Why Shares of HealthEquity Are Up Tuesday
Shares of (NASDAQ: HQY) were up more than 13% Tuesday morning after the healthcare services company reported earnings after the markets closed on Monday. The stock is up more than 9% so far this year and climbed to as high as $67.78 in the morning.
HealthEquity is the largest health savings account (HSA) custodian company in the U.S. The stock rose after the company reported first-quarter revenue of $244.4 million, up 19% year over year, and said it had net income of $4.1 million, compared to a loss of $13.6 million in the same period a year ago. HealthEquity also said it had earnings per share (EPS) of $0.05 compared to an EPS loss of $0.16 in the same period a year ago.
On the company's first-quarter earnings call, CEO John Kessler cited recent acquisitions and growth in accounts and assets for the improved numbers.
Source Fool.com
