776,651 Shares in HealthEquity, Inc. $HQY Acquired by Park West Asset Management LLC

Park West Asset Management LLC bought a new position in HealthEquity, Inc. (NASDAQ:HQY) in the second quarter, Holdings Channel.com reports. The fund bought 776,651 shares of the company’s stock, valued at approximately $70,147,000. HealthEquity accounts for 4.8% of Park West Asset Management LLC’s investment portfolio, making the stock its 3rd biggest holding.

Other hedge funds also recently modified their holdings of the company. Sivia Capital Partners LLC bought a new position in HealthEquity during the second quarter valued at about $306,000. Arrowstreet Capital Limited Partnership acquired a new stake in HealthEquity in the 2nd quarter valued at about $4,747,000. Marshall Wace LLP acquired a new stake in HealthEquity in the 2nd quarter valued at about $5,483,000. Amundi boosted its position in shares of HealthEquity by 9.3% during the 2nd quarter. Amundi now owns 30,203 shares of the company’s stock valued at $3,059,000 after purchasing an additional 2,574 shares in the last quarter. Finally, Jump Financial LLC bought a new position in shares of HealthEquity during the 2nd quarter valued at about $449,000. 99.55% of the stock is currently owned by institutional investors and hedge funds.

HealthEquity Trading Down 0.9%

HealthEquity stock opened at $104.42 on Thursday. HealthEquity, Inc. has a 52 week low of $72.76 and a 52 week high of $107.62. The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.44 and a current ratio of 3.44. The firm has a market capitalization of $8.73 billion, a price-to-earnings ratio of 39.11, a P/E/G ratio of 1.77 and a beta of 0.21. The company has a 50 day moving average price of $97.77 and a 200 day moving average price of $87.71.

HealthEquity (NASDAQ:HQY) last released its earnings results on Thursday, May 28th. The company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.13. HealthEquity had a return on equity of 14.75% and a net margin of 17.25%.The company had revenue of $354.64 million during the quarter, compared to analyst estimates of $352.02 million. The company’s revenue was up 7.2% compared to the same quarter last year. Research analysts forecast that HealthEquity, Inc. will post 3.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on HQY shares. Barrington Research reissued an “outperform” rating and set a $110.00 target price on shares of HealthEquity in a research note on Friday, May 22nd. Citizens Jmp upped their price target on HealthEquity from $110.00 to $111.00 and gave the company a “market outperform” rating in a report on Monday, June 1st. Wall Street Zen upgraded HealthEquity from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Royal Bank Of Canada raised their price objective on HealthEquity from $100.00 to $108.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 3rd. Finally, Citigroup restated a “market outperform” rating on shares of HealthEquity in a report on Monday, June 1st. Eleven analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, HealthEquity presently has a consensus rating of “Moderate Buy” and an average target price of $110.93.

Insiders Place Their Bets

In related news, EVP Michael Henry Fiore sold 3,142 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $95.00, for a total value of $298,490.00. Following the completion of the sale, the executive vice president directly owned 59,113 shares of the company’s stock, valued at approximately $5,615,735. This represents a 5.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 7,966 shares of company stock worth $756,770 over the last quarter. 1.60% of the stock is currently owned by insiders.

HealthEquity Company 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.