Premier Fund Managers Ltd Increases Holdings in HealthEquity, Inc. (NASDAQ:HQY)

Key Points

• Premier Fund Managers Ltd significantly increased its stake in HealthEquity, Inc. by 3,601.6%, now owning 409,992 shares valued at approximately $35.6 million.
• Several institutional investors have also boosted their holdings in HealthEquity, with Wealth Enhancement Advisory increasing ownership by 24.7% and Mirae Asset Global Investments by 7,983.6% in the same quarter.
• Wall Street analysts have raised their price targets for HealthEquity, with Barrington Research increasing their target from $112.00 to $125.00 and maintaining an "outperform" rating.

Premier Fund Managers Ltd grew its stake in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 3,601.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 409,992 shares of the company's stock after purchasing an additional 398,916 shares during the quarter. Premier Fund Managers Ltd owned about 0.47% of HealthEquity worth $35,610,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Transce3nd LLC acquired a new position in shares of HealthEquity during the 4th quarter worth approximately $29,000. Versant Capital Management Inc bought a new stake in HealthEquity in the 1st quarter valued at $28,000. Larson Financial Group LLC boosted its stake in HealthEquity by 1,366.0% in the 1st quarter. Larson Financial Group LLC now owns 689 shares of the company's stock valued at $61,000 after purchasing an additional 642 shares during the period. Huntington National Bank boosted its stake in HealthEquity by 89.4% in the 4th quarter. Huntington National Bank now owns 767 shares of the company's stock valued at $74,000 after purchasing an additional 362 shares during the period. Finally, Whipplewood Advisors LLC boosted its stake in HealthEquity by 5,060.0% in the 1st quarter. Whipplewood Advisors LLC now owns 774 shares of the company's stock valued at $68,000 after purchasing an additional 759 shares during the period. 99.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on HQY. Bank of America boosted their price target on HealthEquity from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Barrington Research boosted their price target on HealthEquity from $112.00 to $125.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. The Goldman Sachs Group boosted their price target on HealthEquity from $94.00 to $104.00 and gave the company a "neutral" rating in a research note on Wednesday, June 4th. KeyCorp reduced their price target on HealthEquity from $110.00 to $100.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, Raymond James Financial reiterated a "strong-buy" rating and set a $120.00 target price (up from $115.00) on shares of HealthEquity in a research report on Tuesday, July 8th. One equities research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, HealthEquity currently has a consensus rating of "Buy" and an average price target of $118.55.

HealthEquity Price Performance

Shares of HQY stock traded down $5.98 on Friday, hitting $91.02. 1,073,303 shares of the company's stock were exchanged, compared to its average volume of 1,015,727. The company has a debt-to-equity ratio of 0.50, a current ratio of 4.06 and a quick ratio of 4.06. HealthEquity, Inc. has a 12 month low of $65.01 and a 12 month high of $116.65. The stock has a market cap of $7.87 billion, a P/E ratio of 66.49, a price-to-earnings-growth ratio of 1.53 and a beta of 0.49. The company has a 50 day moving average of $101.33 and a 200 day moving average of $98.33.

HealthEquity (NASDAQ:HQY - Get Free Report) last announced its quarterly earnings data on Tuesday, June 3rd. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.16. HealthEquity had a return on equity of 11.01% and a net margin of 9.80%. The business had revenue of $330.80 million during the quarter, compared to the consensus estimate of $322.25 million. During the same period in the prior year, the company earned $0.80 EPS. On average, equities research analysts predict that HealthEquity, Inc. will post 2.32 EPS for the current year.

Insider Buying and Selling at HealthEquity

In related news, Director Jon Kessler sold 134,183 shares of HealthEquity stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $112.08, for a total transaction of $15,039,230.64. Following the transaction, the director owned 253,510 shares of the company's stock, valued at $28,413,400.80. The trade was a 34.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Elimelech Rosner sold 58,000 shares of HealthEquity stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $112.56, for a total value of $6,528,480.00. Following the transaction, the executive vice president directly owned 75,689 shares in the company, valued at approximately $8,519,553.84. The trade was a 43.38% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 291,744 shares of company stock worth $32,705,007. 1.50% of the stock is currently owned by insiders.

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.