HealthEquity (NASDAQ:HQY) Releases Quarterly Earnings Results, Beats Expectations By $0.13 EPS

HealthEquity (NASDAQ:HQY) released its quarterly earnings data on Thursday. The company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.13, FiscalAI reports. The business had revenue of $354.64 million for the quarter, compared to analysts’ expectations of $352.02 million. HealthEquity had a return on equity of 13.86% and a net margin of 16.39%.

HealthEquity Price Performance

HealthEquity stock traded up $3.96 during mid-day trading on Thursday, hitting $90.52. 1,218,504 shares of the company were exchanged, compared to its average volume of 990,877. The company has a market capitalization of $7.59 billion, a PE ratio of 36.80, a price-to-earnings-growth ratio of 1.59 and a beta of 0.19. The business has a fifty day moving average of $83.05 and a 200 day moving average of $86.78. HealthEquity has a 1-year low of $72.76 and a 1-year high of $116.65. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.45.

Institutional Investors Weigh In On HealthEquity

A number of hedge funds have recently made changes to their positions in the company. Acumen Wealth Advisors LLC bought a new stake in HealthEquity during the fourth quarter worth about $27,000. Aster Capital Management DIFC Ltd bought a new stake in HealthEquity during the 4th quarter worth about $28,000. Caitong International Asset Management Co. Ltd increased its holdings in shares of HealthEquity by 1,723.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 310 shares of the company’s stock valued at $28,000 after purchasing an additional 293 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of HealthEquity by 190.4% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 604 shares of the company’s stock valued at $55,000 after acquiring an additional 396 shares during the period. Finally, Larson Financial Group LLC boosted its stake in shares of HealthEquity by 24.4% in the 3rd quarter. Larson Financial Group LLC now owns 628 shares of the company’s stock valued at $60,000 after purchasing an additional 123 shares during the last quarter. Institutional investors and hedge funds own 99.55% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on HQY shares. BTIG Research lowered their price target on shares of HealthEquity from $130.00 to $110.00 and set a “buy” rating on the stock in a report on Tuesday, February 17th. Royal Bank Of Canada reduced their price objective on shares of HealthEquity from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Wednesday, March 18th. Barrington Research reiterated an “outperform” rating and set a $110.00 target price on shares of HealthEquity in a research report on Friday, May 22nd. KeyCorp reissued an “overweight” rating on shares of HealthEquity in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of HealthEquity from $120.00 to $128.00 and gave the stock a “buy” rating in a research report on Thursday, March 19th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $111.79.

HealthEquity Company Profile

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.