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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.

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HealthEquity, Inc. (NASDAQ: HQY) reported robust financial results for fiscal year 2021, achieving $733.6 million in revenue, a 38% increase from $532 million in FY20. However, net income dropped to $8.8 million from $39.7 million year-over-year. The company's non-GAAP net income was $126.3 million, slightly up from $114.8 million. Q4 revenue declined 6% to $188.2 million, but net income rose to $5.4 million from a loss in Q4 FY20. For FY2022, HealthEquity anticipates revenue between $750 million and $760 million, with a projected net loss of up to $10 million.

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HealthEquity (NASDAQ: HQY) has acquired Luum, a technology platform focused on employee commute management, enhancing its offerings for hybrid workplaces. This strategic acquisition is aimed at providing employers with tools for flexible commuting solutions and sustainable practices, crucial as businesses adapt post-pandemic. Key benefits include safe commute options, policy flexibility, an employee commute portal, and improved corporate sustainability. The acquisition is expected to optimize workforce equity and aid in reducing carbon footprints associated with commuting.

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HealthEquity, Inc. (NASDAQ: HQY) announced the closing of an additional public offering of 750,000 common shares, resulting in gross proceeds of $60,225,000. These funds, along with $401.5 million from a previous February offering, will be used for acquisitions, debt repayment, and general corporate purposes. The offering was managed by BofA Securities. The shares were offered under an effective shelf registration statement filed with the SEC.

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HealthEquity, Inc. (NASDAQ: HQY) will release its fiscal year-end 2021 financial results on March 15, 2021, after market close. Following the announcement, management will conduct a conference call at 4:30 p.m. ET to discuss key highlights from the fourth quarter and annual results. HealthEquity administers over 12 million Health Savings Accounts (HSAs) and is positioned as the largest independent HSA custodian, serving a broad range of partners in the healthcare industry.

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HealthEquity, Inc. (NASDAQ: HQY) has successfully closed a public offering of 5 million shares, raising $401.5 million in gross proceeds. The underwriter has a 30-day option to buy an additional 750,000 shares. Proceeds will be used for potential acquisitions, debt repayment, and general corporate purposes. BofA Securities is the sole book-running manager for this offering, which is conducted under an effective shelf registration statement filed with the SEC.

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HealthEquity, Inc. (NASDAQ: HQY) announced a public offering of 5 million shares at a pricing that could yield gross proceeds of $401.5 million, expected to close on February 19, 2021. BofA Securities is the sole book-running manager for the offering, which is aimed at acquisitions, debt repayment, and general corporate purposes. Additionally, BofA has a 30-day option for another 750,000 shares. The offering is part of an effective shelf registration filed with the SEC.

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HealthEquity (NASDAQ: HQY) announced a $400 million common stock offering arranged by BofA Securities, intended for potential acquisitions, debt repayment, and general corporate purposes. Sales may occur through various methods including negotiated transactions and market prices. The offering is based on an effective shelf registration statement filed in September 2018. While it aims to strengthen the company's financial position, it may also lead to share dilution for existing shareholders.

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HealthEquity, Inc. reported impressive growth for the fiscal year ended January 31, 2021, with HSA assets reaching $14.3 billion, a 24% increase year-over-year. The total number of HSAs grew by 8% to 5.8 million. The company closed the fiscal year with 12.8 million Total Accounts, maintaining previous levels. HealthEquity provided revenue guidance of $740 million to $750 million for fiscal year 2022. However, net income for 2021 is forecasted between $5 million and $8 million.

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HealthEquity plans to disclose its fiscal year-end sales results on February 8, 2021, after market close. Following this, management will conduct a conference call at 4:30 p.m. ET to discuss the year-end sales data.

Additionally, HealthEquity's management will participate in several virtual investor conferences throughout February and March 2021, aiming to engage with investors and expand its market presence.

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HealthEquity (NASDAQ: HQY) announced it will disclose final sales results for fiscal year 2021 on February 8, 2021. The company estimates a rise in HSA members to 5.7-5.8 million and HSA assets to $13.6-$13.8 billion by January 31, 2021. Additionally, HSA cash is expected to reach $9.6-$9.7 billion, with investments growing to $4.0-$4.1 billion. The outlook for HSA cash yield for fiscal year 2022 has been raised to 1.75%-1.80%. The company will discuss these results during the JP Morgan Healthcare Conference on January 13, 2021.

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FAQ

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

The current stock price of HealthEquity (HQY) is $104.65 as of November 21, 2024.

What is the market cap of HealthEquity (HQY)?

The market cap of HealthEquity (HQY) is approximately 8.9B.

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.

HealthEquity, Inc

Nasdaq:HQY

HQY Rankings

HQY Stock Data

8.91B
85.56M
2.06%
103.62%
4.8%
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