Cantor Fitzgerald Weighs in on Healthequity Inc’s FY2019 Earnings (HQY)
Healthequity Inc (NASDAQ:HQY) – Equities research analysts at Cantor Fitzgerald upped their FY2019 earnings per share estimates for shares of Healthequity in a research report issued to clients and investors on Wednesday. Cantor Fitzgerald analyst S. Halper now anticipates that the company will post earnings of $1.00 per share for the year, up from their previous forecast of $0.90. Cantor Fitzgerald has a “Overweight” rating and a $60.00 price objective on the stock.
Healthequity (NASDAQ:HQY) last posted its quarterly earnings results 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 company 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 quarterly revenue was up 31.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.10 EPS.
Healthequity (NASDAQ HQY) opened at $51.29 on Friday. The firm has a market capitalization of $3,111.92, a price-to-earnings ratio of 73.27, a PEG ratio of 1.90 and a beta of 1.70. Healthequity has a 12 month low of $37.62 and a 12 month high of $55.31.
Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Healthequity by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 4,237,298 shares of the company’s stock worth $211,145,000 after purchasing an additional 122,061 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Healthequity by 25.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 473,433 shares of the company’s stock worth $23,591,000 after purchasing an additional 95,514 shares in the last quarter. Royal Bank of Canada increased its holdings in Healthequity by 42.9% during the 2nd quarter. Royal Bank of Canada now owns 263,778 shares of the company’s stock worth $13,145,000 after purchasing an additional 79,144 shares in the last quarter. New York State Teachers Retirement System increased its holdings in Healthequity by 8.0% during the 3rd quarter. New York State Teachers Retirement System now owns 33,651 shares of the company’s stock worth $1,702,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Sanders Morris Harris LLC bought a new position in Healthequity during the 3rd quarter worth about $2,301,000. Hedge funds and other institutional investors own 98.20% of the company’s stock.
In related news, Director Frank Medici sold 700 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $51.05, for a total transaction 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Delano Ladd sold 26,405 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $43.32, for a total value of $1,143,864.60. Following the sale, the executive vice president now directly owns 16,692 shares in the company, valued at approximately $723,097.44. 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 ninety days. 29.00% of the stock is currently owned by company insiders.
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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.
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