Sumitomo Life Insurance Co. Buys Shares of 17,142 HealthEquity, Inc. $HQY

Sumitomo Life Insurance Co. bought a new position in HealthEquity, Inc. (NASDAQ:HQY) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 17,142 shares of the company’s stock, valued at approximately $1,548,000.

Other hedge funds also recently made changes to their positions in the company. Fifth Third Wealth Advisors LLC grew its holdings in shares of HealthEquity by 4.2% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,872 shares of the company’s stock valued at $240,000 after purchasing an additional 116 shares during the last quarter. Truist Financial Corp raised its position in HealthEquity by 4.9% in the fourth quarter. Truist Financial Corp now owns 2,537 shares of the company’s stock valued at $232,000 after purchasing an additional 119 shares during the last quarter. Fiduciary Trust Co boosted its stake in shares of HealthEquity by 3.4% during the third quarter. Fiduciary Trust Co now owns 3,669 shares of the company’s stock valued at $348,000 after purchasing an additional 120 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of HealthEquity by 24.4% during the third quarter. Larson Financial Group LLC now owns 628 shares of the company’s stock valued at $60,000 after purchasing an additional 123 shares in the last quarter. Finally, Merit Financial Group LLC grew its holdings in shares of HealthEquity by 8.9% during the third quarter. Merit Financial Group LLC now owns 2,112 shares of the company’s stock worth $200,000 after purchasing an additional 172 shares during the last quarter. 99.55% of the stock is currently owned by institutional investors and hedge funds.

HealthEquity Trading Up 1.1%

NASDAQ HQY opened at $105.41 on Friday. The stock has a market capitalization of $8.81 billion, a P/E ratio of 39.48, a P/E/G ratio of 1.75 and a beta of 0.21. The business has a 50 day simple moving average of $96.64 and a 200 day simple moving average of $87.20. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.44 and a quick ratio of 3.44. HealthEquity, Inc. has a one year low of $72.76 and a one year high of $107.62.

HealthEquity (NASDAQ:HQY) last posted its quarterly earnings results on Thursday, May 28th. The company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.13. The firm had revenue of $354.64 million for the quarter, compared to analysts’ expectations of $352.02 million. HealthEquity had a return on equity of 14.75% and a net margin of 17.25%.HealthEquity’s revenue was up 7.2% compared to the same quarter last year. HealthEquity has set its FY 2027 guidance at 2.880-2.950 EPS. Research analysts expect that HealthEquity, Inc. will post 3.92 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Gayle Furgurson Wellborn sold 2,439 shares of the company’s stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $90.00, for a total transaction of $219,510.00. Following the transaction, the director owned 19,733 shares in the company, valued at approximately $1,775,970. This represents a 11.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Delano Ladd sold 7,500 shares of the stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $90.00, for a total transaction of $675,000.00. Following the transaction, the executive vice president directly owned 91,141 shares in the company, valued at $8,202,690. This trade represents a 7.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 17,905 shares of company stock valued at $1,651,280 over the last ninety days. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

HQY has been the subject of a number of research reports. Wells Fargo & Company set a $111.00 price objective on shares of HealthEquity in a report on Monday, June 1st. BTIG Research boosted their target price on shares of HealthEquity from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Royal Bank Of Canada upped their price target 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. Citigroup reaffirmed a “market outperform” rating on shares of HealthEquity in a research note on Monday, June 1st. Finally, KeyCorp reiterated an “overweight” rating on shares of HealthEquity in a report on Tuesday, May 26th. Eleven investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $110.93.

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.