Beacon Investment Advisory Services Inc. Purchases 36,571 Shares of HealthEquity, Inc. $HQY

Beacon Investment Advisory Services Inc. grew its holdings in HealthEquity, Inc. (NASDAQ:HQY) by 63.4% during the 2nd quarter, HoldingsChannel reports. The firm owned 94,237 shares of the company’s stock after acquiring an additional 36,571 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in HealthEquity were worth $8,511,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in HQY. Assenagon Asset Management S.A. acquired a new position in shares of HealthEquity during the 2nd quarter worth about $1,916,000. GAMMA Investing LLC grew its holdings in HealthEquity by 17.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,321 shares of the company’s stock valued at $119,000 after buying an additional 193 shares during the last quarter. Grant Private Wealth Management Inc bought a new position in HealthEquity in the 2nd quarter worth approximately $206,000. Harbor Investment Advisory LLC bought a new position in HealthEquity in the 2nd quarter worth approximately $76,000. Finally, NewEdge Advisors LLC boosted its position in shares of HealthEquity by 6.5% in the first quarter. NewEdge Advisors LLC now owns 13,027 shares of the company’s stock valued at $1,089,000 after acquiring an additional 796 shares during the period. 99.55% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Gayle Furgurson Wellborn sold 2,439 shares of HealthEquity stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $90.00, for a total value of $219,510.00. Following the completion of the transaction, the director directly owned 19,733 shares of the company’s stock, valued at $1,775,970. The trade was a 11.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Michael Henry Fiore sold 3,142 shares of HealthEquity stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $95.00, for a total value of $298,490.00. Following the completion of the transaction, the executive vice president directly owned 59,113 shares of the company’s stock, valued at $5,615,735. This represents a 5.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 17,905 shares of company stock valued at $1,651,280. 1.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Citigroup reiterated a “market outperform” rating on shares of HealthEquity in a research note on Monday, June 1st. Royal Bank Of Canada upped their price objective on shares of HealthEquity from $100.00 to $108.00 and gave the company an “outperform” rating in a research report on Wednesday, June 3rd. Citizens Jmp increased their target price on shares of HealthEquity from $110.00 to $111.00 and gave the company a “market outperform” rating in a research note on Monday, June 1st. KeyCorp reissued an “overweight” rating on shares of HealthEquity in a research report on Tuesday, May 26th. Finally, Wall Street Zen lowered HealthEquity from a “buy” rating to a “hold” rating in a research note on Saturday. Eleven analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, HealthEquity currently has an average rating of “Moderate Buy” and a consensus price target of $110.93.

HealthEquity Stock Performance

NASDAQ:HQY opened at $104.63 on Friday. The stock has a market capitalization of $8.75 billion, a P/E ratio of 39.19, a price-to-earnings-growth ratio of 1.74 and a beta of 0.21. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.46. HealthEquity, Inc. has a 1 year low of $72.76 and a 1 year high of $106.42. The firm has a 50 day moving average of $93.37 and a 200-day moving average of $85.79.

HealthEquity (NASDAQ:HQY) last released its quarterly earnings results on Thursday, May 28th. The company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.13. HealthEquity had a return on equity of 14.75% and a net margin of 17.25%.The business had revenue of $354.64 million for the quarter, compared to analyst estimates of $352.02 million. HealthEquity’s revenue for the quarter was up 7.2% on a year-over-year basis. HealthEquity has set its FY 2027 guidance at 2.880-2.950 EPS. As a group, sell-side analysts anticipate that HealthEquity, Inc. will post 3.92 EPS for the current fiscal year.

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.