Healthequity Inc to Post FY2020 Earnings of $0.96 Per Share, SunTrust Banks Forecasts (HQY)

Healthequity Inc (NASDAQ:HQY) – Equities research analysts at SunTrust Banks upped their FY2020 earnings per share (EPS) estimates for shares of Healthequity in a report issued on Wednesday. SunTrust Banks analyst S. Draper now forecasts that the company will earn $0.96 per share for the year, up from their prior forecast of $0.90.

Healthequity (NASDAQ:HQY) last issued its quarterly earnings data on Tuesday, December 5th. The company reported $0.17 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.04. The business had revenue of $56.80 million for the quarter, compared to the consensus estimate of $55.27 million. Healthequity had a return on equity of 14.47% and a net margin of 21.08%. The firm’s revenue was up 31.0% compared to the same quarter last year. During the same period last year, the business earned $0.10 EPS.

HQY has been the topic of several other reports. Zacks Investment Research raised Healthequity from a “hold” rating to a “buy” rating and set a $58.00 price target on the stock in a research report on Wednesday, October 11th. BidaskClub raised Healthequity from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $56.00 price target on shares of Healthequity in a research report on Tuesday, December 5th. Citigroup started coverage on Healthequity in a research report on Thursday, January 4th. They issued a “buy” rating on the stock. Finally, JPMorgan Chase & Co. dropped their price target on Healthequity from $52.00 to $51.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 24th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $57.17.

Shares of Healthequity (NASDAQ:HQY) traded up $1.06 during midday trading on Thursday, reaching $50.99. The company’s stock had a trading volume of 878,275 shares, compared to its average volume of 482,314. The company has a market cap of $3,121.61, a P/E ratio of 68.91, a P/E/G ratio of 1.99 and a beta of 1.70. Healthequity has a 52 week low of $37.62 and a 52 week high of $55.31.

A number of hedge funds have recently made changes to their positions in HQY. Teachers Advisors LLC boosted its stake in Healthequity by 12.6% in the 2nd quarter. Teachers Advisors LLC now owns 89,972 shares of the company’s stock valued at $4,483,000 after buying an additional 10,079 shares in the last quarter. New York State Common Retirement Fund boosted its stake in Healthequity by 5.0% in the 2nd quarter. New York State Common Retirement Fund now owns 159,277 shares of the company’s stock valued at $7,937,000 after buying an additional 7,622 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in Healthequity by 24.3% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 28,342 shares of the company’s stock valued at $1,412,000 after buying an additional 5,544 shares in the last quarter. Northern Trust Corp boosted its stake in Healthequity by 14.1% in the 2nd quarter. Northern Trust Corp now owns 662,459 shares of the company’s stock valued at $33,010,000 after buying an additional 81,665 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Healthequity by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 4,237,298 shares of the company’s stock valued at $211,145,000 after buying an additional 122,061 shares in the last quarter. 98.20% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Frank Medici sold 700 shares of the business’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $51.05, for a total value of $35,735.00. Following the sale, the director now owns 6,381 shares of the company’s stock, valued at approximately $325,750.05. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Darcy G. Mott sold 9,500 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $49.68, for a total value of $471,960.00. Following the completion of the sale, the vice president now directly owns 93,500 shares in the company, valued at approximately $4,645,080. The disclosure for this sale can be found here. Insiders have sold a total of 371,426 shares of company stock worth $18,749,703 in the last three months. 29.00% of the stock is owned by insiders.

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About Healthequity

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.

Earnings History and Estimates for Healthequity (NASDAQ:HQY)

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