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.50% of the stock is owned by company insiders.

Analyst Ratings Changes

HQY has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on HealthEquity from $125.00 to $126.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Bank of America lifted their target price on HealthEquity from $110.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Jefferies Financial Group raised their price objective on shares of HealthEquity from $130.00 to $134.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Wall Street Zen upgraded shares of HealthEquity from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Finally, Barrington Research reiterated an "outperform" rating and set a $125.00 price objective on shares of HealthEquity in a research report on Friday, August 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, HealthEquity currently has an average rating of "Buy" and an average price target of $119.77.

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.