$55.50 Million in Sales Expected for HealthEquity, Inc. (HQY) This Quarter
Equities analysts expect that HealthEquity, Inc. (NASDAQ:HQY) will post sales of $55.50 million for the current fiscal quarter, according to Zacks. Eight analysts have made estimates for HealthEquity’s earnings. The lowest sales estimate is $54.79 million and the highest is $56.20 million. HealthEquity reported sales of $43.36 million in the same quarter last year, which indicates a positive year-over-year growth rate of 28%. The business is scheduled to issue its next earnings results on Tuesday, December 5th.
According to Zacks, analysts expect that HealthEquity will report full year sales of $55.50 million for the current financial year, with estimates ranging from $224.18 million to $227.95 million. For the next financial year, analysts anticipate that the business will post sales of $276.51 million per share, with estimates ranging from $267.39 million to $282.98 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover HealthEquity.
HealthEquity (NASDAQ:HQY) last announced its earnings results on Tuesday, September 5th. The company reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.13. HealthEquity had a return on equity of 13.93% and a net margin of 20.27%. The firm had revenue of $56.90 million during the quarter, compared to the consensus estimate of $55.66 million. During the same quarter in the prior year, the company earned $0.16 EPS. The firm’s revenue for the quarter was up 28.7% compared to the same quarter last year.
A number of brokerages have weighed in on HQY. BidaskClub raised HealthEquity from a “strong sell” rating to a “sell” rating in a research report on Friday. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $61.00 price target (up previously from $57.00) on shares of HealthEquity in a research report on Monday, June 12th. Cantor Fitzgerald boosted their price target on HealthEquity from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 7th. Zacks Investment Research raised HealthEquity from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Wednesday, July 12th. Finally, Chardan Capital boosted 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. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $56.50.
In related news, major shareholder Berkley Capital, Llc sold 4,002 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $51.99, for a total value of $208,063.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen Neeleman sold 8,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 1,000 shares of the company’s stock, valued at $50,830. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,976,064 shares of company stock valued at $100,665,521. Corporate insiders own 29.00% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of HealthEquity by 6.2% in the first quarter. Vanguard Group Inc. now owns 4,115,237 shares of the company’s stock valued at $174,691,000 after buying an additional 240,136 shares during the period. Paloma Partners Management Co bought a new stake in shares of HealthEquity in the first quarter valued at approximately $503,000. First Trust Advisors LP boosted its stake in shares of HealthEquity by 17.0% in the second quarter. First Trust Advisors LP now owns 94,283 shares of the company’s stock valued at $4,698,000 after buying an additional 13,676 shares during the period. Royce & Associates LP boosted its stake in shares of HealthEquity by 18.0% in the second quarter. Royce & Associates LP now owns 139,200 shares of the company’s stock valued at $6,936,000 after buying an additional 21,200 shares during the period. Finally, Turner Investments LLC bought a new stake in shares of HealthEquity in the second quarter valued at approximately $374,000. Institutional investors and hedge funds own 91.86% of the company’s stock.
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Shares of HealthEquity (HQY) opened at 45.81 on Friday. The company has a market cap of $2.75 billion, a P/E ratio of 86.11 and a beta of 1.75. The company’s 50-day moving average price is $44.70 and its 200 day moving average price is $45.92. HealthEquity has a 52 week low of $30.34 and a 52 week 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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