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Several hedge funds recently changed their stocks in HealthEquity (HQY). Vanguard Group increased its stake by 1.7%, now holding 8,768,632 shares worth $715.8 million. Wasatch Advisors raised its stake by 8.3% to 7,409,080 shares valued at $604.8 million. Motley Fool Asset Management saw a massive increase of 3,001%, acquiring 3,762,064 shares for around $307.1 million. Clearbridge Investments added 1.9% to its holdings, now owning 2,377,204 shares worth $204.9 million. Mackenzie Financial also increased its stake by 16.0%. Institutional investors own 99.55% of HQY stock.
HealthEquity Stock Down 1.5 %
HQY opened at $79.10. The company has a strong current and quick ratio of 4.10 and a debt-to-equity ratio of 0.51. Over the past year, the stock ranged from $61.81 to $88.26, with a market cap of $6.88 billion and a P/E ratio of 85.98.
HealthEquity reported earnings of $0.66 per share on September 3, exceeding estimates of $0.50. Revenue for the quarter reached $299.93 million, surpassing expectations. Analysts predict earnings of $2.25 per share for the current year.
Insider Transactions
Director Frank Corvino sold 7,705 shares at $81.89, totaling about $630,962. He owns 6,070 shares valued at $497,072 after the sale. Additionally, Vice Chairman Stephen Neeleman sold 35,000 shares for approximately $2.8 million. Insiders currently hold 2.20% of the stock.
Analysts’ Price Targets
Analysts raised their price targets for HQY: Deutsche Bank to $103, Wells Fargo to $110, and JMP Securities to $105. The stock has received multiple buy ratings and has a consensus target of $103.83.
HealthEquity Overview
HealthEquity, Inc. provides tech-enabled services for health savings and spending decisions in the U.S., including platforms to manage health accounts and wellness incentives.
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