M&T Bank Corp Sells 26,258 Shares of HealthEquity, Inc. $HQY

Key Points

• M&T Bank Corp cut its HealthEquity stake by 80.2% in Q4, selling 26,258 shares and leaving 6,488 shares valued at about $594,000 per its latest 13F filing.
• Large institutions— including Vanguard, Wasatch, AQR, Westfield and Dimensional—have been adding shares (Vanguard now owns ~8.75M shares worth ~$829M), and institutional investors hold roughly 99.55% of HQY.
• Analysts' consensus is a Moderate Buy with an average price target of $111.79, and HealthEquity recently beat quarterly EPS estimates ($0.95 vs. $0.90) with revenue rising 7.3% year-over-year.

M&T Bank Corp reduced its stake in HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 80.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,488 shares of the company's stock after selling 26,258 shares during the quarter. M&T Bank Corp's holdings in HealthEquity were worth $594,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in HealthEquity by 2.9% in 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 in the last quarter. Wasatch Advisors LP lifted its position in HealthEquity by 3.4% in the 3rd quarter. Wasatch Advisors LP now owns 6,307,675 shares of the company's stock valued at $597,778,000 after acquiring an additional 206,611 shares in the last quarter. AQR Capital Management LLC lifted its position in HealthEquity by 59.3% in the 3rd quarter. AQR Capital Management LLC now owns 1,764,268 shares of the company's stock valued at $167,200,000 after acquiring an additional 656,820 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in HealthEquity by 35.7% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,716,658 shares of the company's stock valued at $162,688,000 after acquiring an additional 451,450 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in HealthEquity by 2.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,559,008 shares of the company's stock valued at $147,751,000 after acquiring an additional 38,154 shares in the last quarter. 99.55% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. UBS Group set a $110.00 price objective on shares of HealthEquity in a research report on Tuesday, February 17th. KeyCorp boosted their price objective on shares of HealthEquity from $120.00 to $125.00 and gave the company an "overweight" rating in a research report on Thursday, January 8th. BMO Capital Markets raised shares of HealthEquity from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $85.00 to $105.00 in a research report on Thursday, April 9th. BTIG Research lowered their price target on shares of HealthEquity from $130.00 to $110.00 and set a "buy" rating on the stock in a research note on Tuesday, February 17th. Finally, JPMorgan Chase & Co. lowered their price target on shares of HealthEquity from $129.00 to $123.00 and set an "overweight" rating on the stock in a research note on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $111.79.

HealthEquity Stock Up 0.5%

Shares of HQY stock opened at $82.40 on Friday. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.45. HealthEquity, Inc. has a 1 year low of $72.76 and a 1 year high of $116.65. The firm's fifty day moving average price is $80.91 and its two-hundred day moving average price is $88.04. The firm has a market capitalization of $6.96 billion, a P/E ratio of 33.50, a PEG ratio of 1.49 and a beta of 0.19.

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

HealthEquity 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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