TIG Advisors LLC Acquires Shares of 5,655 Healthequity Inc (NASDAQ:HQY)

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TIG Advisors LLC acquired a new stake in Healthequity Inc (NASDAQ:HQY) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 5,655 shares of the company’s stock, valued at approximately $370,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HQY. BlackRock Inc. grew its holdings in shares of Healthequity by 13.1% during the 2nd quarter. BlackRock Inc. now owns 7,268,685 shares of the company’s stock worth $475,373,000 after purchasing an additional 840,177 shares in the last quarter. Vanguard Group Inc. raised its position in Healthequity by 2.5% in the second quarter. Vanguard Group Inc. now owns 5,646,295 shares of the company’s stock valued at $369,268,000 after purchasing an additional 138,020 shares during the last quarter. Invesco Ltd. raised its position in Healthequity by 13.7% in the second quarter. Invesco Ltd. now owns 2,140,851 shares of the company’s stock valued at $140,012,000 after purchasing an additional 258,769 shares during the last quarter. Janus Henderson Group PLC raised its position in Healthequity by 13.9% in the second quarter. Janus Henderson Group PLC now owns 2,057,831 shares of the company’s stock valued at $134,582,000 after purchasing an additional 250,692 shares during the last quarter. Finally, Jackson Square Partners LLC bought a new position in Healthequity in the first quarter valued at about $128,524,000. 94.19% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have commented on HQY shares. Deutsche Bank started coverage on Healthequity in a research report on Thursday, September 12th. They issued a “buy” rating and a $74.00 target price for the company. Citigroup restated a “buy” rating on shares of Healthequity in a research report on Friday, June 28th. Bank of America set a $79.00 target price on Healthequity and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Raymond James raised Healthequity from an “outperform” rating to a “strong-buy” rating and decreased their target price for the stock from $90.00 to $80.00 in a research note on Monday, September 9th. Finally, ValuEngine cut Healthequity from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. Healthequity presently has a consensus rating of “Buy” and an average price target of $78.92.

Healthequity stock traded down $0.45 during mid-day trading on Friday, reaching $61.34. The stock had a trading volume of 20,951 shares, compared to its average volume of 1,074,861. The company has a debt-to-equity ratio of 0.04, a quick ratio of 22.98 and a current ratio of 22.98. Healthequity Inc has a fifty-two week low of $50.29 and a fifty-two week high of $101.58. The stock’s 50-day simple moving average is $64.31 and its 200-day simple moving average is $69.93. The firm has a market capitalization of $4.36 billion, a PE ratio of 64.51, a price-to-earnings-growth ratio of 3.58 and a beta of 1.55.

Healthequity (NASDAQ:HQY) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.10. The firm had revenue of $86.60 million during the quarter, compared to analysts’ expectations of $85.33 million. Healthequity had a return on equity of 11.77% and a net margin of 28.13%. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 earnings per share. On average, research analysts forecast that Healthequity Inc will post 0.86 earnings per share for the current fiscal year.

In other Healthequity news, VP Angelique Christine Hill sold 9,500 shares of the business’s stock in a transaction on Friday, July 12th. The stock was sold at an average price of $71.40, for a total value of $678,300.00. Following the sale, the vice president now directly owns 15,887 shares in the company, valued at $1,134,331.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Delano Ladd sold 6,875 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $80.00, for a total value of $550,000.00. Following the completion of the sale, the executive vice president now owns 17,833 shares in the company, valued at $1,426,640. The disclosure for this sale can be found here. Insiders have sold 33,899 shares of company stock worth $2,464,691 over the last quarter. 3.70% of the stock is currently owned by corporate insiders.

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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Institutional Ownership by Quarter for Healthequity (NASDAQ:HQY)

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