OP Asset Management Ltd Purchases New Holdings in HealthEquity, Inc. $HQY

Key Points

• OP Asset Management Ltd opened a new position in HealthEquity during the first quarter, buying 19,105 shares worth about $1.6 million.
• HealthEquity reported stronger-than-expected quarterly results, with EPS of $1.24 beating estimates and revenue of $354.64 million, up 7.2% year over year.
• Analyst sentiment remains constructive, with a Moderate Buy consensus and an average price target of $110.57, even as some insiders recently sold shares under pre-arranged trading plans.

OP Asset Management Ltd acquired a new position in HealthEquity, Inc. (NASDAQ:HQY - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 19,105 shares of the company's stock, valued at approximately $1,597,000.

Several other institutional investors have also added to or reduced their stakes in the company. Capricorn Fund Managers Ltd purchased a new position in HealthEquity during the 4th quarter valued at $6,926,000. Congress Asset Management Co. increased its stake in HealthEquity by 36.3% in the fourth quarter. Congress Asset Management Co. now owns 101,816 shares of the company's stock worth $9,327,000 after purchasing an additional 27,102 shares during the period. Norges Bank purchased a new stake in HealthEquity in the fourth quarter worth $66,927,000. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of HealthEquity during the fourth quarter worth $4,381,000. Finally, Westfield Capital Management Co. LP lifted its position in shares of HealthEquity by 13.7% during the fourth quarter. Westfield Capital Management Co. LP now owns 1,952,452 shares of the company's stock worth $178,864,000 after purchasing an additional 235,794 shares during the last quarter. Institutional investors own 99.55% of the company's stock.

HealthEquity Price Performance

HQY opened at $88.46 on Monday. HealthEquity, Inc. has a 12-month low of $72.76 and a 12-month high of $106.60. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.46. The business's fifty day simple moving average is $85.30 and its 200-day simple moving average is $84.72. The company has a market capitalization of $7.40 billion, a price-to-earnings ratio of 33.13, a PEG ratio of 1.49 and a beta of 0.21.

HealthEquity (NASDAQ:HQY - Get Free Report) last released its quarterly earnings data on Thursday, May 28th. The company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.13. HealthEquity had a return on equity of 14.75% and a net margin of 17.25%.The firm had revenue of $354.64 million during the quarter, compared to the consensus estimate of $352.02 million. HealthEquity's revenue was up 7.2% compared to the same quarter last year. HealthEquity has set its FY 2027 guidance at 2.880-2.950 EPS. On average, equities research analysts anticipate that HealthEquity, Inc. will post 3.92 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Wall Street Zen upgraded shares of HealthEquity from a "hold" rating to a "buy" rating in a report on Saturday, June 6th. Wells Fargo & Company set a $111.00 price objective on shares of HealthEquity in a report on Monday, June 1st. JPMorgan Chase & Co. lowered their price objective on shares of HealthEquity from $129.00 to $123.00 and set an "overweight" rating for the company in a research report on Wednesday, March 18th. Weiss Ratings upgraded shares of HealthEquity from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, June 5th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of HealthEquity in a research report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, HealthEquity presently has a consensus rating of "Moderate Buy" and an average target price of $110.57.

Insider Buying and Selling at HealthEquity

In other news, Director Gayle Furgurson Wellborn sold 2,439 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $90.00, for a total transaction of $219,510.00. Following the transaction, the director directly owned 19,733 shares in the company, valued at approximately $1,775,970. This trade represents a 11.00% 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 link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Henry Fiore sold 3,142 shares of HealthEquity stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $95.00, for a total transaction of $298,490.00. Following the transaction, the executive vice president directly owned 59,113 shares in the company, valued at approximately $5,615,735. The trade was a 5.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 13,081 shares of company stock valued at $1,193,000. Company insiders own 1.60% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.