State of Wisconsin Investment Board Acquires New Stake in HealthEquity, Inc. (HQY)
State of Wisconsin Investment Board acquired a new stake in HealthEquity, Inc. (NASDAQ:HQY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 96,115 shares of the company’s stock, valued at approximately $4,789,000. State of Wisconsin Investment Board owned about 0.16% of HealthEquity at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of HQY. United Asset Strategies Inc. bought a new stake in HealthEquity during the second quarter worth approximately $440,000. Rhumbline Advisers boosted its stake in HealthEquity by 8.1% in the second quarter. Rhumbline Advisers now owns 90,783 shares of the company’s stock worth $4,524,000 after buying an additional 6,783 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in HealthEquity during the second quarter worth approximately $200,000. First Trust Advisors LP boosted its stake in HealthEquity by 17.0% in the second quarter. First Trust Advisors LP now owns 94,283 shares of the company’s stock worth $4,698,000 after buying an additional 13,676 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in HealthEquity by 0.9% in the second quarter. Arizona State Retirement System now owns 23,097 shares of the company’s stock worth $1,151,000 after buying an additional 200 shares during the last quarter. Institutional investors own 91.86% of the company’s stock.
HealthEquity, Inc. (NASDAQ HQY) opened at 42.77 on Friday. The firm has a 50 day moving average of $46.03 and a 200-day moving average of $45.83. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 80.39 and a beta of 1.73. HealthEquity, Inc. has a 1-year low of $30.34 and a 1-year high of $54.95.
HealthEquity (NASDAQ:HQY) last released its earnings results on Tuesday, June 6th. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.03. The firm had revenue of $55.40 million for the quarter, compared to the consensus estimate of $54.77 million. HealthEquity had a net margin of 17.04% and a return on equity of 11.61%. The company’s revenue was up 25.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 EPS. On average, equities research analysts anticipate that HealthEquity, Inc. will post $0.59 earnings per share for the current fiscal year.
A number of research firms have commented on HQY. Cantor Fitzgerald restated a “buy” rating and issued a $56.00 price target on shares of HealthEquity in a report on Tuesday. BidaskClub cut shares of HealthEquity from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Zacks Investment Research cut shares of HealthEquity from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Chardan Capital raised their price target on shares of HealthEquity from $53.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, June 7th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $61.00 price target (up from $57.00) on shares of HealthEquity in a report on Monday, June 12th. 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 stock. The company currently has a consensus rating of “Buy” and a consensus price target of $50.22.
In other news, Director Frank Medici sold 537,102 shares of the company’s stock in a transaction dated Friday, July 14th. The shares were sold at an average price of $51.24, for a total value of $27,521,106.48. Following the sale, the director now directly owns 6,381 shares of the company’s stock, valued at approximately $326,962.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jon Soldan sold 25,000 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $40.68, for a total transaction of $1,017,000.00. Following the completion of the sale, the vice president now directly owns 30,652 shares in the company, valued at $1,246,923.36. The disclosure for this sale can be found here. Insiders sold a total of 2,443,821 shares of company stock worth $125,203,393 over the last ninety days. Insiders own 29.00% of the company’s stock.
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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