Sumitomo Mitsui DS Asset Management Company Ltd Purchases New Shares in HealthEquity, Inc. $HQY

Key Points

• Sumitomo Mitsui DS Asset Management opened a new position in HealthEquity, buying 47,817 shares valued at about $4.38 million in the fourth quarter.
• Other institutional investors also adjusted their holdings, and overall institutions own 99.55% of HealthEquity’s stock.
• Analysts remain mostly positive despite recent target cuts: HealthEquity has a Moderate Buy consensus with an average price target of $111.79, while the stock recently traded at $84.84.

Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of HealthEquity, Inc. (NASDAQ:HQY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 47,817 shares of the company's stock, valued at approximately $4,381,000. Sumitomo Mitsui DS Asset Management Company Ltd owned 0.06% of HealthEquity as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Xponance Inc. grew its position in HealthEquity by 0.8% during the third quarter. Xponance Inc. now owns 12,265 shares of the company's stock valued at $1,162,000 after buying an additional 102 shares during the period. Truist Financial Corp grew its position in HealthEquity by 4.9% during the fourth quarter. Truist Financial Corp now owns 2,537 shares of the company's stock valued at $232,000 after buying an additional 119 shares during the period. Fiduciary Trust Co grew its position in shares of HealthEquity by 3.4% in the third quarter. Fiduciary Trust Co now owns 3,669 shares of the company's stock valued at $348,000 after purchasing an additional 120 shares during the period. Larson Financial Group LLC grew its position in shares of HealthEquity by 24.4% in the third quarter. Larson Financial Group LLC now owns 628 shares of the company's stock valued at $60,000 after purchasing an additional 123 shares during the period. Finally, Farther Finance Advisors LLC grew its position in shares of HealthEquity by 59.3% in the third quarter. Farther Finance Advisors LLC now owns 392 shares of the company's stock valued at $37,000 after purchasing an additional 146 shares during the period. Institutional investors and hedge funds own 99.55% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on HQY shares. BTIG Research dropped their target price on shares of HealthEquity from $130.00 to $110.00 and set a "buy" rating on the stock in a research report on Tuesday, February 17th. Wall Street Zen lowered shares of HealthEquity from a "buy" rating to a "hold" rating in a research report on Saturday. Royal Bank Of Canada dropped their target price on shares of HealthEquity from $110.00 to $100.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 18th. Raymond James Financial set a $100.00 target price on shares of HealthEquity in a research report on Tuesday, February 17th. Finally, Barclays dropped their target price on shares of HealthEquity from $118.00 to $110.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $111.79.

HealthEquity Stock Performance

HQY opened at $84.84 on Friday. The firm has a market capitalization of $7.17 billion, a PE ratio of 34.49, a PEG ratio of 1.53 and a beta of 0.19. HealthEquity, Inc. has a twelve month low of $72.76 and a twelve month high of $116.65. The firm's 50-day moving average price is $81.30 and its 200 day moving average price is $87.78. 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 (NASDAQ:HQY - Get Free Report) last posted its quarterly earnings results on Tuesday, March 17th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.05. The firm had revenue of $334.59 million for the quarter, compared to analyst estimates of $332.48 million. HealthEquity had a net margin of 16.39% and a return on equity of 13.86%. HealthEquity's revenue was up 7.3% compared to the same quarter last year. As a group, sell-side analysts expect 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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