Citigroup Forecasts Strong Price Appreciation for Health Catalyst (NASDAQ:HCAT) Stock

Health Catalyst (NASDAQ:HCAT) had its target price lifted by research analysts at Citigroup from $9.00 to $10.50 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 24.26% from the company’s current price.

Several other analysts also recently weighed in on the company. JPMorgan Chase & Co. lifted their target price on Health Catalyst from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Royal Bank of Canada raised their target price on shares of Health Catalyst from $8.00 to $9.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $16.00 target price on shares of Health Catalyst in a research report on Friday, October 4th. Stephens lowered their price target on Health Catalyst from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. Finally, Piper Sandler decreased their price target on Health Catalyst from $14.00 to $11.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $11.71.

Health Catalyst Stock Down 2.4 %

Shares of HCAT stock opened at $8.45 on Wednesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.41 and a current ratio of 1.41. The business has a 50 day moving average of $8.13 and a two-hundred day moving average of $7.20. Health Catalyst has a 52 week low of $5.42 and a 52 week high of $11.41.

Health Catalyst (NASDAQ:HCAT) last posted its earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Health Catalyst had a negative net margin of 26.20% and a negative return on equity of 7.51%. The company had revenue of $76.40 million during the quarter, compared to the consensus estimate of $76.27 million. During the same quarter in the previous year, the business posted ($0.22) earnings per share. The business’s quarterly revenue was up 3.5% compared to the same quarter last year. As a group, equities analysts predict that Health Catalyst will post -0.35 earnings per share for the current fiscal year.

Insider Activity at Health Catalyst

In other news, COO Daniel Lesueur sold 5,209 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $7.70, for a total value of $40,109.30. Following the completion of the transaction, the chief operating officer now directly owns 129,690 shares of the company’s stock, valued at approximately $998,613. This represents a 3.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kevin Lee Freeman sold 7,500 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $7.22, for a total value of $54,150.00. Following the transaction, the insider now owns 255,881 shares of the company’s stock, valued at $1,847,460.82. This represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,068 shares of company stock worth $257,555. Company insiders own 2.50% of the company’s stock.

Institutional Trading of Health Catalyst

Several hedge funds have recently modified their holdings of the stock. First Light Asset Management LLC raised its stake in Health Catalyst by 438.5% during the 2nd quarter. First Light Asset Management LLC now owns 3,956,089 shares of the company’s stock worth $25,279,000 after buying an additional 3,221,408 shares during the period. Millennium Management LLC grew its position in shares of Health Catalyst by 96.3% in the 2nd quarter. Millennium Management LLC now owns 2,413,280 shares of the company’s stock valued at $15,421,000 after purchasing an additional 1,184,131 shares during the period. Kennedy Capital Management LLC bought a new stake in Health Catalyst during the 1st quarter worth approximately $8,780,000. Nepsis Inc. raised its holdings in Health Catalyst by 67.9% during the 3rd quarter. Nepsis Inc. now owns 2,104,528 shares of the company’s stock worth $17,131,000 after buying an additional 851,448 shares during the period. Finally, Fred Alger Management LLC acquired a new stake in Health Catalyst during the 3rd quarter worth approximately $6,858,000. 85.00% of the stock is owned by institutional investors.

Health Catalyst Company Profile

Health Catalyst, Inc provides data and analytics technology and services to healthcare organizations in the United States. It operates in two segments, Technology and Professional Services. The company provides data operating system data platform which provides clients single comprehensive environment to integrate and organize data from their disparate software systems; and analytics applications, a software analytics applications build for data platform to analyze clients face across clinical and quality, population health, and financial and operational use cases.