Bank of America Corp DE Invests $103.57 Million in HealthEquity, Inc. $HQY

Key Points

• Bank of America acquired 1.15 million HealthEquity shares worth approximately $103.6 million, giving it a 1.37% stake. Institutional investors collectively own 99.55% of HQY.
• HealthEquity exceeded quarterly expectations, reporting $1.24 in earnings per share versus the $1.19 consensus and $350.7 million in revenue, up 95.5% year over year.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $112.20 target price, although insiders sold 12,456 shares worth about $1.26 million over the past three months.

Bank of America Corp DE acquired a new stake in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,146,735 shares of the company's stock, valued at approximately $103,573,000. Bank of America Corp DE owned 1.37% of HealthEquity at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Leonteq Securities AG increased its holdings in HealthEquity by 159.9% in the 1st quarter. Leonteq Securities AG now owns 382 shares of the company's stock valued at $32,000 after buying an additional 235 shares during the period. Silvant Capital Management LLC bought a new position in shares of HealthEquity during the 2nd quarter worth about $35,000. Axiom Investment Management LLC bought a new position in shares of HealthEquity during the 1st quarter worth about $33,000. Caitong International Asset Management Co. Ltd boosted its position in shares of HealthEquity by 2,476.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 438 shares of the company's stock valued at $40,000 after acquiring an additional 421 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its position in shares of HealthEquity by 18,333.3% during the 1st quarter. International Assets Investment Management LLC now owns 553 shares of the company's stock valued at $46,000 after acquiring an additional 550 shares in the last quarter. 99.55% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at HealthEquity

In other HealthEquity news, EVP Michael Fiore sold 2,470 shares of the stock in a transaction on Thursday, July 2nd. The shares were sold at an average price of $95.00, for a total value of $234,650.00. Following the sale, the executive vice president directly owned 56,643 shares in the company, valued at approximately $5,381,085. This trade represents a 4.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Adrian T. Dillon sold 7,632 shares of the business's stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $104.61, for a total transaction of $798,383.52. Following the completion of the transaction, the director directly owned 62,395 shares of the company's stock, valued at $6,527,140.95. This trade represents a 10.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 12,456 shares of company stock worth $1,256,664 in the last three months. 1.60% of the stock is owned by insiders.

Analysts Set New Price Targets

HQY has been the subject of several recent research reports. Wall Street Zen lowered shares of HealthEquity from a "buy" rating to a "hold" rating in a research report on Saturday, September 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on HealthEquity from $135.00 to $142.00 and gave the company a "buy" rating in a report on Monday, August 31st. Citigroup reiterated a "market outperform" rating on shares of HealthEquity in a research note on Friday, August 28th. Weiss Ratings raised HealthEquity from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday. Finally, Citizens Jmp raised their target price on HealthEquity from $110.00 to $111.00 and gave the stock a "market outperform" rating in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $112.20.

HealthEquity Stock Up 0.7%

Shares of HealthEquity stock opened at $95.14 on Friday. The business has a fifty day simple moving average of $99.62 and a 200 day simple moving average of $89.91. The stock has a market cap of $7.87 billion, a PE ratio of 34.35, a price-to-earnings-growth ratio of 1.49 and a beta of 0.22. The company has a quick ratio of 2.99, a current ratio of 2.99 and a debt-to-equity ratio of 0.47. HealthEquity, Inc. has a 12 month low of $72.76 and a 12 month high of $107.62.

HealthEquity (NASDAQ:HQY - Get Free Report) last released its earnings results on Thursday, August 27th. The company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.05. The firm had revenue of $350.73 million for the quarter, compared to analyst estimates of $349.22 million. HealthEquity had a return on equity of 15.33% and a net margin of 17.36%.The company's revenue was up 95.5% compared to the same quarter last year. HealthEquity has set its FY 2027 guidance at 4.660-4.730 EPS. Research analysts predict that HealthEquity, Inc. will post 3.93 EPS for the current year.

HealthEquity Profile

HealthEquity, Inc provides technology-enabled services for consumer-directed benefits and healthcare savings accounts. The company helps employers, benefits advisors and individuals manage tax-advantaged accounts, including health savings accounts (HSAs), flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), commuter benefits and other employee benefit programs.

Its offerings include account administration, payment cards, reimbursement services, benefits communication, compliance support, healthcare spending tools and investment options for eligible HSA funds.

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