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HealthEquity, Inc - HQY STOCK NEWS

Welcome to our dedicated page for HealthEquity news (Ticker: HQY), a resource for investors and traders seeking the latest updates and insights on HealthEquity stock.

HealthEquity, Inc. (HQY) is the nation's oldest and largest dedicated health savings trustee, providing innovative solutions that empower individuals and families to save and spend on healthcare efficiently. The company offers an integrated platform for health care account administration and investment, bolstered by round-the-clock support, personalized savings strategies, and comprehensive consumer education.

Founded by Dr. Stephen Neeleman, HealthEquity partners with over 14,000 employers and 60 national health plans to streamline benefits spending. Its offerings include Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), Consolidated Omnibus Budget Reconciliation Act (COBRA) administration, commuter benefits, and more.

As of October 31, 2023, HealthEquity manages 15.3 million accounts, including 8.3 million HSAs, with assets totaling $22.6 billion. This includes $14.0 billion in HSA cash and $8.6 billion in HSA investments. The company’s recent acquisition of the BenefitWallet HSA portfolio added approximately $2.8 billion in assets, emphasizing its leadership in the health savings space.

Financially, HealthEquity reported a robust third quarter in 2023, with $249.2 million in revenue, reflecting a 15% year-over-year growth. The company's net income for the quarter stood at $14.7 million, or $0.17 per diluted share. Adjusted EBITDA increased by 30% to $95.6 million, underscoring HealthEquity’s growth and operational efficiency.

Looking forward, HealthEquity projects fiscal year 2024 revenue to be between $985 million and $995 million. The company aims to maintain strong growth through its focus on enhancing consumer experiences and leveraging its extensive partnerships across the health benefits ecosystem.

News

HealthEquity Announces Year-End HSA Sales Outlook; Presentation at J.P. Morgan Healthcare Conference; Investor Day

Rhea-AI Summary
HealthEquity, the nation’s largest health savings account (HSA) custodian, announced estimates of HSAs, HSA assets, and total accounts for its fiscal year ending January 31, 2024. Estimated HSAs to be approximately 8.7 million, estimated HSA assets to be approximately $24.5 billion, and estimated total accounts to be approximately 15.6 million. The company also expects to beat its full-year goals for its Enhanced Rates offering, with over 30% of HSA cash assets expected to be in Enhanced Rates and a 40% increase in capacity with highly rated insurance partners in fiscal 2024.
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HealthEquity Forum to Unveil 2024's Top Employee Benefits Trends: AI, Cost Management, and More

Rhea-AI Summary
HealthEquity, Inc. (NASDAQ: HQY) sponsors an end-of-year forum on 'The top 4 employee benefits trends to watch for in 2024', focusing on healthcare cost management, AI in healthcare, and elevating benefits literacy among a diverse workforce. The panel features industry experts and HealthEquity executives who will discuss strategies to combat rising healthcare costs and improve benefits literacy.
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HealthEquity Reports Third Quarter Ended October 31, 2023 Financial Results

Rhea-AI Summary
HealthEquity, Inc. (NASDAQ: HQY) reported a revenue of $249.2 million, a 15% increase from Q3 FY23, with a net income of $14.7 million and non-GAAP net income of $52.2 million. The company also agreed to acquire the BenefitWallet HSA portfolio, expecting revenue of $985 million to $995 million for fiscal year 2024.
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HealthEquity Sets Date to Announce Third Quarter Results

Rhea-AI Summary
HealthEquity, Inc. (NASDAQ: HQY) plans to release its third quarter fiscal 2024 financial results on December 5, 2023, after the close of regular stock market trading hours. The company will host a conference call for investors to review the results at 4:30 p.m. ET on the same day.
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HealthEquity Named Top Workplace in Rankings Nationwide

Rhea-AI Summary
HealthEquity, Inc. (NASDAQ: HQY) has been recognized as a Top Place to Work in multiple regional rankings, highlighting the company's commitment to fostering an empowering and inclusive culture. The awards, based on workforce feedback, emphasize HealthEquity's performance in leadership, purpose, values, innovation, compensation, benefits, and work-life flexibility.
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UPDATE: Conduent’s BenefitWallet HSA Portfolio Moving to HealthEquity

