Pinebridge Investments L.P. trimmed its position in shares of Healthequity Inc (NASDAQ:HQY) by 8.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,242 shares of the company’s stock after selling 721 shares during the quarter. Pinebridge Investments L.P.’s holdings in Healthequity were worth $619,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Carillon Tower Advisers Inc. increased its holdings in Healthequity by 751.9% in the second quarter. Carillon Tower Advisers Inc. now owns 752,482 shares of the company’s stock worth $56,511,000 after purchasing an additional 664,157 shares in the last quarter. Stevens Capital Management LP bought a new stake in Healthequity in the second quarter worth approximately $965,000. Swiss National Bank increased its holdings in Healthequity by 7.1% in the second quarter. Swiss National Bank now owns 95,100 shares of the company’s stock worth $7,142,000 after purchasing an additional 6,300 shares in the last quarter. Segall Bryant & Hamill LLC bought a new stake in Healthequity in the second quarter worth approximately $1,126,000. Finally, Schwab Charles Investment Management Inc. increased its holdings in Healthequity by 10.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 276,878 shares of the company’s stock worth $20,794,000 after purchasing an additional 26,635 shares in the last quarter. 96.99% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have commented on HQY shares. KeyCorp raised their price objective on Healthequity from $82.00 to $90.00 and gave the company a “buy” rating in a research note on Thursday, July 19th. Zacks Investment Research raised Healthequity from a “sell” rating to a “hold” rating in a research note on Friday, July 20th. Cantor Fitzgerald reissued a “hold” rating and issued a $68.00 price objective (up previously from $65.00) on shares of Healthequity in a research note on Monday, June 4th. Bank of America started coverage on Healthequity in a research note on Wednesday, May 23rd. They issued a “buy” rating and a $83.00 price objective for the company. Finally, Robert W. Baird raised their price objective on Healthequity from $61.00 to $77.00 and gave the company a “neutral” rating in a research note on Tuesday, June 5th. Three equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $82.91.
Shares of Healthequity stock opened at $94.47 on Wednesday. Healthequity Inc has a 52 week low of $41.28 and a 52 week high of $96.29. The company has a market capitalization of $5.85 billion, a price-to-earnings ratio of 174.94, a PEG ratio of 3.92 and a beta of 1.46.
Healthequity (NASDAQ:HQY) last announced its quarterly earnings data on Tuesday, September 4th. The company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.22 by $0.12. Healthequity had a return on equity of 13.47% and a net margin of 22.91%. The firm had revenue of $71.10 million during the quarter, compared to analysts’ expectations of $69.84 million. During the same quarter last year, the firm posted $0.27 earnings per share. The company’s revenue for the quarter was up 25.0% compared to the same quarter last year. equities research analysts expect that Healthequity Inc will post 0.72 EPS for the current fiscal year.
In related news, VP Darcy G. Mott sold 4,000 shares of Healthequity stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $86.37, for a total transaction of $345,480.00. Following the transaction, the vice president now owns 99,200 shares of the company’s stock, valued at $8,567,904. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Angelique Christine Hill sold 8,000 shares of Healthequity stock in a transaction that occurred on Friday, June 8th. The shares were sold at an average price of $77.45, for a total value of $619,600.00. Following the transaction, the vice president now directly owns 18,471 shares in the company, valued at approximately $1,430,578.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,600 shares of company stock worth $4,101,110. 4.00% of the stock is owned by insiders.
Healthequity Company Profile
HealthEquity, Inc provides various solutions for managing health care accounts, health reimbursement arrangements, and flexible spending accounts for health plans, insurance companies, and third-party administrators in the United States. The company offers healthcare saving and spending platform, a cloud-based platform for individuals to make health saving and spending decisions, pay healthcare bills, compare treatment options and prices, receive personalized benefit and clinical information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.
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