State of Michigan Retirement System Grows Position in HealthEquity, Inc. (NASDAQ:HQY)

State of Michigan Retirement System raised its stake in HealthEquity, Inc. (NASDAQ:HQY) by 2.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,022 shares of the company’s stock after purchasing an additional 500 shares during the period. State of Michigan Retirement System’s holdings in HealthEquity were worth $1,716,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Xponance Inc. increased its stake in HealthEquity by 1.2% in the fourth quarter. Xponance Inc. now owns 12,269 shares of the company’s stock valued at $813,000 after purchasing an additional 147 shares during the last quarter. KLR Investment Advisors LLC increased its stake in HealthEquity by 4.2% in the fourth quarter. KLR Investment Advisors LLC now owns 5,914 shares of the company’s stock valued at $392,000 after purchasing an additional 241 shares during the last quarter. Capstone Investment Advisors LLC increased its stake in HealthEquity by 7.0% in the fourth quarter. Capstone Investment Advisors LLC now owns 3,710 shares of the company’s stock valued at $246,000 after purchasing an additional 243 shares during the last quarter. Campbell & CO Investment Adviser LLC increased its stake in HealthEquity by 3.2% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 8,195 shares of the company’s stock valued at $543,000 after purchasing an additional 254 shares during the last quarter. Finally, Rise Advisors LLC purchased a new position in HealthEquity in the first quarter valued at approximately $28,000. 99.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on HQY shares. Robert W. Baird increased their price target on shares of HealthEquity from $98.00 to $104.00 and gave the company an “outperform” rating in a research note on Tuesday, June 4th. JMP Securities raised their target price on shares of HealthEquity from $101.00 to $105.00 and gave the stock a “market outperform” rating in a research report on Tuesday, June 4th. KeyCorp raised their target price on shares of HealthEquity from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 5th. Raymond James raised their target price on shares of HealthEquity from $100.00 to $105.00 and gave the stock an “outperform” rating in a research report on Friday, June 7th. Finally, Wells Fargo & Company raised their target price on shares of HealthEquity from $107.00 to $110.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $101.67.

HealthEquity Stock Performance

NASDAQ:HQY opened at $83.56 on Friday. The firm’s fifty day moving average price is $81.43 and its 200 day moving average price is $78.56. HealthEquity, Inc. has a 1-year low of $61.32 and a 1-year high of $88.26. The company has a debt-to-equity ratio of 0.44, a current ratio of 4.39 and a quick ratio of 4.39. The firm has a market cap of $7.27 billion, a price-to-earnings ratio of 90.83, a price-to-earnings-growth ratio of 1.44 and a beta of 0.57.

HealthEquity (NASDAQ:HQY) last released its earnings results on Monday, June 3rd. The company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.08. HealthEquity had a return on equity of 7.77% and a net margin of 7.71%. The company had revenue of $287.60 million during the quarter, compared to the consensus estimate of $278.78 million. On average, sell-side analysts expect that HealthEquity, Inc. will post 2.12 EPS for the current year.

Insider Buying and Selling at HealthEquity

In other HealthEquity news, CEO Jon Kessler sold 32,326 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $82.83, for a total value of $2,677,562.58. Following the completion of the sale, the chief executive officer now owns 232,176 shares of the company’s stock, valued at $19,231,138.08. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Vice Chairman Stephen Neeleman sold 2,080 shares of HealthEquity stock in a transaction on Friday, June 7th. The stock was sold at an average price of $85.01, for a total transaction of $176,820.80. Following the completion of the transaction, the insider now owns 90,515 shares of the company’s stock, valued at approximately $7,694,680.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jon Kessler sold 32,326 shares of HealthEquity stock in a transaction on Monday, June 24th. The stock was sold at an average price of $82.83, for a total value of $2,677,562.58. Following the transaction, the chief executive officer now directly owns 232,176 shares of the company’s stock, valued at approximately $19,231,138.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,806 shares of company stock valued at $2,888,383. 2.20% of the stock is owned by company insiders.

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.