Bamco Inc. NY Invests $67.78 Million in HealthEquity, Inc. $HQY

Key Points

• Bamco Inc. NY acquired 750,394 HealthEquity shares worth approximately $67.8 million, representing a 0.90% stake. Institutional investors collectively own 99.55% of HQY.
• Analysts remain broadly positive, with 11 Buy ratings, one Hold and one Sell; the consensus rating is “Moderate Buy” with a target price of $110.93.
• HealthEquity’s latest quarterly results exceeded expectations, with earnings of $1.24 per share and revenue of $354.6 million, up 7.2% year over year. The stock opened at $104.42, near its 52-week high of $107.62.

Bamco Inc. NY bought a new position in HealthEquity, Inc. (NASDAQ:HQY - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 750,394 shares of the company's stock, valued at approximately $67,776,000. Bamco Inc. NY owned 0.90% of HealthEquity as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of HealthEquity during the 2nd quarter valued at about $1,018,621,000. Wasatch Advisors LP raised its stake in HealthEquity by 10.5% during the 2nd quarter. Wasatch Advisors LP now owns 7,960,735 shares of the company's stock worth $719,014,000 after acquiring an additional 757,801 shares during the period. Geode Capital Management LLC raised its stake in HealthEquity by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 2,201,232 shares of the company's stock worth $201,685,000 after acquiring an additional 5,671 shares during the period. Westfield Capital Management Co. LP raised its stake in HealthEquity by 13.7% during the 4th quarter. Westfield Capital Management Co. LP now owns 1,952,452 shares of the company's stock worth $178,864,000 after acquiring an additional 235,794 shares during the period. Finally, William Blair Investment Management LLC purchased a new position in HealthEquity during the fourth quarter valued at approximately $169,956,000. 99.55% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on HQY shares. Weiss Ratings raised HealthEquity from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, June 5th. Citizens Jmp upped their price objective on HealthEquity from $110.00 to $111.00 and gave the stock a "market outperform" rating in a research note on Monday, June 1st. Barrington Research reiterated an "outperform" rating and set a $110.00 target price on shares of HealthEquity in a research report on Friday, May 22nd. Royal Bank Of Canada boosted their price target on HealthEquity from $100.00 to $108.00 and gave the stock an "outperform" rating in a report on Wednesday, June 3rd. Finally, BTIG Research upped their price target on HealthEquity from $110.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $110.93.

Insider Activity

In related news, EVP Michael Henry Fiore sold 2,354 shares of the stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $95.00, for a total value of $223,630.00. Following the completion of the transaction, the executive vice president owned 52,244 shares of the company's stock, valued at approximately $4,963,180. This trade represents a 4.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 7,966 shares of company stock worth $756,770. 1.60% of the stock is currently owned by corporate insiders.

HealthEquity Trading Down 0.9%

HQY stock opened at $104.42 on Thursday. The firm has a fifty day moving average price of $97.77 and a 200 day moving average price of $87.71. HealthEquity, Inc. has a fifty-two week low of $72.76 and a fifty-two week high of $107.62. The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.44 and a current ratio of 3.44. The firm has a market cap of $8.73 billion, a PE ratio of 39.11, a price-to-earnings-growth ratio of 1.77 and a beta of 0.21.

HealthEquity (NASDAQ:HQY - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.13. HealthEquity had a net margin of 17.25% and a return on equity of 14.75%. The company had revenue of $354.64 million for the quarter, compared to analysts' expectations of $352.02 million. The business's quarterly revenue was up 7.2% compared to the same quarter last year. Sell-side analysts anticipate that HealthEquity, Inc. will post 3.92 earnings per share for the current fiscal year.

HealthEquity Profile

HealthEquity, Inc NASDAQ: HQY is a leading administrator of consumer-directed health accounts and related benefit solutions in the United States. Founded in 2002 and headquartered in Draper, Utah, the company specializes in health savings accounts (HSAs) and offers complementary services such as flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), COBRA administration and commuter benefits. Through its technology-driven platform, HealthEquity enables employers, health plans and individuals to streamline account management, improve cost transparency and encourage more informed healthcare spending.

Serving millions of members across all 50 states, HealthEquity leverages an open-architecture ecosystem that integrates with health plans, payroll providers and financial institutions.

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