Comerica Bank Decreases Stake in HealthEquity, Inc. $HQY

Key Points

• Comerica Bank cut its stake in HealthEquity by 92.3% in Q4, selling 316,938 shares and retaining 26,332 shares worth about $2.41 million.
• Other major institutions (Vanguard, Wasatch, AQR, Westfield, Dimensional) increased positions and institutional ownership is 99.55%; HealthEquity also reported an EPS beat ($0.95 vs. $0.90) with revenue up 7.3%, and analysts hold a consensus Moderate Buy rating with a $111.79 target (stock ~ $82.63, market cap $6.98B).

Comerica Bank lessened its position in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 92.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,332 shares of the company's stock after selling 316,938 shares during the quarter. Comerica Bank's holdings in HealthEquity were worth $2,412,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of HealthEquity by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 8,746,255 shares of the company's stock valued at $828,883,000 after acquiring an additional 243,549 shares during the last quarter. Wasatch Advisors LP increased its position in HealthEquity by 3.4% in the third quarter. Wasatch Advisors LP now owns 6,307,675 shares of the company's stock worth $597,778,000 after purchasing an additional 206,611 shares during the last quarter. AQR Capital Management LLC increased its position in HealthEquity by 59.3% in the third quarter. AQR Capital Management LLC now owns 1,764,268 shares of the company's stock worth $167,200,000 after purchasing an additional 656,820 shares during the last quarter. Westfield Capital Management Co. LP raised its stake in HealthEquity by 35.7% during the third quarter. Westfield Capital Management Co. LP now owns 1,716,658 shares of the company's stock valued at $162,688,000 after purchasing an additional 451,450 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in HealthEquity by 2.5% during the third quarter. Dimensional Fund Advisors LP now owns 1,559,008 shares of the company's stock valued at $147,751,000 after purchasing an additional 38,154 shares in the last quarter. Institutional investors own 99.55% of the company's stock.

HealthEquity Trading Up 0.5%

HQY stock opened at $82.63 on Wednesday. HealthEquity, Inc. has a twelve month low of $72.76 and a twelve month high of $116.65. The stock has a market capitalization of $6.98 billion, a price-to-earnings ratio of 33.59, a price-to-earnings-growth ratio of 1.49 and a beta of 0.19. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.45. The firm's fifty day simple moving average is $80.99 and its two-hundred day simple moving average is $87.89.

HealthEquity (NASDAQ:HQY - Get Free Report) last released its earnings results on Tuesday, March 17th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.05. The firm had revenue of $334.59 million during the quarter, compared to analyst estimates of $332.48 million. HealthEquity had a net margin of 16.39% and a return on equity of 13.86%. The company's revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, analysts anticipate that HealthEquity, Inc. will post 3.84 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on HQY. Wall Street Zen raised shares of HealthEquity from a "hold" rating to a "buy" rating in a research note on Saturday, April 11th. JPMorgan Chase & Co. decreased their target price on shares of HealthEquity from $129.00 to $123.00 and set an "overweight" rating on the stock in a research report on Wednesday, March 18th. Barrington Research lowered their price target on shares of HealthEquity from $125.00 to $110.00 and set an "outperform" rating for the company in a report on Wednesday, March 18th. Raymond James Financial set a $100.00 price target on HealthEquity in a research report on Tuesday, February 17th. Finally, BTIG Research reduced their price objective on HealthEquity from $130.00 to $110.00 and set a "buy" rating on the stock in a research note on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, HealthEquity currently has an average rating of "Moderate Buy" and a consensus price target of $111.79.

HealthEquity Company 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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