BlackRock Inc. purchased a new position in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 11,277,914 shares of the company's stock, valued at approximately $1,018,621,000. BlackRock Inc. owned approximately 13.49% of HealthEquity as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Wasatch Advisors LP grew its stake in shares of HealthEquity by 10.5% in the second 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 last quarter. Geode Capital Management LLC lifted its stake in shares of HealthEquity by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 2,201,232 shares of the company's stock valued at $201,685,000 after buying an additional 5,671 shares during the period. Westfield Capital Management Co. LP grew its position in HealthEquity by 13.7% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,952,452 shares of the company's stock worth $178,864,000 after buying an additional 235,794 shares in the last quarter. William Blair Investment Management LLC acquired a new position in HealthEquity in the 4th quarter valued at approximately $169,956,000. Finally, AQR Capital Management LLC lifted its position in shares of HealthEquity by 59.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,764,268 shares of the company's stock worth $167,200,000 after acquiring an additional 656,820 shares during the period. Institutional investors and hedge funds own 99.55% of the company's stock.
Insider Buying and Selling at HealthEquity
In related news, EVP Michael Henry Fiore sold 3,142 shares of the firm's stock in a transaction on Friday, May 29th. The shares were sold at an average price of $95.00, for a total transaction of $298,490.00. Following the sale, the executive vice president directly owned 59,113 shares in the company, valued at $5,615,735. This trade represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Delano Ladd sold 7,500 shares of the business's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $90.00, for a total transaction of $675,000.00. Following the completion of the sale, the executive vice president directly owned 91,141 shares in the company, valued at $8,202,690. This represents a 7.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 17,905 shares of company stock valued at $1,651,280. Company insiders own 1.60% of the company's stock.
Wall Street Analysts Forecast Growth
HQY has been the topic of several analyst reports. Weiss Ratings raised shares of HealthEquity from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, June 5th. Citizens Jmp increased 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. Citigroup reissued a "market outperform" rating on shares of HealthEquity in a report on Monday, June 1st. BTIG Research boosted their target price on shares of HealthEquity from $110.00 to $115.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Finally, Royal Bank Of Canada upped their target price on shares of HealthEquity from $100.00 to $108.00 and gave the stock an "outperform" rating in a report on Wednesday, June 3rd. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, HealthEquity currently has a consensus rating of "Moderate Buy" and an average price target of $110.93.
Get Our Latest Research Report on HealthEquity
HealthEquity Stock Up 1.1%
HealthEquity stock opened at $105.41 on Friday. The company's 50 day simple moving average is $96.64 and its 200 day simple moving average is $87.20. HealthEquity, Inc. has a fifty-two week low of $72.76 and a fifty-two week high of $107.62. The firm has a market capitalization of $8.81 billion, a price-to-earnings ratio of 39.48, a PEG ratio of 1.75 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 (NASDAQ:HQY - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The company reported $1.24 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $352.02 million. The company's revenue for the quarter was up 7.2% compared to the same quarter last year. 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
(
Free Report)
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.
Further Reading
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