HealthEquity (NASDAQ:HQY) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

HealthEquity (NASDAQ:HQY) issued its earnings results on Thursday. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.19 by $0.05, FiscalAI reports. HealthEquity had a net margin of 17.25% and a return on equity of 14.75%. The company had revenue of $350.73 million for the quarter, compared to the consensus estimate of $349.22 million.

HealthEquity Trading Down 0.9%

Shares of NASDAQ HQY opened at $104.42 on Thursday. HealthEquity has a fifty-two week low of $72.76 and a fifty-two week high of $107.62. The firm has a market capitalization of $8.73 billion, a P/E ratio of 39.11, a P/E/G ratio of 1.77 and a beta of 0.21. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.44 and a quick ratio of 3.44. The company’s 50 day simple moving average is $97.77 and its 200 day simple moving average is $87.71.

Analyst Ratings Changes

A number of research firms have commented on HQY. Weiss Ratings upgraded shares of HealthEquity from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, June 5th. Royal Bank Of Canada boosted their price objective on shares of HealthEquity from $100.00 to $108.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 3rd. Wall Street Zen upgraded HealthEquity from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Barrington Research reiterated an “outperform” rating and issued a $110.00 price target on shares of HealthEquity in a report on Friday, May 22nd. Finally, Citizens Jmp raised their price target on HealthEquity from $110.00 to $111.00 and gave the company a “market outperform” rating in a report on Monday, June 1st. Eleven investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, HealthEquity currently has a consensus rating of “Moderate Buy” and an average price target of $110.93.

Insider Buying and Selling

In other HealthEquity news, EVP Michael Henry Fiore sold 2,354 shares of HealthEquity stock in a transaction on Friday, July 10th. The shares were sold at an average price of $95.00, for a total transaction of $223,630.00. Following the completion of the sale, the executive vice president owned 52,244 shares of the company’s stock, valued at approximately $4,963,180. The trade was a 4.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 7,966 shares of company stock worth $756,770. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On HealthEquity

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its position in shares of HealthEquity by 148.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,107,448 shares of the company’s stock valued at $116,016,000 after buying an additional 661,795 shares in the last quarter. Millennium Management LLC grew its stake in HealthEquity by 151.5% in the fourth quarter. Millennium Management LLC now owns 951,563 shares of the company’s stock valued at $87,173,000 after acquiring an additional 573,283 shares during the period. Cadian Capital Management LP bought a new stake in shares of HealthEquity in the fourth quarter worth about $51,915,000. Wasatch Advisors LP increased its holdings in shares of HealthEquity by 4.5% in the fourth quarter. Wasatch Advisors LP now owns 6,589,646 shares of the company’s stock worth $603,677,000 after acquiring an additional 281,971 shares in the last quarter. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of HealthEquity during the fourth quarter worth about $25,800,000. Institutional investors own 99.55% of the company’s stock.

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.