Zacks: Brokerages Expect Healthequity Inc (HQY) Will Announce Quarterly Sales of $55.74 Million
Analysts expect Healthequity Inc (NASDAQ:HQY) to report sales of $55.74 million for the current quarter, Zacks Investment Research reports. Eight analysts have made 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 would suggest a positive year-over-year growth rate of 26.1%. The firm is expected to report its next quarterly 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 expect that the company will post sales of $274.86 million per share, with estimates ranging from $267.39 million to $281.10 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that cover Healthequity.
Healthequity (NASDAQ:HQY) last announced its quarterly earnings data on Tuesday, June 6th. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.03. The firm had revenue of $55.40 million during the quarter, compared to analyst estimates of $54.77 million. Healthequity had a net margin of 25.31% and a return on equity of 20.36%. The business’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.15 EPS.
A number of research firms recently weighed in on HQY. Cantor Fitzgerald raised their target price on shares of Healthequity from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Wednesday, June 7th. Chardan Capital raised their price target on Healthequity from $53.00 to $57.00 and gave the stock a “buy” rating in a research report on Wednesday, June 7th. Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $61.00 price target (up from $57.00) on shares of Healthequity in a research report on Monday, June 12th. J P Morgan Chase & Co raised their price target on Healthequity from $44.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 22nd. Finally, Zacks Investment Research upgraded Healthequity from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Wednesday, July 12th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $50.22.
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In other news, major shareholder Berkley Capital, Llc sold 4,002 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $51.99, for a total transaction of $208,063.98. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Stephen Neeleman sold 8,500 shares of the firm’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $50.83, for a total value of $432,055.00. Following the transaction, the insider now owns 1,000 shares in the company, valued at approximately $50,830. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,470,821 shares of company stock valued at $126,688,168. Corporate insiders own 29.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Peregrine Capital Management LLC raised its position in shares of Healthequity by 6.4% in the first quarter. Peregrine Capital Management LLC now owns 743,830 shares of the company’s stock valued at $29,776,000 after buying an additional 44,792 shares in the last quarter. New England Research & Management Inc. purchased a new position in shares of Healthequity during the first quarter valued at approximately $425,000. Highbridge Capital Management LLC purchased a new position in shares of Healthequity during the fourth quarter valued at approximately $1,003,000. Teachers Advisors LLC raised its position in shares of Healthequity by 9.8% in the fourth quarter. Teachers Advisors LLC now owns 75,351 shares of the company’s stock valued at $3,053,000 after buying an additional 6,706 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Healthequity during the fourth quarter valued at approximately $14,203,000. Hedge funds and other institutional investors own 90.35% of the company’s stock.
Shares of Healthequity (NASDAQ HQY) traded down 1.9874% during midday trading on Thursday, hitting $47.3401. 317,632 shares of the stock were exchanged. The firm has a market cap of $2.84 billion, a PE ratio of 88.9851 and a beta of 1.79. The firm’s 50-day moving average is $50.33 and its 200 day moving average is $45.90. Healthequity has a 52-week low of $27.45 and a 52-week high of $54.95.
Healthequity Company Profile
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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