Oppenheimer Weighs in on Healthequity Inc’s Q2 2020 Earnings (NASDAQ:HQY)

Healthequity Inc (NASDAQ:HQY) – Analysts at Oppenheimer decreased their Q2 2020 EPS estimates for shares of Healthequity in a research note issued to investors on Wednesday, June 5th, Zacks Investment Research reports. Oppenheimer analyst M. Naidu now anticipates that the company will post earnings per share of $0.23 for the quarter, down from their prior forecast of $0.25. Oppenheimer has a “Outperform” rating and a $98.00 price target on the stock. Oppenheimer also issued estimates for Healthequity’s Q3 2020 earnings at $0.23 EPS.

Healthequity (NASDAQ:HQY) last announced its quarterly earnings results on Tuesday, June 4th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.11. The company had revenue of $87.05 million for the quarter, compared to analysts’ expectations of $83.98 million. Healthequity had a net margin of 30.60% and a return on equity of 14.17%.

A number of other equities research analysts have also recently commented on the stock. Citigroup reiterated a “buy” rating on shares of Healthequity in a report on Friday. BidaskClub downgraded shares of Healthequity from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Raymond James increased their price objective on shares of Healthequity from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Monday, June 10th. Bank of America reiterated a “neutral” rating and issued a $75.00 price target (down from $83.00) on shares of Healthequity in a research report on Wednesday, June 5th. Finally, JPMorgan Chase & Co. set a $80.00 price target on shares of Healthequity and gave the stock an “overweight” rating in a research report on Wednesday, June 5th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $86.25.

HQY traded down $1.15 during midday trading on Friday, reaching $64.25. The company’s stock had a trading volume of 1,000,316 shares, compared to its average volume of 908,541. The company’s 50-day simple moving average is $68.01. Healthequity has a 1 year low of $50.29 and a 1 year high of $101.58. The company has a debt-to-equity ratio of 0.07, a current ratio of 15.60 and a quick ratio of 15.59. The company has a market capitalization of $4.10 billion, a price-to-earnings ratio of 67.63, a price-to-earnings-growth ratio of 2.58 and a beta of 1.46.

In other news, VP Darcy G. Mott sold 4,000 shares of the stock in a transaction on Monday, May 20th. The shares were sold at an average price of $68.17, for a total value of $272,680.00. Following the completion of the sale, the vice president now directly owns 64,100 shares of the company’s stock, valued at $4,369,697. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 12,000 shares of company stock valued at $824,560. Corporate insiders own 3.70% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. MERIAN GLOBAL INVESTORS UK Ltd purchased a new position in shares of Healthequity in the 4th quarter worth $28,000. Manchester Capital Management LLC purchased a new position in shares of Healthequity in the 1st quarter worth $36,000. Global Retirement Partners LLC grew its stake in shares of Healthequity by 72.7% in the 1st quarter. Global Retirement Partners LLC now owns 556 shares of the company’s stock worth $41,000 after buying an additional 234 shares in the last quarter. Financial Gravity Wealth Inc. purchased a new position in shares of Healthequity in the 1st quarter worth $45,000. Finally, Quantamental Technologies LLC grew its stake in shares of Healthequity by 5,683.3% in the 1st quarter. Quantamental Technologies LLC now owns 694 shares of the company’s stock worth $51,000 after buying an additional 682 shares in the last quarter. 96.03% of the stock is owned by hedge funds and other institutional investors.

Healthequity Company Profile

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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Earnings History and Estimates for Healthequity (NASDAQ:HQY)

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