TIAA CREF Investment Management LLC boosted its stake in shares of HealthEquity, Inc. (NASDAQ:HQY) by 14.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 142,960 shares of the company’s stock after buying an additional 17,639 shares during the period. TIAA CREF Investment Management LLC owned 0.24% of HealthEquity worth $6,069,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in HQY. Teachers Advisors LLC boosted its position in shares of HealthEquity by 6.0% in the first quarter. Teachers Advisors LLC now owns 79,893 shares of the company’s stock valued at $3,391,000 after buying an additional 4,542 shares in the last quarter. FMR LLC boosted its position in shares of HealthEquity by 23.0% in the first quarter. FMR LLC now owns 1,535,422 shares of the company’s stock valued at $65,179,000 after buying an additional 286,981 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of HealthEquity by 16.1% in the first quarter. Wellington Management Group LLP now owns 115,982 shares of the company’s stock valued at $4,924,000 after buying an additional 16,123 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of HealthEquity by 5.7% in the first quarter. Principal Financial Group Inc. now owns 343,733 shares of the company’s stock valued at $14,592,000 after buying an additional 18,676 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of HealthEquity by 3.6% in the first quarter. Arizona State Retirement System now owns 22,897 shares of the company’s stock valued at $972,000 after buying an additional 800 shares in the last quarter. 90.35% of the stock is owned by institutional investors and hedge funds.
HealthEquity, Inc. (NASDAQ:HQY) opened at 50.96 on Monday. HealthEquity, Inc. has a 52-week low of $27.45 and a 52-week high of $54.95. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 95.79 and a beta of 1.78. The company has a 50 day moving average price of $48.61 and a 200-day moving average price of $45.03.
HealthEquity (NASDAQ:HQY) last announced its quarterly earnings data on Tuesday, June 6th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. HealthEquity had a return on equity of 11.61% and a net margin of 17.04%. The business had revenue of $55.40 million during the quarter, compared to analysts’ expectations of $54.77 million. During the same period in the previous year, the firm earned $0.15 earnings per share. The firm’s quarterly revenue was up 25.9% compared to the same quarter last year. Equities research analysts anticipate that HealthEquity, Inc. will post $0.58 EPS for the current year.
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Several research analysts recently weighed in on the company. Zacks Investment Research raised HealthEquity from a “hold” rating to a “buy” rating and set a $54.00 target price for the company in a research note on Wednesday, July 12th. Cantor Fitzgerald raised their target price on HealthEquity from $55.00 to $56.00 and gave the company an “overweight” rating in a research note on Wednesday, July 5th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $61.00 target price (up previously from $57.00) on shares of HealthEquity in a research note on Monday, June 12th. Chardan Capital raised their target price on HealthEquity from $53.00 to $57.00 and gave the company a “buy” rating in a research note on Wednesday, June 7th. Finally, J P Morgan Chase & Co raised their target price on HealthEquity from $44.00 to $51.00 and gave the company an “overweight” rating in a research note on Wednesday, March 22nd. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $50.22.
In other HealthEquity news, major shareholder Berkley Capital, Llc sold 4,002 shares of the business’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $51.99, for a total value of $208,063.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Frank Medici sold 131,800 shares of the business’s stock in a transaction dated Thursday, July 13th. The shares were sold at an average price of $51.42, for a total value of $6,777,156.00. Following the completion of the transaction, the director now directly owns 6,381 shares of the company’s stock, valued at $328,111.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,472,321 shares of company stock valued at $126,690,513. 19.00% of the stock is owned by insiders.
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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