Analysts expect HealthEquity, Inc. (NASDAQ:HQY) to announce $55.74 million in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for HealthEquity’s earnings, with the highest sales estimate coming in at $56.10 million and the lowest estimate coming in at $55.44 million. HealthEquity reported sales of $44.19 million in the same quarter last year, which indicates a positive year-over-year growth rate of 26.1%. The company is scheduled to report its next earnings report on Tuesday, September 5th.
According to Zacks, analysts expect that HealthEquity will report full year sales of $55.74 million for the current fiscal year, with estimates ranging from $224.05 million to $225.36 million. For the next financial year, analysts anticipate that the firm will report sales of $274.86 million per share, with estimates ranging from $267.39 million to $281.10 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for HealthEquity.
HealthEquity (NASDAQ:HQY) last posted its earnings results on Tuesday, June 6th. The company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. The business had revenue of $55.40 million for the quarter, compared to analysts’ expectations of $54.77 million. HealthEquity had a net margin of 17.04% and a return on equity of 11.61%. The firm’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 earnings per share.
A number of analysts have recently issued reports on the stock. BidaskClub cut shares of HealthEquity from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Zacks Investment Research cut shares of HealthEquity from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. TheStreet upgraded shares of HealthEquity from a “c” rating to a “b” rating in a research note on Monday, July 31st. Cantor Fitzgerald lifted their price objective on shares of HealthEquity from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 7th. Finally, Chardan Capital lifted their price objective on shares of HealthEquity from $53.00 to $57.00 and gave the stock a “buy” rating in a research note on Wednesday, June 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $50.22.
In other news, VP Ashley Dreier sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $47.81, for a total value of $478,100.00. Following the completion of the transaction, the vice president now directly owns 15,652 shares in the company, valued at approximately $748,322.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Neeleman sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $48.36, for a total transaction of $1,934,400.00. The disclosure for this sale can be found here. Insiders sold a total of 2,440,821 shares of company stock valued at $125,325,268 over the last 90 days. Corporate insiders own 19.00% of the company’s stock.
Several institutional investors have recently modified their holdings of HQY. Fifth Third Bancorp boosted its position in shares of HealthEquity by 382.8% in the first quarter. Fifth Third Bancorp now owns 2,414 shares of the company’s stock valued at $102,000 after buying an additional 1,914 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of HealthEquity during the first quarter valued at approximately $106,000. Arcadia Investment Management Corp MI boosted its position in shares of HealthEquity by 81.7% in the first quarter. Arcadia Investment Management Corp MI now owns 2,515 shares of the company’s stock valued at $107,000 after buying an additional 1,131 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of HealthEquity by 105.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,544 shares of the company’s stock valued at $127,000 after buying an additional 1,308 shares during the last quarter. Finally, Exane Derivatives purchased a new position in shares of HealthEquity during the second quarter valued at approximately $132,000. Institutional investors own 90.26% of the company’s stock.
Shares of HealthEquity (NASDAQ HQY) opened at 47.52 on Wednesday. The company has a 50-day moving average of $49.39 and a 200-day moving average of $46.16. The company has a market cap of $2.85 billion, a PE ratio of 89.32 and a beta of 1.73. HealthEquity has a 1-year low of $28.12 and a 1-year high of $54.95.
HealthEquity, Inc provides a range of solutions for managing healthcare accounts (Health Savings Accounts (HSAs), Health Reimbursement Arrangements (HRAs) and Flexible Spending Accounts (FSAs)) for health plans, insurance companies and third-party administrators. The Company is engaged in technology-enabled services platforms that allow consumers to make healthcare saving and spending decisions.
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