Picton Mahoney Asset Management trimmed its stake in shares of Healthequity Inc (NASDAQ:HQY) by 84.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,170 shares of the company’s stock after selling 149,700 shares during the quarter. Picton Mahoney Asset Management’s holdings in Healthequity were worth $1,777,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HQY. Meeder Asset Management Inc. acquired a new stake in Healthequity during the second quarter valued at approximately $25,000. FTB Advisors Inc. acquired a new position in shares of Healthequity in the 2nd quarter worth approximately $27,000. Manchester Capital Management LLC acquired a new position in shares of Healthequity in the 1st quarter worth approximately $36,000. Global Retirement Partners LLC boosted its holdings in shares of Healthequity by 72.7% in the 1st quarter. Global Retirement Partners LLC now owns 556 shares of the company’s stock worth $41,000 after acquiring an additional 234 shares in the last quarter. Finally, Quantamental Technologies LLC boosted its holdings in shares of Healthequity by 5,683.3% in the 1st quarter. Quantamental Technologies LLC now owns 694 shares of the company’s stock worth $51,000 after acquiring an additional 682 shares in the last quarter. 95.54% of the stock is currently owned by institutional investors.
HQY stock traded down $2.13 during trading on Friday, hitting $58.53. The company had a trading volume of 541,588 shares, compared to its average volume of 823,945. The company has a quick ratio of 15.59, a current ratio of 15.60 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $72.27 and a 200-day moving average price of $72.14. Healthequity Inc has a 12 month low of $50.29 and a 12 month high of $101.58. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 61.61, a PEG ratio of 2.98 and a beta of 1.47.
Healthequity (NASDAQ:HQY) last posted its quarterly earnings data on Tuesday, June 4th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.11. Healthequity had a net margin of 30.60% and a return on equity of 14.17%. The firm had revenue of $87.05 million during the quarter, compared to analysts’ expectations of $83.98 million. Equities analysts expect that Healthequity Inc will post 1.01 EPS for the current year.
In related news, VP Angelique Christine Hill sold 9,500 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $71.40, for a total value of $678,300.00. Following the completion of the transaction, the vice president now owns 15,887 shares in the company, valued at approximately $1,134,331.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jon Kessler acquired 10,000 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The stock was bought at an average price of $61.00 per share, with a total value of $610,000.00. Following the transaction, the chief executive officer now directly owns 442,410 shares in the company, valued at $26,987,010. The disclosure for this purchase can be found here. Insiders sold a total of 37,899 shares of company stock valued at $2,751,451 in the last 90 days. 3.70% of the stock is currently owned by corporate insiders.
HQY has been the topic of several recent analyst reports. Bank of America raised Healthequity from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $75.00 to $90.00 in a report on Friday, July 19th. ValuEngine downgraded Healthequity from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. JPMorgan Chase & Co. set a $80.00 target price on Healthequity and gave the stock an “overweight” rating in a report on Wednesday, June 5th. Citigroup reissued a “buy” rating on shares of Healthequity in a report on Friday, June 28th. Finally, Raymond James boosted their target price on Healthequity from $85.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $87.92.
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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