Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its stake in HealthEquity, Inc. (NASDAQ:HQY – Get a rating) by 6.7% during the 1st quarter, according to its last filing with the SEC. The company held 4,401 shares of the company after purchasing an additional 277 shares during the period. The holdings of Mitsubishi UFJ Kokusai Asset Management Co. Ltd. in HealthEquity were worth $297,000 at the end of the most recent period.
Several other hedge funds have also recently bought and sold shares of HQY. IndexIQ Advisors LLC purchased a new equity stake in HealthEquity during the fourth quarter worth approximately $27,000. Pinebridge Investments LP purchased a new equity stake in HealthEquity during the fourth quarter valued at approximately $31,000. Signaturefd LLC increased its stake in shares of HealthEquity by 44.3% during the first quarter. Signaturefd LLC now owns 954 shares of the company valued at $64,000 after purchasing an additional 293 shares during the period. Clearstead Advisors LLC purchased a new equity stake in HealthEquity during the first quarter, valued at approximately $65,000. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of HealthEquity by 30.0% during the first quarter. Steward Partners Investment Advisory LLC now owns 1,371 shares of the company valued at $92,000 after purchasing an additional 316 shares during the period. Hedge funds and other institutional investors hold 97.44% of the company’s shares.
In other news, COO Edward Bloomberg sold 1,500 shares of the company in a trade on Thursday, June 9. The shares were sold at an average price of $63.31, for a total transaction of $94,965.00. Following the completion of the transaction, the COO now owns 60,850 shares of the company, valued at $3,852,413.50. The sale was disclosed in a filing with the SEC, accessible via this hyperlink. Company insiders own 2.80% of the company’s shares.
Performance of HealthEquity shares
Shares of HQY opened at $62.19 on Wednesday. HealthEquity, Inc. has a 1-year low of $36.81 and a 1-year high of $73.29. The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of -94.23, a growth price-to-earnings ratio of 4.57 and a beta of 0.97. The company has a fifty-day moving average of $61.78 and a 200-day moving average of $60.56.
EquityHealth (NASDAQ:HQY – Get a rating) last announced its quarterly results on Monday, June 6. The company reported earnings per share (EPS) of $0.15 for the quarter, beating the consensus estimate of $0.11 by $0.04. HealthEquity recorded a negative net margin of 7.11% and a positive return on equity of 3.03%. The company posted revenue of $205.68 million in the quarter, versus a consensus estimate of $202.72 million. In the same quarter a year earlier, the company posted earnings per share of $0.25. Analysts predict that HealthEquity, Inc. will post EPS of 0.66 for the current year.
Wall Street analysts predict growth
A number of analysts have weighed in on the stock recently. Barrington Research raised its price target on HealthEquity shares from $70.00 to $75.00 in a Tuesday, June 7 research report. Goldman Sachs Group assumed HealthEquity stock coverage in a Tuesday, July 12, research report. They set a “sell” rating and a price target of $59.00 for the company. Deutsche Bank Aktiengesellschaft raised its price target on HealthEquity shares from $66.00 to $67.00 in a Wednesday, June 8 research report. Finally, SVB Leerink raised its price target on HealthEquity shares from $67.00 to $76.00 and gave the stock an “outperform” rating in a Tuesday, June 7 research report. Two analysts rated the stock with a sell rating and ten gave the stock a buy rating. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.33.
HealthEquity, Inc provides technology service platforms to consumers and employers in the United States. The Company offers cloud-based platforms for individuals to make healthcare savings and spending decisions, pay healthcare bills, compare treatment options and prices, receive benefits personalized and clinical information, earn wellness incentives, increase savings, and make investment choices; and health savings accounts.
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