Rhea-AI Summary
Conduent and HealthEquity have entered into an agreement to transfer BenefitWallet's HSA portfolio to HealthEquity for approximately $425 million. The portfolio includes 665,000 customer accounts and $2.7 billion of HSA assets. The transfer is expected to close in the first half of 2024. Conduent plans to maintain modest levels of net leverage with the proceeds.
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Conduent’s BenefitWallet HSA Portfolio Moving to HealthEquity

Rhea-AI Summary
Conduent and HealthEquity have agreed to transfer BenefitWallet's HSA portfolio to HealthEquity for approximately $425 million, including 665,000 customer accounts and $2.7 billion of HSA assets. The transaction is expected to close in the first half of 2024. Conduent plans to maintain modest levels of net leverage with the proceeds.
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HealthEquity Reports Second Quarter Ended July 31, 2023 Financial Results

Rhea-AI Summary
HealthEquity reports record HSA asset growth and margin expansion in Q2 FY23. Revenue increased by 18% to $243.5 million. Net income was $10.6 million, compared to a net loss of $10.7 million in Q2 FY23. Adjusted EBITDA increased by 31% to $88.1 million. HSA assets increased by 13% to $23.2 billion. Total accounts increased by 3% to 15.0 million. Business outlook for FY24 includes expected revenue of $980 million to $990 million and Adjusted EBITDA of $338 million to $348 million.
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HealthEquity Announces Inaugural "HSA Week" to Increase Consumer Education and Engagement

Rhea-AI Summary
HealthEquity, Inc. has launched an inaugural 'HSA Week' to enhance financial literacy around consumer-directed benefits like HSAs. A recent survey revealed that 68% of benefits leaders believe low understanding of benefits causes some employee groups to be underserved.
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HealthEquity Sets Date to Announce Second Quarter Results Presentation at Conferences

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FAQ

What is the current stock price of HealthEquity (HQY)?

The current stock price of HealthEquity (HQY) is $98.825 as of November 8, 2024.

What is the market cap of HealthEquity (HQY)?

The market cap of HealthEquity (HQY) is approximately 8.5B.

What services does HealthEquity, Inc. provide?

HealthEquity offers health savings accounts (HSAs), flexible spending accounts (FSAs), health reimbursement arrangements (HRAs), COBRA administration, commuter benefits, and more.

Who are HealthEquity's partners?

HealthEquity partners with over 14,000 employers and 60 national health plans to help streamline benefits spending and enhance consumer savings.

How many accounts does HealthEquity manage?

As of October 31, 2023, HealthEquity manages 15.3 million accounts, including 8.3 million HSAs.

What is the total value of HSA assets managed by HealthEquity?

HealthEquity manages $22.6 billion in HSA assets as of October 31, 2023.

What was HealthEquity's revenue for the third quarter of 2023?

HealthEquity reported a revenue of $249.2 million for the third quarter ended October 31, 2023.

What recent acquisition did HealthEquity complete?

HealthEquity recently acquired the BenefitWallet HSA portfolio from Conduent Business Services, LLC, adding approximately $2.8 billion in HSA assets.

What are HealthEquity's projected revenues for fiscal year 2024?

HealthEquity expects revenues between $985 million and $995 million for the fiscal year ending January 31, 2024.

When was HealthEquity founded?

HealthEquity was founded by Dr. Stephen Neeleman, a practicing trauma surgeon and author of the Complete HSA Guidebook.

Where is HealthEquity headquartered?

HealthEquity is based in Draper, Utah.

What is HealthEquity's service philosophy?

HealthEquity is dedicated to providing exceptional 'Purple' service, offering round-the-clock support, personalized savings strategies, and consumer education.

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HealthEquity, Inc

Nasdaq:HQY

HQY Rankings

#963 Ranked by Market Cap
N/A Ranked by Dividends

HQY Stock Data

8.52B
87.32M
2.06%
102.64%
5.05%
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