Healthequity Inc (HQY) Expected to Post Quarterly Sales of $55.63 Million
Wall Street brokerages predict that Healthequity Inc (NASDAQ:HQY) will report sales of $55.63 million for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Healthequity’s earnings, with the lowest sales estimate coming in at $54.79 million and the highest estimate coming in at $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 28.3%. The company is scheduled to report its next quarterly earnings results on Tuesday, December 5th.
On average, analysts expect that Healthequity will report full-year sales of $55.63 million for the current fiscal year, with estimates ranging from $225.39 million to $227.95 million. For the next financial year, analysts expect that the business will report sales of $279.06 million per share, with estimates ranging from $271.53 million to $292.50 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Healthequity.
Healthequity (NASDAQ:HQY) last posted its quarterly earnings results on Tuesday, September 5th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.13. The firm had revenue of $56.90 million for the quarter, compared to analysts’ expectations of $55.66 million. Healthequity had a net margin of 29.79% and a return on equity of 22.40%. The firm’s quarterly revenue was up 28.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.16 earnings per share.
Several equities research analysts have recently weighed in on HQY shares. BidaskClub raised Healthequity from a “sell” rating to a “hold” rating in a research report on Thursday, September 28th. Robert W. Baird reaffirmed a “hold” rating on shares of Healthequity in a research report on Thursday, September 21st. TheStreet raised shares of Healthequity from a “c” rating to a “b” rating in a research report on Monday, July 31st. Zacks Investment Research cut shares of Healthequity from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $56.00 price target on shares of Healthequity in a research report on Monday, September 25th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $56.50.
In other news, insider Stephen Neeleman sold 8,500 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $50.83, for a total transaction of $432,055.00. Following the transaction, the insider now owns 1,000 shares of the company’s stock, valued at $50,830. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Berkley Capital, Llc sold 210,398 shares of the firm’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $50.26, for a total value of $10,574,603.48. The disclosure for this sale can be found here. Insiders have sold a total of 1,550,851 shares of company stock valued at $78,530,968 in the last quarter. 19.00% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Fifth Third Bancorp lifted its position in Healthequity by 382.8% during the 1st quarter. Fifth Third Bancorp now owns 2,414 shares of the company’s stock valued at $102,000 after purchasing an additional 1,914 shares during the period. Oppenheimer Asset Management Inc. bought a new position in shares of Healthequity in the 1st quarter valued at about $106,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Healthequity by 105.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,544 shares of the company’s stock worth $127,000 after buying an additional 1,308 shares during the period. Riverhead Capital Management LLC raised its stake in shares of Healthequity by 75.3% during the second quarter. Riverhead Capital Management LLC now owns 2,629 shares of the company’s stock worth $131,000 after buying an additional 1,129 shares during the last quarter. Finally, Exane Derivatives bought a new stake in shares of Healthequity during the second quarter worth approximately $132,000. 90.97% of the stock is owned by hedge funds and other institutional investors.
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Healthequity (NASDAQ HQY) traded up 0.37% during midday trading on Wednesday, hitting $52.13. 537,467 shares of the stock traded hands. The company has a 50-day moving average of $45.35 and a 200-day moving average of $46.40. Healthequity has a 1-year low of $30.34 and a 1-year high of $54.95. The stock has a market cap of $3.15 billion, a PE ratio of 77.34 and a beta of 1.80.
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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