The Manufacturers Life Insurance Company Trims Stock Holdings in HealthEquity, Inc. (NASDAQ:HQY)

The Manufacturers Life Insurance Company trimmed its holdings in HealthEquity, Inc. (NASDAQ:HQY) by 3.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 100,671 shares of the company’s stock after selling 3,823 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in HealthEquity were worth $8,240,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of HealthEquity in the second quarter worth approximately $35,000. Paladin Wealth LLC purchased a new stake in shares of HealthEquity in the third quarter worth approximately $39,000. GAMMA Investing LLC raised its holdings in shares of HealthEquity by 114.8% in the second quarter. GAMMA Investing LLC now owns 595 shares of the company’s stock worth $51,000 after buying an additional 318 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in HealthEquity in the second quarter worth approximately $73,000. Finally, 1620 Investment Advisors Inc. bought a new position in HealthEquity in the third quarter worth approximately $112,000. 99.55% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at HealthEquity

In related news, Director Frank Corvino sold 1,039 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $96.10, for a total value of $99,847.90. Following the completion of the transaction, the director now directly owns 3,784 shares in the company, valued at approximately $363,642.40. This represents a 21.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Robert W. Selander sold 8,250 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $82.98, for a total value of $684,585.00. Following the completion of the sale, the director now directly owns 54,719 shares in the company, valued at approximately $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. Insiders sold a total of 10,536 shares of company stock valued at $884,517 over the last three months. 2.20% of the stock is currently owned by insiders.

HealthEquity Price Performance

Shares of NASDAQ HQY opened at $101.39 on Wednesday. The company has a market cap of $8.85 billion, a PE ratio of 84.49, a P/E/G ratio of 1.59 and a beta of 0.55. The stock has a fifty day moving average price of $90.61 and a 200 day moving average price of $83.02. The company has a debt-to-equity ratio of 0.51, a current ratio of 4.10 and a quick ratio of 4.10. HealthEquity, Inc. has a 1-year low of $62.10 and a 1-year high of $105.82.

HealthEquity (NASDAQ:HQY) last announced its quarterly earnings results on Tuesday, September 3rd. The company reported $0.66 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 business had revenue of $299.93 million for the quarter, compared to analyst estimates of $284.48 million. Sell-side analysts forecast that HealthEquity, Inc. will post 2.27 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft increased their price objective on HealthEquity from $102.00 to $103.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. The Goldman Sachs Group assumed coverage on HealthEquity in a research note on Friday, November 15th. They issued a “neutral” rating and a $108.00 price target for the company. BTIG Research boosted their price objective on shares of HealthEquity from $110.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $92.00 target price on shares of HealthEquity in a report on Wednesday, September 4th. Finally, Barrington Research lifted their target price on HealthEquity from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $108.38.

About HealthEquity

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.