Sumitomo Life Insurance Co. Purchases New Stake in HealthEquity, Inc. $HQY

Sumitomo Life Insurance Co. purchased a new stake in shares of HealthEquity, Inc. (NASDAQ:HQY) in the second quarter, Holdings Channel reports. The firm purchased 17,142 shares of the company’s stock, valued at approximately $1,548,000.

Several other institutional investors have also recently bought and sold shares of the business. Sivia Capital Partners LLC bought a new stake in shares of HealthEquity during the second quarter worth about $306,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of HealthEquity in the 2nd quarter worth about $4,747,000. Marshall Wace LLP bought a new position in HealthEquity in the 2nd quarter valued at about $5,483,000. Amundi lifted its position in HealthEquity by 9.3% in the 2nd quarter. Amundi now owns 30,203 shares of the company’s stock valued at $3,059,000 after acquiring an additional 2,574 shares in the last quarter. Finally, Jump Financial LLC acquired a new position in HealthEquity during the 2nd quarter valued at about $449,000. Institutional investors and hedge funds own 99.55% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on HQY. Weiss Ratings raised HealthEquity from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 5th. Wall Street Zen upgraded HealthEquity from a “hold” rating to a “buy” rating in a report on Saturday. Royal Bank Of Canada lifted their target price on HealthEquity from $100.00 to $108.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. Wells Fargo & Company set a $111.00 price target on HealthEquity in a report on Monday, June 1st. Finally, Citigroup reissued a “market outperform” rating on shares of HealthEquity in a research report on Monday, June 1st. Eleven research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, HealthEquity presently has an average rating of “Moderate Buy” and an average price target of $110.93.

Insider Activity

In related news, Director Gayle Furgurson Wellborn sold 2,439 shares of HealthEquity stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $90.00, for a total transaction of $219,510.00. Following the sale, the director directly owned 19,733 shares in the company, valued at approximately $1,775,970. This trade represents a 11.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Henry Fiore sold 3,142 shares of the business’s stock in a transaction on 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 transaction, the executive vice president directly owned 59,113 shares in the company, valued at approximately $5,615,735. This represents a 5.05% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 17,905 shares of company stock valued at $1,651,280 over the last three months. Corporate insiders own 1.60% of the company’s stock.

HealthEquity Stock Up 1.1%

HealthEquity stock opened at $105.41 on Friday. HealthEquity, Inc. has a fifty-two week low of $72.76 and a fifty-two 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’s 50-day simple moving average is $96.64 and its 200 day simple moving average is $87.20. The stock has a market cap of $8.81 billion, a PE ratio of 39.48, a price-to-earnings-growth ratio of 1.75 and a beta of 0.21.

HealthEquity (NASDAQ:HQY) last posted its quarterly earnings data on Thursday, May 28th. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.11 by $0.13. HealthEquity had a net margin of 17.25% and a return on equity of 14.75%. The firm had revenue of $354.64 million during the quarter, compared to analyst estimates of $352.02 million. The business’s revenue for the quarter was up 7.2% on a year-over-year basis. HealthEquity has set its FY 2027 guidance at 2.880-2.950 EPS. Research analysts predict that HealthEquity, Inc. will post 3.92 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.