Equities analysts expect that Healthequity Inc (NASDAQ:HQY) will announce $69.92 million in sales for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Healthequity’s earnings. The highest sales estimate is $70.93 million and the lowest is $69.10 million. Healthequity reported sales of $56.88 million in the same quarter last year, which indicates a positive year-over-year growth rate of 22.9%. The company is expected to announce its next quarterly earnings results after the market closes on Tuesday, September 4th.
On average, analysts expect that Healthequity will report full-year sales of $282.39 million for the current financial year, with estimates ranging from $280.97 million to $283.84 million. For the next year, analysts anticipate that the business will post sales of $344.25 million per share, with estimates ranging from $338.78 million to $350.10 million. Zacks’ sales averages are an average based on a survey of analysts that follow Healthequity.
Healthequity (NASDAQ:HQY) last issued its quarterly earnings results on Monday, June 4th. The company reported $0.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.09. Healthequity had a return on equity of 13.47% and a net margin of 22.91%. The business had revenue of $69.90 million for the quarter, compared to analyst estimates of $68.81 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. The company’s revenue was up 26.2% on a year-over-year basis.
A number of brokerages have recently weighed in on HQY. Zacks Investment Research upgraded Healthequity from a “sell” rating to a “hold” rating in a research note on Friday, July 20th. KeyCorp boosted their price target on Healthequity from $82.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, July 19th. Cantor Fitzgerald downgraded Healthequity from an “overweight” rating to a “neutral” rating and set a $65.00 target price for the company. in a report on Wednesday, May 30th. Barrington Research lifted their target price on Healthequity to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, June 5th. They noted that the move was a valuation call. Finally, Oppenheimer lifted their target price on Healthequity from $68.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, June 5th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $77.73.
In other Healthequity news, Director Frank Medici sold 6,904 shares of the business’s stock in a transaction that occurred on Friday, July 13th. The stock was sold at an average price of $80.40, for a total value of $555,081.60. Following the completion of the transaction, the director now directly owns 17,649 shares of the company’s stock, valued at $1,418,979.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Evelyn S. Dilsaver sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, July 5th. The shares were sold at an average price of $77.46, for a total value of $1,161,900.00. Following the completion of the transaction, the director now directly owns 28,193 shares of the company’s stock, valued at $2,183,829.78. The disclosure for this sale can be found here. Insiders have sold 57,100 shares of company stock valued at $4,457,965 in the last ninety days. Corporate insiders own 4.00% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in Healthequity by 11.3% in the second quarter. BlackRock Inc. now owns 7,688,768 shares of the company’s stock valued at $577,427,000 after acquiring an additional 777,915 shares during the period. FMR LLC lifted its holdings in Healthequity by 26.5% in the second quarter. FMR LLC now owns 3,410,542 shares of the company’s stock valued at $256,132,000 after acquiring an additional 715,441 shares during the period. JPMorgan Chase & Co. lifted its holdings in Healthequity by 6.8% in the first quarter. JPMorgan Chase & Co. now owns 1,229,111 shares of the company’s stock valued at $74,411,000 after acquiring an additional 78,021 shares during the period. Carillon Tower Advisers Inc. lifted its holdings in Healthequity by 751.9% in the second quarter. Carillon Tower Advisers Inc. now owns 752,482 shares of the company’s stock valued at $56,511,000 after acquiring an additional 664,157 shares during the period. Finally, Northern Trust Corp lifted its holdings in Healthequity by 1.5% in the first quarter. Northern Trust Corp now owns 664,085 shares of the company’s stock valued at $40,204,000 after acquiring an additional 9,575 shares during the period. 95.38% of the stock is owned by institutional investors.
Shares of HQY stock traded up $0.19 during trading hours on Wednesday, reaching $87.05. 271,206 shares of the company’s stock were exchanged, compared to its average volume of 550,536. Healthequity has a 1 year low of $40.21 and a 1 year high of $88.30. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 161.20, a PEG ratio of 3.43 and a beta of 1.37.
HealthEquity, Inc provides various solutions for managing health care accounts, health reimbursement arrangements, and flexible spending accounts for health plans, insurance companies, and third-party administrators in the United States. The company offers healthcare saving and spending platform, a cloud-based platform for individuals to make health saving and spending decisions, pay healthcare bills, compare treatment options and prices, receive personalized benefit and clinical information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.
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