HealthEquity (NASDAQ:HQY) Announces Quarterly Earnings Results

HealthEquity (NASDAQ:HQY) posted its earnings results on Thursday. The company reported $1.24 EPS for the quarter, topping the consensus estimate of $1.19 by $0.05, FiscalAI reports. HealthEquity had a net margin of 17.25% and a return on equity of 14.75%. The firm had revenue of $350.73 million for the quarter, compared to the consensus estimate of $349.22 million.

HealthEquity Stock Down 0.9%

HQY opened at $104.42 on Thursday. The business has a 50 day moving average of $97.77 and a 200-day moving average of $87.71. The stock has a market capitalization of $8.73 billion, a price-to-earnings ratio of 39.11, a P/E/G ratio of 1.77 and a beta of 0.21. The company has a current ratio of 3.44, a quick ratio of 3.44 and a debt-to-equity ratio of 0.46. HealthEquity has a 1-year low of $72.76 and a 1-year high of $107.62.

Insider Transactions at HealthEquity

In related news, EVP Michael Henry Fiore sold 3,142 shares of the company’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $95.00, for a total transaction of $298,490.00. Following the completion of the transaction, the executive vice president directly owned 59,113 shares in the company, valued at $5,615,735. This represents a 5.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 7,966 shares of company stock worth $756,770 over the last 90 days. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On HealthEquity

Several large investors have recently added to or reduced their stakes in the company. Wasatch Advisors LP raised its stake in shares of HealthEquity by 4.5% in the fourth quarter. Wasatch Advisors LP now owns 6,589,646 shares of the company’s stock valued at $603,677,000 after purchasing an additional 281,971 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of HealthEquity by 59.3% during the 3rd quarter. AQR Capital Management LLC now owns 1,764,268 shares of the company’s stock worth $167,200,000 after acquiring an additional 656,820 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of HealthEquity by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,581,752 shares of the company’s stock valued at $144,911,000 after acquiring an additional 22,744 shares in the last quarter. Morgan Stanley boosted its position in shares of HealthEquity by 14.1% during the 4th quarter. Morgan Stanley now owns 1,486,057 shares of the company’s stock valued at $136,138,000 after acquiring an additional 183,645 shares in the last quarter. Finally, Geneva Capital Management LLC increased its stake in HealthEquity by 1.9% in the fourth quarter. Geneva Capital Management LLC now owns 1,118,576 shares of the company’s stock valued at $102,473,000 after acquiring an additional 20,969 shares during the period. Institutional investors and hedge funds own 99.55% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on HQY shares. Barrington Research reiterated an “outperform” rating and set a $110.00 price target on shares of HealthEquity in a research note on Friday, May 22nd. Citizens Jmp lifted their target price on shares of HealthEquity from $110.00 to $111.00 and gave the stock a “market outperform” rating in a report on Monday, June 1st. Citigroup reissued a “market outperform” rating on shares of HealthEquity in a research report on Monday, June 1st. Royal Bank Of Canada upped their price target on shares of HealthEquity from $100.00 to $108.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Finally, Wall Street Zen raised HealthEquity from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Eleven equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $110.93.

About HealthEquity

HealthEquity, Inc (NASDAQ: HQY) is a leading administrator of consumer-directed health accounts and related benefit solutions in the United States. Founded in 2002 and headquartered in Draper, Utah, the company specializes in health savings accounts (HSAs) and offers complementary services such as flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), COBRA administration and commuter benefits. Through its technology-driven platform, HealthEquity enables employers, health plans and individuals to streamline account management, improve cost transparency and encourage more informed healthcare spending.

Serving millions of members across all 50 states, HealthEquity leverages an open-architecture ecosystem that integrates with health plans, payroll providers and financial institutions.