HealthEquity (NASDAQ:HQY – Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.08-2.16 for the period, compared to the consensus estimate of $2.03. The company issued revenue guidance of $985-995 million, compared to the consensus revenue estimate of $989.00 million.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HQY. Barrington Research reaffirmed an outperform rating and set a $85.00 price objective on shares of HealthEquity in a research report on Monday. Royal Bank of Canada boosted their price objective on shares of HealthEquity from $75.00 to $77.00 and gave the company an outperform rating in a research report on Wednesday, September 6th. StockNews.com began coverage on shares of HealthEquity in a research report on Thursday, October 5th. They issued a hold rating for the company. Deutsche Bank Aktiengesellschaft boosted their target price on shares of HealthEquity from $71.00 to $72.00 and gave the stock a buy rating in a research report on Thursday, September 7th. Finally, Robert W. Baird upgraded shares of HealthEquity from a neutral rating to an outperform rating and boosted their price objective for the stock from $79.00 to $87.00 in a research note on Thursday, September 21st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, HealthEquity has a consensus rating of Moderate Buy and a consensus target price of $82.75.

Check Out Our Latest Stock Report on HealthEquity

HealthEquity Stock Down 0.1 %

HQY traded down $0.04 during trading on Tuesday, reaching $69.02. 1,125,534 shares of the stock were exchanged, compared to its average volume of 659,235. The stock has a market cap of $5.91 billion, a P/E ratio of 467.00, a price-to-earnings-growth ratio of 1.91 and a beta of 0.71. HealthEquity has a twelve month low of $48.86 and a twelve month high of $76.62. The stock’s 50 day moving average price is $70.67 and its two-hundred day moving average price is $66.88. The company has a debt-to-equity ratio of 0.45, a quick ratio of 4.09 and a current ratio of 4.09.

HealthEquity (NASDAQ:HQY – Get Free Report) last released its quarterly earnings results on Tuesday, September 5th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.28 by $0.06. The business had revenue of $243.55 million for the quarter, compared to the consensus estimate of $238.89 million. HealthEquity had a net margin of 1.37% and a return on equity of 5.08%. Equities analysts expect that HealthEquity will post 1.36 EPS for the current year.

Insider Transactions at HealthEquity

In other news, insider Tyson D. Murdock sold 1,000 shares of the business’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $76.55, for a total transaction of $76,550.00. Following the completion of the transaction, the insider now owns 68,818 shares of the company’s stock, valued at $5,268,017.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Tyson D. Murdock sold 1,000 shares of the business’s stock in a transaction dated Friday, October 13th. The stock was sold at an average price of $76.55, for a total transaction of $76,550.00. Following the completion of the transaction, the insider now owns 68,818 shares of the company’s stock, valued at $5,268,017.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jon Kessler sold 46,818 shares of the business’s stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $75.03, for a total value of $3,512,754.54. Following the transaction, the chief executive officer now directly owns 213,991 shares of the company’s stock, valued at approximately $16,055,744.73. The disclosure for this sale can be found here. Insiders have sold 62,144 shares of company stock worth $4,622,991 in the last ninety days. Company insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of HQY. PNC Financial Services Group Inc. raised its stake in shares of HealthEquity by 31.8% in the first quarter. PNC Financial Services Group Inc. now owns 13,547 shares of the company’s stock worth $913,000 after buying an additional 3,266 shares during the period. AlphaCrest Capital Management LLC bought a new position in shares of HealthEquity in the first quarter worth about $234,000. Natixis Advisors L.P. bought a new position in shares of HealthEquity in the first quarter worth about $932,000. Bank of Montreal Can raised its stake in shares of HealthEquity by 44.5% in the first quarter. Bank of Montreal Can now owns 8,218 shares of the company’s stock worth $553,000 after buying an additional 2,532 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of HealthEquity by 2.2% in the first quarter. Rhumbline Advisers now owns 231,307 shares of the company’s stock worth $15,599,000 after buying an additional 4,880 shares during the period. 98.46% of the stock is owned by institutional investors.

About HealthEquity (Get Free Report)

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, 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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Original: MarketBeat News Feed: HealthEquity (NASDAQ:HQY) Releases FY24 Earnings Guidance