Bank of America Corp DE Acquires 31,500 Shares of HealthEquity, Inc. (HQY)
Bank of America Corp DE raised its position in shares of HealthEquity, Inc. (NASDAQ:HQY) by 57.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,183 shares of the company’s stock after buying an additional 31,500 shares during the period. Bank of America Corp DE owned 0.14% of HealthEquity worth $3,659,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in HQY. Russell Investments Group Ltd. acquired a new position in HealthEquity during the fourth quarter worth about $848,000. Dimensional Fund Advisors LP increased its position in HealthEquity by 18.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 272,959 shares of the company’s stock worth $11,061,000 after buying an additional 43,403 shares in the last quarter. Guggenheim Capital LLC acquired a new position in HealthEquity during the fourth quarter worth about $285,000. AQR Capital Management LLC acquired a new position in HealthEquity during the fourth quarter worth about $293,000. Finally, Norges Bank acquired a new position in HealthEquity during the fourth quarter worth about $14,203,000. Hedge funds and other institutional investors own 90.23% of the company’s stock.
Shares of HealthEquity, Inc. (NASDAQ:HQY) traded up 0.56% during midday trading on Friday, reaching $46.77. 184,984 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $49.82 and its 200 day moving average price is $46.16. HealthEquity, Inc. has a 1-year low of $28.12 and a 1-year high of $54.95. The stock has a market capitalization of $2.80 billion, a P/E ratio of 87.91 and a beta of 1.73.
HealthEquity (NASDAQ:HQY) last posted its quarterly earnings results on Tuesday, June 6th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.16 by $0.03. HealthEquity had a net margin of 17.04% and a return on equity of 11.61%. The company had revenue of $55.40 million during the quarter, compared to analysts’ expectations of $54.77 million. During the same quarter in the previous year, the business posted $0.15 EPS. The firm’s revenue was up 25.9% on a year-over-year basis. On average, equities analysts predict that HealthEquity, Inc. will post $0.58 earnings per share for the current fiscal year.
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A number of equities analysts have recently issued reports on HQY shares. Chardan Capital increased their price objective on shares of HealthEquity from $53.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, June 7th. Cantor Fitzgerald increased their price objective on shares of HealthEquity from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Wednesday, June 7th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $61.00 price objective (up from $57.00) on shares of HealthEquity in a research note on Monday, June 12th. Zacks Investment Research upgraded shares of HealthEquity from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a research note on Wednesday, July 12th. Finally, BidaskClub downgraded shares of HealthEquity from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $50.22.
In other news, VP Ashley Dreier sold 10,000 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $47.81, for a total value of $478,100.00. Following the completion of the transaction, the vice president now owns 15,652 shares in the company, valued at approximately $748,322.12. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Stephen Neeleman sold 8,500 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $50.83, for a total transaction of $432,055.00. Following the completion of the transaction, the insider now owns 1,000 shares of the company’s stock, valued at approximately $50,830. The disclosure for this sale can be found here. Insiders have sold a total of 2,440,821 shares of company stock valued at $125,325,268 in the last quarter. 29.00% of the stock is currently owned by company insiders.
HealthEquity Company Profile
HealthEquity, Inc provides a range of solutions for managing healthcare accounts (Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs) and Flexible Spending Accounts (FSAs)) for health plans, insurance companies and third-party administrators. The Company is engaged in technology-enabled services platforms that allow consumers to make healthcare saving and spending decisions.
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