Wellington Management Group LLP Buys 34,972 Shares of HealthEquity, Inc. (NASDAQ:HQY)

Posted by Defense World Staff on Sep 8th, 2023

Wellington Management Group LLP lifted its holdings in HealthEquity, Inc. (NASDAQ:HQY – Free Report) by 5.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 665,734 shares of the company’s stock after buying an additional 34,972 shares during the quarter. Wellington Management Group LLP’s holdings in HealthEquity were worth $39,085,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of HQY. Clearbridge Investments LLC raised its holdings in shares of HealthEquity by 257.8% in the fourth quarter. Clearbridge Investments LLC now owns 1,138,185 shares of the company’s stock worth $70,158,000 after buying an additional 820,082 shares during the period. Norges Bank purchased a new stake in shares of HealthEquity in the fourth quarter worth approximately $34,071,000. BlackRock Inc. raised its holdings in shares of HealthEquity by 4.0% in the first quarter. BlackRock Inc. now owns 9,423,008 shares of the company’s stock worth $635,488,000 after buying an additional 358,743 shares during the period. Bank of America Corp DE raised its holdings in shares of HealthEquity by 81.3% in the fourth quarter. Bank of America Corp DE now owns 705,653 shares of the company’s stock worth $43,496,000 after buying an additional 316,345 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of HealthEquity in the first quarter worth approximately $18,460,000. 98.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on HQY shares. Barrington Research raised their price objective on HealthEquity from $80.00 to $85.00 and gave the stock an “outperform” rating in a report on Wednesday. StockNews.com started coverage on HealthEquity in a report on Thursday, August 17th. They set a “hold” rating on the stock. Royal Bank of Canada raised their price objective on HealthEquity from $75.00 to $77.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on HealthEquity from $71.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.90.

Get Our Latest Report on HQY

HealthEquity Trading Up 2.9 %

Shares of NASDAQ:HQY opened at $71.38 on Friday. HealthEquity, Inc. has a 12-month low of $48.86 and a 12-month high of $79.20. The business’s fifty day simple moving average is $66.13 and its 200-day simple moving average is $61.48. The company has a market capitalization of $6.10 billion, a PE ratio of 475.87, a P/E/G ratio of 2.54 and a beta of 0.79. The company has a current ratio of 4.00, a quick ratio of 4.00 and a debt-to-equity ratio of 0.45.

HealthEquity (NASDAQ:HQY – Get Free Report) last announced its quarterly earnings results on Monday, June 5th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.09. HealthEquity had a return on equity of 5.12% and a net margin of 1.37%. The business had revenue of $244.43 million for the quarter, compared to the consensus estimate of $239.85 million. As a group, equities research analysts predict that HealthEquity, Inc. will post 1.2 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Elimelech Rosner sold 10,156 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $64.29, for a total value of $652,929.24. Following the completion of the sale, the executive vice president now owns 70,334 shares of the company’s stock, valued at approximately $4,521,772.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other HealthEquity news, CEO Jon Kessler sold 19,588 shares of HealthEquity stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $60.12, for a total transaction of $1,177,630.56. Following the completion of the sale, the chief executive officer now owns 6,129 shares of the company’s stock, valued at approximately $368,475.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Elimelech Rosner sold 10,156 shares of the business’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $64.29, for a total value of $652,929.24. Following the completion of the transaction, the executive vice president now directly owns 70,334 shares of the company’s stock, valued at approximately $4,521,772.86. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

HealthEquity Profile

(Free Report)

HealthEquity, Inc provides technology-enabled services platforms to consumers and employers in the United States. The company offers cloud-based platforms 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.