Bank of America Corp DE Purchases 261,150 Shares of HealthEquity, Inc. $HQY

Key Points

• Bank of America increased its HealthEquity stake by 43.5% in the first quarter, purchasing 261,150 shares and bringing its total to 862,008 shares valued at approximately $72 million. Institutional investors collectively own 99.55% of HQY.
• Analysts maintain a generally positive outlook, with 11 Buy ratings, one Hold and one Sell; the stock has an average rating of “Moderate Buy” and an average price target of $110.93.
• HealthEquity exceeded quarterly expectations, reporting $1.24 in adjusted earnings per share versus the $1.11 consensus and $354.64 million in revenue, up 7.2% year over year. Shares opened at $104.63, near their 52-week high of $106.42.

Bank of America Corp DE grew its position in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 43.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 862,008 shares of the company's stock after buying an additional 261,150 shares during the quarter. Bank of America Corp DE owned 1.03% of HealthEquity worth $72,038,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in HQY. Janus Henderson Group PLC lifted its position in HealthEquity by 3.7% in the 1st quarter. Janus Henderson Group PLC now owns 850,411 shares of the company's stock valued at $71,068,000 after acquiring an additional 30,178 shares in the last quarter. Amundi raised its stake in shares of HealthEquity by 2,130.8% in the first quarter. Amundi now owns 67,592 shares of the company's stock worth $5,649,000 after purchasing an additional 64,562 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of HealthEquity by 21.2% in the first quarter. EverSource Wealth Advisors LLC now owns 65,890 shares of the company's stock worth $5,506,000 after purchasing an additional 11,545 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of HealthEquity by 23.7% during the first quarter. California State Teachers Retirement System now owns 100,604 shares of the company's stock valued at $8,407,000 after purchasing an additional 19,288 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of HealthEquity by 230.4% during the first quarter. Quantinno Capital Management LP now owns 44,162 shares of the company's stock valued at $3,691,000 after purchasing an additional 30,797 shares in the last quarter. Institutional investors own 99.55% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on HQY shares. Barrington Research reissued an "outperform" rating and issued a $110.00 target price on shares of HealthEquity in a research report on Friday, May 22nd. Citizens Jmp raised their price target on shares of HealthEquity from $110.00 to $111.00 and gave the company a "market outperform" rating in a report on Monday, June 1st. BTIG Research lifted their price target on shares of HealthEquity from $110.00 to $115.00 and gave the stock a "buy" rating in a research note on Friday, July 24th. Royal Bank Of Canada boosted their price objective on shares of HealthEquity from $100.00 to $108.00 and gave the company an "outperform" rating in a report on Wednesday, June 3rd. Finally, Wall Street Zen cut shares of HealthEquity from a "buy" rating to a "hold" rating in a report on Saturday. Eleven equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $110.93.

Insider Activity

In other news, EVP Michael Henry Fiore sold 2,354 shares of the stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $95.00, for a total value of $223,630.00. Following the transaction, the executive vice president owned 52,244 shares in the company, valued at $4,963,180. This represents a 4.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Delano Ladd sold 7,500 shares of the stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $90.00, for a total transaction of $675,000.00. Following the completion of the transaction, the executive vice president owned 91,141 shares in the company, valued at $8,202,690. This trade represents a 7.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 17,905 shares of company stock valued at $1,651,280 in the last quarter. 1.60% of the stock is currently owned by insiders.

HealthEquity Stock Performance

Shares of HQY opened at $104.63 on Monday. The firm has a market capitalization of $8.75 billion, a P/E ratio of 39.19, a PEG ratio of 1.76 and a beta of 0.21. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.44 and a quick ratio of 3.44. HealthEquity, Inc. has a one year low of $72.76 and a one year high of $106.42. The business has a fifty day moving average of $93.37 and a 200 day moving average of $85.79.

HealthEquity (NASDAQ:HQY - Get Free Report) last posted its earnings results on Thursday, May 28th. The company reported $1.24 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.13. The company had revenue of $354.64 million for the quarter, compared to the consensus estimate of $352.02 million. HealthEquity had a return on equity of 14.75% and a net margin of 17.25%.The business's quarterly revenue was up 7.2% on a year-over-year basis. HealthEquity has set its FY 2027 guidance at 2.880-2.950 EPS. As a group, sell-side analysts anticipate that HealthEquity, Inc. will post 3.92 EPS for the current year.

About HealthEquity

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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