Boone Capital Management LLC Makes New Investment in HealthEquity, Inc. $HQY

Boone Capital Management LLC purchased a new position in HealthEquity, Inc. (NASDAQ:HQY) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 212,856 shares of the company’s stock, valued at approximately $19,500,000. HealthEquity accounts for about 6.5% of Boone Capital Management LLC’s investment portfolio, making the stock its 8th largest position.

A number of other large investors have also bought and sold shares of HQY. Sivia Capital Partners LLC purchased a new position in HealthEquity in the 2nd quarter worth approximately $306,000. Arrowstreet Capital Limited Partnership purchased a new position in HealthEquity in the 2nd quarter worth approximately $4,747,000. Marshall Wace LLP purchased a new position in HealthEquity in the 2nd quarter worth approximately $5,483,000. Amundi increased its stake in HealthEquity by 9.3% in the 2nd quarter. Amundi now owns 30,203 shares of the company’s stock worth $3,059,000 after purchasing an additional 2,574 shares during the period. Finally, Jump Financial LLC purchased a new position in HealthEquity in the 2nd quarter worth approximately $449,000. 99.55% of the stock is owned by hedge funds and other institutional investors.

HealthEquity Price Performance

HQY opened at $86.33 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 3.44 and a current ratio of 3.44. HealthEquity, Inc. has a 52-week low of $72.76 and a 52-week high of $106.60. The stock has a market capitalization of $7.22 billion, a PE ratio of 32.33, a price-to-earnings-growth ratio of 1.44 and a beta of 0.21. The stock’s 50 day moving average price is $84.76 and its 200-day moving average price is $85.35.

HealthEquity (NASDAQ:HQY) last released its quarterly earnings results on Thursday, May 28th. The company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.13. HealthEquity had a return on equity of 14.75% and a net margin of 17.25%.The company had revenue of $354.64 million for the quarter, compared to analyst estimates of $352.02 million. The firm’s quarterly 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. On average, equities research analysts predict that HealthEquity, Inc. will post 3.92 EPS for the current year.

Insider Activity at HealthEquity

In related news, EVP Delano Ladd sold 7,500 shares of HealthEquity stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $90.00, for a total transaction of $675,000.00. Following the sale, the executive vice president directly owned 91,141 shares in the company, valued at $8,202,690. The trade was a 7.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 that occurred on Friday, May 29th. The shares were sold at an average price of $95.00, for a total value of $298,490.00. Following the sale, the executive vice president owned 59,113 shares in the company, valued at $5,615,735. This represents a 5.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 13,081 shares of company stock worth $1,193,000 over the last ninety days. 1.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on HQY. Wall Street Zen raised HealthEquity from a “hold” rating to a “buy” rating in a research note on Saturday, June 6th. Jefferies Financial Group set a $108.00 target price on HealthEquity in a research note on Thursday, February 19th. Royal Bank Of Canada boosted their target price on HealthEquity from $100.00 to $108.00 and gave the company an “outperform” rating in a research note on Wednesday, June 3rd. KeyCorp reissued an “overweight” rating on shares of HealthEquity in a research note on Tuesday, May 26th. Finally, Weiss Ratings raised HealthEquity from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $110.57.

About HealthEquity

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.