Mackenzie Financial Corp Has $147.28 Million Position in HealthEquity, Inc. (NASDAQ:HQY)

Key Points

• Mackenzie Financial Corp reduced its stake in HealthEquity, Inc. by 13.9% during the first quarter, now holding 1,666,578 shares valued at approximately $147.3 million.
• Several analysts have raised their target prices for HealthEquity, with Deutsche Bank increasing it from $98 to $115 and Raymond James setting a target at $120, reflecting a generally positive sentiment.
• HealthEquity recently reported an earnings per share (EPS) of $0.97, exceeding analyst expectations and driving interest in the company's performance.

Mackenzie Financial Corp trimmed its stake in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 13.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,666,578 shares of the company's stock after selling 268,576 shares during the period. Mackenzie Financial Corp owned approximately 1.93% of HealthEquity worth $147,275,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc acquired a new position in HealthEquity in the first quarter valued at approximately $28,000. Transce3nd LLC acquired a new position in HealthEquity in the fourth quarter valued at approximately $29,000. Larson Financial Group LLC lifted its holdings in HealthEquity by 1,366.0% in the first quarter. Larson Financial Group LLC now owns 689 shares of the company's stock valued at $61,000 after buying an additional 642 shares during the period. Whipplewood Advisors LLC lifted its holdings in HealthEquity by 5,060.0% in the first quarter. Whipplewood Advisors LLC now owns 774 shares of the company's stock valued at $68,000 after buying an additional 759 shares during the period. Finally, Huntington National Bank lifted its holdings in HealthEquity by 89.4% in the fourth quarter. Huntington National Bank now owns 767 shares of the company's stock valued at $74,000 after buying an additional 362 shares during the period. 99.55% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. KeyCorp lowered their target price on shares of HealthEquity from $110.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. JMP Securities upped their target price on shares of HealthEquity from $110.00 to $117.00 and gave the company a "market outperform" rating in a research note on Wednesday, June 4th. The Goldman Sachs Group upped their target price on shares of HealthEquity from $94.00 to $104.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. Wall Street Zen raised shares of HealthEquity from a "hold" rating to a "buy" rating in a research note on Friday, June 6th. Finally, Royal Bank Of Canada upped their target price on shares of HealthEquity from $112.00 to $117.00 and gave the company an "outperform" rating in a research note on Wednesday, June 4th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $118.55.

HealthEquity Stock Down 5.4%

HealthEquity stock traded down $5.20 during mid-day trading on Friday, reaching $91.80. The company's stock had a trading volume of 829,025 shares, compared to its average volume of 1,014,044. The company has a market capitalization of $7.94 billion, a price-to-earnings ratio of 67.01, a price-to-earnings-growth ratio of 1.53 and a beta of 0.49. HealthEquity, Inc. has a 12 month low of $65.01 and a 12 month high of $116.65. The business's 50 day simple moving average is $101.33 and its 200 day simple moving average is $98.33. 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 (NASDAQ:HQY - Get Free Report) last released its earnings results on Tuesday, June 3rd. The company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.16. The business had revenue of $330.80 million during the quarter, compared to the consensus estimate of $322.25 million. HealthEquity had a net margin of 9.80% and a return on equity of 11.01%. During the same quarter last year, the firm earned $0.80 earnings per share. As a group, research analysts anticipate that HealthEquity, Inc. will post 2.32 earnings per share for the current year.

Insider Activity at HealthEquity

In related news, Director Jon Kessler sold 134,183 shares of the firm's stock in a transaction on Friday, June 6th. The shares were sold at an average price of $112.08, for a total value of $15,039,230.64. Following the completion of the transaction, the director owned 253,510 shares of the company's stock, valued at approximately $28,413,400.80. This trade represents a 34.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Henry Fiore sold 1,794 shares of the firm's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $101.73, for a total transaction of $182,503.62. Following the completion of the transaction, the executive vice president directly owned 53,225 shares of the company's stock, valued at approximately $5,414,579.25. This trade represents a 3.26% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 291,744 shares of company stock valued at $32,705,007. Corporate insiders own 1.50% of the company's stock.

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.