Madison Asset Management LLC acquired a new stake in HealthEquity, Inc. (NASDAQ:HQY – Free Report) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 60,491 shares of the company’s stock, valued at approximately $5,464,000.
Other large investors have also recently modified their holdings of the company. Oxbow Advisors LLC bought a new position in HealthEquity during the first quarter valued at $3,147,000. Westfield Capital Management Co. LP raised its stake in shares of HealthEquity by 13.7% in the fourth quarter. Westfield Capital Management Co. LP now owns 1,952,452 shares of the company’s stock valued at $178,864,000 after acquiring an additional 235,794 shares during the period. Maridea Wealth Management LLC bought a new stake in shares of HealthEquity in the 2nd quarter worth about $2,753,000. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of HealthEquity in the 4th quarter worth about $4,381,000. Finally, Norges Bank purchased a new position in shares of HealthEquity during the 4th quarter worth about $66,927,000. Institutional investors own 99.55% of the company’s stock.
HealthEquity Trading Up 1.1%
NASDAQ HQY opened at $103.95 on Thursday. HealthEquity, Inc. has a 12-month low of $72.76 and a 12-month high of $107.62. The company has a fifty day simple moving average of $96.00 and a two-hundred day simple moving average of $86.94. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.46. The stock has a market cap of $8.69 billion, a P/E ratio of 38.93, a P/E/G ratio of 1.73 and a beta of 0.21.
Insider Buying and Selling
In related news, EVP Delano Ladd sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $90.00, for a total value of $675,000.00. Following the sale, the executive vice president owned 91,141 shares in the company, valued at $8,202,690. This represents a 7.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Henry Fiore sold 2,354 shares of the stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $95.00, for a total transaction of $223,630.00. Following the completion of the transaction, the executive vice president owned 52,244 shares in the company, valued at approximately $4,963,180. This trade represents a 4.31% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 17,905 shares of company stock valued at $1,651,280 over the last quarter. 1.60% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
Several equities analysts recently commented on HQY shares. Citizens Jmp upped their price target on shares of HealthEquity from $110.00 to $111.00 and gave the company a “market outperform” rating in a report on Monday, June 1st. Citigroup reiterated a “market outperform” rating on shares of HealthEquity in a report on Monday, June 1st. Weiss Ratings upgraded shares of HealthEquity from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, June 5th. BTIG Research lifted their price target on HealthEquity from $110.00 to $115.00 and gave the company a “buy” rating in a report on Friday, July 24th. Finally, Wells Fargo & Company set a $111.00 price objective on HealthEquity in a research report on Monday, June 1st. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $110.93.
Get Our Latest Research Report on HQY
HealthEquity Company 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.
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