Healthequity (NASDAQ:HQY) Sees Unusually-High Trading Volume Following Strong Earnings

Healthequity Inc (NASDAQ:HQY) saw unusually-strong trading volume on Wednesday after the company announced better than expected quarterly earnings. Approximately 3,270,041 shares changed hands during mid-day trading, an increase of 259% from the previous session’s volume of 911,553 shares.The stock last traded at $63.32 and had previously closed at $61.24.

The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.33. Healthequity had a return on equity of 11.77% and a net margin of 28.13%. The company had revenue of $157.12 million during the quarter, compared to analysts’ expectations of $152.38 million. During the same quarter in the previous year, the firm earned $0.25 EPS. Healthequity’s revenue was up 122.9% on a year-over-year basis.

A number of equities analysts have recently commented on HQY shares. Cantor Fitzgerald reissued a “buy” rating and set a $95.00 price target on shares of Healthequity in a report on Wednesday. Wells Fargo & Co lowered their price target on Healthequity from $80.00 to $76.00 and set an “outperformer” rating for the company in a report on Wednesday, September 4th. Deutsche Bank assumed coverage on Healthequity in a report on Thursday, September 12th. They set a “buy” rating and a $74.00 price target for the company. KeyCorp restated a “buy” rating and set a $77.00 price objective (up previously from $70.00) on shares of Healthequity in a research report on Wednesday. Finally, Zacks Investment Research upgraded Healthequity from a “sell” rating to a “buy” rating and set a $62.00 price objective on the stock in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Healthequity has an average rating of “Buy” and a consensus price target of $77.86.

In related news, CFO Darcy G. Mott sold 4,000 shares of the business’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $56.90, for a total transaction of $227,600.00. Following the sale, the chief financial officer now owns 42,000 shares in the company, valued at approximately $2,389,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 12,000 shares of company stock worth $715,600 in the last 90 days. 3.70% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HQY. BlackRock Inc. grew its position in shares of Healthequity by 13.1% in the 2nd quarter. BlackRock Inc. now owns 7,268,685 shares of the company’s stock valued at $475,373,000 after buying an additional 840,177 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Healthequity by 76.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,162,234 shares of the company’s stock valued at $76,010,000 after buying an additional 504,700 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in shares of Healthequity in the 2nd quarter valued at about $30,550,000. D. E. Shaw & Co. Inc. grew its position in shares of Healthequity by 1,745.8% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 476,201 shares of the company’s stock valued at $31,144,000 after buying an additional 450,402 shares during the last quarter. Finally, State Street Corp grew its position in shares of Healthequity by 18.7% in the 3rd quarter. State Street Corp now owns 2,189,161 shares of the company’s stock valued at $125,100,000 after buying an additional 344,173 shares during the last quarter. Hedge funds and other institutional investors own 95.84% of the company’s stock.

The business has a 50-day simple moving average of $59.78 and a 200 day simple moving average of $64.21. The stock has a market cap of $4.44 billion, a P/E ratio of 66.65, a price-to-earnings-growth ratio of 2.87 and a beta of 1.47. The company has a current ratio of 22.98, a quick ratio of 22.98 and a debt-to-equity ratio of 0.04.

Healthequity Company Profile (NASDAQ:HQY)

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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