The Manufacturers Life Insurance Company Reduces Stake in HealthEquity, Inc. (NASDAQ:HQY)

The Manufacturers Life Insurance Company reduced its position in HealthEquity, Inc. (NASDAQ:HQY) by 3.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,671 shares of the company’s stock after selling 3,823 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.12% of HealthEquity worth $8,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of HQY. Price T Rowe Associates Inc. MD boosted its stake in shares of HealthEquity by 7.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 51,384 shares of the company’s stock worth $4,195,000 after buying an additional 3,365 shares during the last quarter. GAMMA Investing LLC lifted its position in HealthEquity by 114.8% during the second quarter. GAMMA Investing LLC now owns 595 shares of the company’s stock valued at $51,000 after purchasing an additional 318 shares in the last quarter. CWM LLC lifted its position in HealthEquity by 6.9% during the second quarter. CWM LLC now owns 3,958 shares of the company’s stock valued at $341,000 after purchasing an additional 255 shares in the last quarter. SG Americas Securities LLC lifted its position in HealthEquity by 48.5% during the second quarter. SG Americas Securities LLC now owns 3,798 shares of the company’s stock valued at $327,000 after purchasing an additional 1,241 shares in the last quarter. Finally, Sequoia Financial Advisors LLC purchased a new position in HealthEquity during the second quarter valued at $1,122,000. 99.55% of the stock is currently owned by hedge funds and other institutional investors.

HealthEquity Trading Down 0.3 %

Shares of HQY stock opened at $101.39 on Wednesday. HealthEquity, Inc. has a 12-month low of $62.10 and a 12-month high of $105.82. The company has a current ratio of 4.10, a quick ratio of 4.10 and a debt-to-equity ratio of 0.51. The stock’s 50-day moving average price is $90.61 and its 200-day moving average price is $83.02. The stock has a market capitalization of $8.85 billion, a price-to-earnings ratio of 84.49, a price-to-earnings-growth ratio of 1.59 and a beta of 0.55.

HealthEquity (NASDAQ:HQY) last issued its earnings results on Tuesday, September 3rd. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.16. HealthEquity had a return on equity of 9.01% and a net margin of 9.61%. The firm had revenue of $299.93 million for the quarter, compared to analysts’ expectations of $284.48 million. Equities research analysts predict that HealthEquity, Inc. will post 2.27 EPS for the current fiscal year.

Insider Transactions at HealthEquity

In other HealthEquity news, Director Frank Corvino sold 1,247 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $80.26, for a total transaction of $100,084.22. Following the sale, the director now directly owns 4,823 shares of the company’s stock, valued at $387,093.98. The trade was a 20.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert W. Selander sold 8,250 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $82.98, for a total value of $684,585.00. Following the sale, the director now directly owns 54,719 shares in the company, valued at $4,540,582.62. The trade was a 13.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,536 shares of company stock valued at $884,517. 2.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

HQY has been the topic of several analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $92.00 target price on shares of HealthEquity in a research report on Wednesday, September 4th. JMP Securities reiterated a “market outperform” rating and set a $105.00 target price on shares of HealthEquity in a research report on Wednesday, September 4th. The Goldman Sachs Group initiated coverage on HealthEquity in a research report on Friday, November 15th. They issued a “neutral” rating and a $108.00 price objective on the stock. Barrington Research boosted their price objective on HealthEquity from $105.00 to $120.00 and gave the company an “outperform” rating in a research report on Monday. Finally, BTIG Research boosted their price objective on HealthEquity from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, HealthEquity presently has an average rating of “Moderate Buy” and a consensus target price of $108.38.

HealthEquity Profile

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, receive personalized benefit information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.