Royal Bank of Canada Lowers Holdings in HealthEquity, Inc. $HQY

Key Points

• Royal Bank of Canada reduced its stake in HealthEquity, Inc. by 6.2%, now holding 406,234 shares valued at approximately $35.9 million.
• HealthEquity's shares recently traded at $91.48, with a 52-week range between $74.07 and $116.65.
• Analysts have a consensus Buy rating for HealthEquity, with target prices ranging from $110.00 to $125.00.

Royal Bank of Canada reduced its stake in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) by 6.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 406,234 shares of the company's stock after selling 26,956 shares during the quarter. Royal Bank of Canada owned 0.47% of HealthEquity worth $35,900,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Ieq Capital LLC grew its stake in shares of HealthEquity by 4.4% during the 1st quarter. Ieq Capital LLC now owns 2,945 shares of the company's stock worth $260,000 after purchasing an additional 123 shares during the period. Xponance Inc. grew its position in HealthEquity by 1.1% during the first quarter. Xponance Inc. now owns 12,412 shares of the company's stock valued at $1,097,000 after buying an additional 136 shares during the period. Fifth Third Bancorp increased its holdings in HealthEquity by 17.5% in the first quarter. Fifth Third Bancorp now owns 955 shares of the company's stock valued at $84,000 after buying an additional 142 shares in the last quarter. State of Wyoming increased its holdings in HealthEquity by 2.9% in the first quarter. State of Wyoming now owns 5,915 shares of the company's stock valued at $523,000 after buying an additional 169 shares in the last quarter. Finally, Greenleaf Trust raised its position in shares of HealthEquity by 7.8% in the first quarter. Greenleaf Trust now owns 2,407 shares of the company's stock worth $213,000 after acquiring an additional 175 shares during the period. Hedge funds and other institutional investors own 99.55% of the company's stock.

HealthEquity Trading Down 6.4%

Shares of HQY opened at $91.48 on Friday. HealthEquity, Inc. has a 52-week low of $74.07 and a 52-week high of $116.65. The company has a quick ratio of 4.06, a current ratio of 4.23 and a debt-to-equity ratio of 0.47. The firm's fifty day moving average is $94.37 and its two-hundred day moving average is $94.98. The stock has a market cap of $7.88 billion, a PE ratio of 55.44, a price-to-earnings-growth ratio of 1.33 and a beta of 0.50.

Insider Buying and Selling at HealthEquity

In related news, EVP Michael Henry Fiore sold 1,794 shares of the business's stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $101.73, for a total transaction of $182,503.62. Following the transaction, the executive vice president directly owned 53,225 shares in the company, valued at approximately $5,414,579.25. The trade was a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on HQY shares. Barrington Research restated an "outperform" rating and set a $125.00 target price on shares of HealthEquity in a research report on Friday, August 29th. Wall Street Zen upgraded HealthEquity from a "hold" rating to a "buy" rating in a research report on Friday, June 6th. Royal Bank Of Canada upped their target price on HealthEquity from $109.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday. Bank of America lifted their price target on shares of HealthEquity from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Finally, Raymond James Financial reissued a "strong-buy" rating and issued a $120.00 price target (up previously from $115.00) on shares of HealthEquity in a report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, HealthEquity currently has an average rating of "Buy" and a consensus target price of $119.77.

HealthEquity Company 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.

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