HealthEquity (NASDAQ:HQY) Issues Quarterly Earnings Results

HealthEquity (NASDAQ:HQY) issued its earnings results on Thursday. The company reported $1.24 EPS for the quarter, beating the consensus estimate of $1.11 by $0.13, FiscalAI reports. HealthEquity had a return on equity of 13.86% and a net margin of 16.39%.The business had revenue of $354.64 million for the quarter, compared to the consensus estimate of $352.02 million.

HealthEquity Stock Performance

Shares of HQY stock traded up $3.96 on Thursday, reaching $90.52. The stock had a trading volume of 1,227,423 shares, compared to its average volume of 993,874. The stock has a market cap of $7.59 billion, a P/E ratio of 36.80, a price-to-earnings-growth ratio of 1.59 and a beta of 0.19. HealthEquity has a 1 year low of $72.76 and a 1 year high of $116.65. The company has a debt-to-equity ratio of 0.45, a quick ratio of 3.27 and a current ratio of 3.27. The company has a 50 day simple moving average of $83.05 and a 200 day simple moving average of $86.78.

Hedge Funds Weigh In On HealthEquity

A number of institutional investors and hedge funds have recently modified their holdings of the company. Corient Private Wealth LLC purchased a new position in shares of HealthEquity in the 4th quarter worth $219,000. Pacer Advisors Inc. lifted its position in HealthEquity by 16.9% during the fourth quarter. Pacer Advisors Inc. now owns 13,427 shares of the company’s stock valued at $1,230,000 after purchasing an additional 1,937 shares in the last quarter. Virtu Financial LLC purchased a new position in HealthEquity during the fourth quarter valued at $325,000. EP Wealth Advisors LLC purchased a new position in HealthEquity during the fourth quarter valued at $472,000. Finally, XTX Topco Ltd purchased a new position in HealthEquity during the fourth quarter valued at $289,000. 99.55% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HQY has been the topic of several recent analyst reports. Barrington Research reiterated an “outperform” rating and set a $110.00 target price on shares of HealthEquity in a research note on Friday, May 22nd. BMO Capital Markets upgraded HealthEquity from a “market perform” rating to an “outperform” rating and increased their target price for the company from $85.00 to $105.00 in a research note on Thursday, April 9th. BTIG Research cut their target price on HealthEquity from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. KeyCorp reiterated an “overweight” rating on shares of HealthEquity in a research note on Tuesday. Finally, UBS Group set a $110.00 target price on HealthEquity in a research note on Tuesday, February 17th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $111.79.

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.