Price T Rowe Associates Inc. MD Buys 580,988 Shares of HealthEquity, Inc. $HQY

Key Points

• Price T Rowe Associates Inc. MD increased its stake in HealthEquity, Inc. by 995.6% in the first quarter, owning 639,345 shares valued at approximately $56.5 million.
• HealthEquity recently reported earnings per share of $0.97, exceeding analysts' expectation of $0.81, alongside a revenue of $330.8 million for the quarter.
• Analysts have raised their target prices for HealthEquity, with Bank of America increasing its target from $110 to $125 and several others following suit, reflecting optimistic market sentiment.

Price T Rowe Associates Inc. MD grew its stake in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 995.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 639,345 shares of the company's stock after acquiring an additional 580,988 shares during the period. Price T Rowe Associates Inc. MD owned about 0.74% of HealthEquity worth $56,500,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Invesco Ltd. raised its stake in shares of HealthEquity by 50.6% in the first quarter. Invesco Ltd. now owns 2,446,198 shares of the company's stock valued at $216,171,000 after buying an additional 821,425 shares during the period. Brown Advisory Inc. increased its holdings in HealthEquity by 12.0% in the 4th quarter. Brown Advisory Inc. now owns 2,086,026 shares of the company's stock worth $200,154,000 after acquiring an additional 224,016 shares during the last quarter. Northern Trust Corp raised its stake in HealthEquity by 11.7% in the 4th quarter. Northern Trust Corp now owns 1,155,043 shares of the company's stock valued at $110,826,000 after acquiring an additional 121,001 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in HealthEquity by 1.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,100,970 shares of the company's stock valued at $97,293,000 after purchasing an additional 14,159 shares during the last quarter. Finally, Stephens Investment Management Group LLC boosted its position in HealthEquity by 1.8% during the first quarter. Stephens Investment Management Group LLC now owns 1,069,446 shares of the company's stock worth $94,507,000 after purchasing an additional 19,009 shares during the period. Institutional investors own 99.55% of the company's stock.

Insiders Place Their Bets

In related news, EVP Elimelech Rosner sold 58,000 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $112.56, for a total transaction of $6,528,480.00. Following the transaction, the executive vice president owned 75,689 shares of the company's stock, valued at approximately $8,519,553.84. This trade represents a 43.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jon Kessler sold 97,767 shares of HealthEquity stock in a transaction on Friday, June 6th. The stock was sold at an average price of $112.05, for a total transaction of $10,954,792.35. Following the completion of the transaction, the director owned 75,000 shares in the company, valued at approximately $8,403,750. The trade was a 56.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 291,744 shares of company stock valued at $32,705,007 over the last quarter. 1.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price target on shares of HealthEquity from $94.00 to $104.00 and gave the company a "neutral" rating in a research report on Wednesday, June 4th. Deutsche Bank Aktiengesellschaft upped their target price on shares of HealthEquity from $98.00 to $115.00 and gave the stock a "buy" rating in a report on Thursday, June 5th. Barrington Research reissued an "outperform" rating and issued a $125.00 price target on shares of HealthEquity in a report on Friday. JMP Securities upped their price target on shares of HealthEquity from $110.00 to $117.00 and gave the stock a "market outperform" rating in a report on Wednesday, June 4th. Finally, Bank of America upped their target price on HealthEquity from $110.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, June 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $117.82.

HealthEquity Price Performance

HQY traded up $1.04 during trading on Friday, reaching $89.33. The stock had a trading volume of 1,519,644 shares, compared to its average volume of 940,453. The stock has a market cap of $7.72 billion, a PE ratio of 65.20, a PEG ratio of 1.37 and a beta of 0.54. The company has a debt-to-equity ratio of 0.50, a quick ratio of 4.06 and a current ratio of 4.06. HealthEquity, Inc. has a one year low of $73.84 and a one year high of $116.65. The business has a 50-day moving average of $95.50 and a 200-day moving average of $95.83.

HealthEquity (NASDAQ:HQY - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.16. The firm had revenue of $330.80 million during the quarter, compared to analyst estimates of $322.25 million. HealthEquity had a return on equity of 11.01% and a net margin of 9.80%.During the same quarter in the previous year, the company posted $0.80 earnings per share. HealthEquity has set its FY 2026 guidance at 3.610-3.78 EPS. As a group, equities research analysts anticipate that HealthEquity, Inc. will post 2.32 EPS for the current fiscal year.

HealthEquity Profile

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.