Canaccord Genuity Group Lowers Health Catalyst (NASDAQ:HCAT) Price Target to $10.00

Health Catalyst (NASDAQ:HCAT) had its target price lowered by Canaccord Genuity Group from $11.00 to $10.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would indicate a potential upside of 78.25% from the company’s current price.

Several other research firms also recently weighed in on HCAT. Stephens raised their price target on shares of Health Catalyst from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Citigroup decreased their target price on shares of Health Catalyst from $10.50 to $10.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Evercore ISI increased their price target on Health Catalyst from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Piper Sandler reiterated an “overweight” rating and set a $12.00 price objective (up previously from $11.00) on shares of Health Catalyst in a research report on Tuesday, November 26th. Finally, KeyCorp raised Health Catalyst from a “sector weight” rating to an “overweight” rating and set a $9.00 price objective on the stock in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Health Catalyst has a consensus rating of “Moderate Buy” and a consensus target price of $10.91.

Health Catalyst Stock Performance

HCAT opened at $5.61 on Tuesday. The firm has a fifty day moving average price of $7.45 and a 200 day moving average price of $7.52. Health Catalyst has a 1 year low of $5.35 and a 1 year high of $10.99. The stock has a market cap of $341.37 million, a P/E ratio of -4.16 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.41 and a quick ratio of 1.41.

Health Catalyst (NASDAQ:HCAT) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). Health Catalyst had a negative return on equity of 7.51% and a negative net margin of 26.20%. The business had revenue of $76.40 million during the quarter, compared to analyst estimates of $76.27 million. During the same period in the previous year, the company posted ($0.22) EPS. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities research analysts anticipate that Health Catalyst will post -0.33 earnings per share for the current year.

Insider Buying and Selling at Health Catalyst

In other news, insider Kevin Lee Freeman sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $8.94, for a total value of $67,050.00. Following the completion of the transaction, the insider now owns 236,950 shares of the company’s stock, valued at $2,118,333. The trade was a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Jason Alger sold 19,599 shares of Health Catalyst stock in a transaction dated Friday, December 6th. The shares were 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 81,169 shares of company stock worth $639,174. 2.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Health Catalyst

A number of hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC bought a new stake in shares of Health Catalyst in the 3rd quarter valued at approximately $897,000. Fred Alger Management LLC bought a new stake in Health Catalyst during the third quarter valued at $6,858,000. Millrace Asset Group Inc. bought a new position in shares of Health Catalyst in the 3rd quarter worth about $1,568,000. Point72 Asset Management L.P. lifted its position in shares of Health Catalyst by 69.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 516,934 shares of the company’s stock worth $4,208,000 after buying an additional 211,805 shares during the last quarter. Finally, Essex Investment Management Co. LLC acquired a new position in shares of Health Catalyst in the 3rd quarter valued at about $2,012,000. 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.