EFG Asset Management North America Corp. Sells 6,228 Shares of HealthEquity, Inc. $HQY

Key Points

• EFG Asset Management North America Corp. reduced its stake in HealthEquity, Inc. by 13.6%, holding 39,419 shares worth $3.48 million after selling 6,228 shares in Q1.
• HealthEquity recently reported earnings of $0.97 per share, exceeding analysts' expectations, with revenue of $330.80 million, surpassing estimates of $322.25 million.
• Analysts have recently increased price targets for HealthEquity, with Bank of America raising theirs from $110 to $125, reflecting a positive outlook on the stock.

EFG Asset Management North America Corp. trimmed its position in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 13.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,419 shares of the company's stock after selling 6,228 shares during the period. EFG Asset Management North America Corp.'s holdings in HealthEquity were worth $3,483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of HQY. Invesco Ltd. raised its holdings in shares of HealthEquity by 50.6% during the 1st quarter. Invesco Ltd. now owns 2,446,198 shares of the company's stock worth $216,171,000 after acquiring an additional 821,425 shares in the last quarter. Nuveen LLC purchased a new stake in shares of HealthEquity during the 1st quarter worth approximately $53,076,000. Price T Rowe Associates Inc. MD raised its holdings in shares of HealthEquity by 995.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 639,345 shares of the company's stock worth $56,500,000 after acquiring an additional 580,988 shares in the last quarter. Westfield Capital Management Co. LP purchased a new stake in shares of HealthEquity during the 1st quarter worth approximately $49,787,000. Finally, Ameriprise Financial Inc. raised its holdings in shares of HealthEquity by 148.1% during the 1st quarter. Ameriprise Financial Inc. now owns 669,939 shares of the company's stock worth $59,203,000 after acquiring an additional 399,897 shares in the last quarter. 99.55% of the stock is owned by hedge funds and other institutional investors.

HealthEquity Trading Up 1.7%

HQY stock traded up $1.58 during midday trading on Monday, reaching $93.06. The company's stock had a trading volume of 1,083,693 shares, compared to its average volume of 1,047,393. The company has a debt-to-equity ratio of 0.47, a quick ratio of 4.23 and a current ratio of 4.23. The stock has a fifty day simple moving average of $94.37 and a two-hundred day simple moving average of $94.86. HealthEquity, Inc. has a 1 year low of $74.07 and a 1 year high of $116.65. The firm has a market capitalization of $8.02 billion, a price-to-earnings ratio of 56.40, a PEG ratio of 1.30 and a beta of 0.50.

Insiders Place Their Bets

In other HealthEquity news, EVP Michael Henry Fiore sold 1,794 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $101.73, for a total value of $182,503.62. Following the sale, the executive vice president owned 53,225 shares in the company, valued at $5,414,579.25. This trade represents a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Wall Street Zen raised HealthEquity from a "hold" rating to a "buy" rating in a report on Friday, June 6th. The Goldman Sachs Group increased their price target on HealthEquity from $94.00 to $104.00 and gave the company a "neutral" rating in a report on Wednesday, June 4th. Deutsche Bank Aktiengesellschaft increased their price target on HealthEquity from $98.00 to $115.00 and gave the company a "buy" rating in a report on Thursday, June 5th. Raymond James Financial restated a "strong-buy" rating and set a $120.00 price target (up previously from $115.00) on shares of HealthEquity in a report on Tuesday, July 8th. Finally, Barrington Research restated an "outperform" rating and set a $125.00 price target on shares of HealthEquity in a report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $119.77.

About HealthEquity

HealthEquity, Inc provides technology-enabled services platforms to consumers and employers in the United States. The company offers cloud-based platforms for individuals to make health saving and spending decisions, pay healthcare bills, receive personalized benefit information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.