Health Catalyst (NASDAQ:HCAT) Given New $7.00 Price Target at Royal Bank of Canada

Health Catalyst (NASDAQ:HCAT) had its target price lowered by Royal Bank of Canada from $9.00 to $7.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a sector perform rating on the stock.

A number of other analysts have also recently weighed in on HCAT. Cantor Fitzgerald reiterated an “overweight” rating and set a $16.00 price target on shares of Health Catalyst in a research report on Friday, October 4th. Evercore ISI increased their price target on Health Catalyst from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Citigroup decreased their price target on Health Catalyst from $10.50 to $10.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Piper Sandler reaffirmed an “overweight” rating and set a $12.00 price target (up from $11.00) on shares of Health Catalyst in a research note on Tuesday, November 26th. Finally, Stephens increased their price target on Health Catalyst from $7.00 to $9.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Health Catalyst currently has an average rating of “Moderate Buy” and a consensus price target of $11.27.

Health Catalyst Stock Performance

Shares of HCAT opened at $5.76 on Wednesday. Health Catalyst has a one year low of $5.42 and a one year high of $11.06. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.41 and a quick ratio of 1.41. The stock has a 50-day moving average price of $7.73 and a 200 day moving average price of $7.54.

Health Catalyst (NASDAQ:HCAT) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 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 business had revenue of $76.40 million during the quarter, compared to analysts’ expectations of $76.27 million. During the same period in the prior year, the company posted ($0.22) EPS. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities analysts forecast that Health Catalyst will post -0.33 earnings per share for the current fiscal year.

Insider Transactions at Health Catalyst

In other news, CFO Jason Alger sold 19,599 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $8.32, for a total value of $163,063.68. Following the completion of the sale, the chief financial officer now owns 86,712 shares of the company’s stock, valued at $721,443.84. This trade represents a 18.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Duncan Gallagher sold 4,500 shares of the firm’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $6.98, for a total value of $31,410.00. Following the completion of the sale, the director now directly owns 74,438 shares of the company’s stock, valued at approximately $519,577.24. This trade represents a 5.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 74,727 shares of company stock valued at $601,810 in the last three months. 2.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Health Catalyst

Hedge funds and other institutional investors have recently modified their holdings of the business. First Light Asset Management LLC raised its holdings in shares of Health Catalyst by 438.5% during the second quarter. First Light Asset Management LLC now owns 3,956,089 shares of the company’s stock worth $25,279,000 after acquiring an additional 3,221,408 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Health Catalyst by 96.3% during the second quarter. Millennium Management LLC now owns 2,413,280 shares of the company’s stock worth $15,421,000 after acquiring an additional 1,184,131 shares in the last quarter. Nepsis Inc. raised its holdings in shares of Health Catalyst by 67.9% during the third quarter. Nepsis Inc. now owns 2,104,528 shares of the company’s stock worth $17,131,000 after acquiring an additional 851,448 shares in the last quarter. Fred Alger Management LLC purchased a new stake in shares of Health Catalyst during the third quarter worth $6,858,000. Finally, Portolan Capital Management LLC purchased a new stake in shares of Health Catalyst during the third quarter worth $5,402,000. Institutional investors and hedge funds own 85.00% of the company’s stock.

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.