HealthEquity (NASDAQ:HQY) Releases Quarterly Earnings Results, Hits Expectations

HealthEquity (NASDAQ:HQY) announced its earnings results on Tuesday. The company reported $0.92 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.92, Zacks reports. HealthEquity had a return on equity of 11.01% and a net margin of 9.80%.

HealthEquity Stock Down 0.6%

HealthEquity stock traded down $0.51 during midday trading on Tuesday, hitting $88.82. The stock had a trading volume of 2,681,758 shares, compared to its average volume of 1,013,365. The stock has a market cap of $7.68 billion, a P/E ratio of 64.83, a P/E/G ratio of 1.38 and a beta of 0.50. HealthEquity has a 12 month low of $73.84 and a 12 month high of $116.65. The business has a fifty day moving average price of $95.26 and a 200 day moving average price of $95.41. The company has a current ratio of 4.06, a quick ratio of 4.06 and a debt-to-equity ratio of 0.50.

Analysts Set New Price Targets

HQY has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of HealthEquity from $98.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, June 5th. Royal Bank Of Canada cut their price objective on HealthEquity from $117.00 to $109.00 and set an “outperform” rating on the stock in a research report on Thursday, August 28th. JMP Securities raised their price objective on HealthEquity from $110.00 to $117.00 and gave the company a “market outperform” rating in a research report on Wednesday, June 4th. Bank of America increased their price target on shares of HealthEquity from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, June 4th. Finally, The Goldman Sachs Group lifted their target price on HealthEquity from $94.00 to $104.00 and gave the stock a “neutral” rating in a report on Wednesday, June 4th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $117.82.

Insiders Place Their Bets

In related news, Director Jon Kessler sold 134,183 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $112.08, for a total transaction of $15,039,230.64. Following the completion of the sale, the director owned 253,510 shares in the company, valued at $28,413,400.80. This trade represents a 34.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Elimelech Rosner sold 58,000 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $112.56, for a total value of $6,528,480.00. Following the completion of the transaction, the executive vice president directly owned 75,689 shares in the company, valued at $8,519,553.84. The trade was a 43.38% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 291,744 shares of company stock worth $32,705,007. 1.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC lifted its stake in HealthEquity by 148.5% in the second quarter. AQR Capital Management LLC now owns 1,107,448 shares of the company’s stock valued at $116,016,000 after buying an additional 661,795 shares during the period. Man Group plc raised its position in HealthEquity by 1,331.8% during the 2nd quarter. Man Group plc now owns 254,652 shares of the company’s stock valued at $26,677,000 after purchasing an additional 236,867 shares during the last quarter. Viking Global Investors LP purchased a new position in shares of HealthEquity during the second quarter valued at approximately $23,021,000. Balyasny Asset Management L.P. grew its holdings in shares of HealthEquity by 991.5% in the second quarter. Balyasny Asset Management L.P. now owns 141,779 shares of the company’s stock worth $14,853,000 after acquiring an additional 128,790 shares during the period. Finally, Qube Research & Technologies Ltd purchased a new stake in HealthEquity in the 2nd quarter worth $7,878,000. Institutional investors and hedge funds own 99.55% of the company’s stock.

About HealthEquity

HealthEquity, Inc provides technology-enabled services platforms to consumers and employers in the United States. The company offers cloud-based platforms for individuals to make health saving and spending decisions, pay healthcare bills, receive personalized benefit information, earn wellness incentives, grow their savings, and make investment choices; and health savings accounts.