Voya Investment Management LLC Boosts Holdings for HealthEquity Inc: A Promising Sign for Healthcare Solutions Industry

On June 25, 2023, Voya Investment Management LLC announced an impressive boost in holdings for HealthEquity, Inc. (NASDAQ:HQY). The investment management firm substantiated a 278.3% increase in their shares of the company during the fourth quarter. As per the most recent filing with the Securities and Exchange Commission (SEC), Voya Investment Management LLC currently owns approximately 0.14% of HealthEquity, Inc., which amounts to $7,515,000.

HealthEquity is a premier provider of technology-enabled services platforms that cater to consumers and employers in the United States. It offers cloud-based platforms that allow individuals to make informed health saving and spending decisions based on personalized clinical information and benefits. Their platform enables users to compare treatment options and prices while receiving wellness incentives through their health savings accounts.

On Friday morning, HQY stock opened at $59.89 on NASDAQ. The company has a quick ratio and current ratio of 4.00 each with a debt-to-equity ratio of 0.45, reflecting sound financials enabling it to face market challenges confidently.

HealthEquity’s fifty-day simple moving average is $57.84 while its two-hundred-day simple moving average is $59.71 – both reflective of consistent growth momentum in revenue streams for the company over time.

Despite a turbulent market environment posed by external factors such as inflationary pressures impacting global markets heavily, HealthEquity continues to reaffirm its position as one of the leading providers of healthcare solutions for people in need.

This business has amassed enormous prominence imparting its unique operational model driven by cutting-edge innovation effectively accommodating diverse stakeholder groups operating within designated healthcare ecosystems nationwide.

As an investor in this booming industry leader across America’s healthcare landscape, Voya Investment Management LLC’s holding’s surge underlines investor confidence that strengthens HealthEquity’s market presence further. 

HealthEquity, Inc.

HQY

Buy

Updated on: 26/06/2023

Price Target

Current $59.68

Concensus $89.29


Low $75.00

Median $85.00

High $101.00

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Social Sentiments

We did not find social sentiment data for this stock

Analyst Ratings

Analyst / firm Rating
Scott Schoenhaus
Loop Capital Markets
Buy
Raymond James Buy
Guggenheim Buy
Wells Fargo Buy
RBC Capital Buy

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Investor Confidence in HealthEquity Grows as Company Continues to Improve Healthcare Spending and Saving Decisions via Technology-Enabled Services


HealthEquity, Inc. is a technology-enabled service platform located in the United States that offers cloud-based platforms to enable individuals and employers to make health savings and spending decisions. The company also allows customers to pay healthcare bills, compare treatment options and prices, receive personalized benefit and clinical information, earn wellness incentives, grow their savings and make investment choices while offering health savings accounts.

Institutional investors continue to show confidence in HealthEquity by either adding or reducing their stakes with the company. Quadrant Capital Group LLC boosted its position in shares of HealthEquity by 62.7% during the fourth quarter while Arcadia Investment Management Corp MI bought a new position in shares of HealthEquity during this period valued at approximately $65,000.

According to sources, Captrust Financial Advisors boosted its share position in shares of HealthEquity by 92.5% during the first quarter while Neo Ivy Capital Management boosted its position by 3,313.7% during the third quarter.

Also joining these names, Beacon Pointe Advisors LLC bought a new position in shares of HealthEquity during the first quarter valued at approximately $206,000. Currently, institutional investors own 98.80% of the stock available from HealthEquity.

HealthEquity announced Elimelech Rosner sold 10,156 shares of HealthEquity stock on June 12th for an average price per share of $64.29 – totaling over $652 thousand dollars worth of shares sold by Rosner.

On Tuesday March 21st Health Equity released its quarterly earnings report announcing an EPS (earnings per share) higher than estimates at $0.26 compared to the expected estimate being $0.20 EPS which resulted in revenue reaching nearly double what analysts projected for them -$233 million compared to $229 million-. Health Equity had positive return equity rates for Q1 reaching as high as a positive figure of 4.30%. For the entire fiscal year of 2023, analysts predict the company will report 1.3 earnings per share.

In previous analyst reports, Royal Bank of Canada rated their outlook for HealthEquity as an “outperform” and issued a $75.00 price target on shares of HealthEquity in March 2017. Deutsche Bank Aktiengesellschaft recently upgraded HealthEquity from $69 to $71 on June 7th of this year, while StockNews.com this May ranked their rating as “hold.” All combined together, three analysts rated HQY as a hold and six rated it as a buy – health equity currently holds an “average rating” according to Bloomberg with analysts expecting high ratings for stocks come July 2023.
 
Overall, multiple publicly traded investment firms have confidence in the future success of Bethesda-based HealthEquity.


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