Canaccord Genuity Group Has Lowered Expectations for Health Catalyst (NASDAQ:HCAT) Stock Price

Health Catalyst (NASDAQ:HCAT) had its target price reduced by investment analysts at Canaccord Genuity Group from $11.00 to $10.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 78.25% from the stock’s current price.

A number of other analysts have also issued reports on the company. Evercore ISI raised their target price on Health Catalyst from $8.00 to $10.00 and gave the company an “outperform” rating in a report on Tuesday, October 8th. Cantor Fitzgerald restated an “overweight” rating and issued a $16.00 price objective on shares of Health Catalyst in a research note on Friday, October 4th. KeyCorp raised shares of Health Catalyst from a “sector weight” rating to an “overweight” rating and set a $9.00 target price on the stock in a research report on Wednesday, January 8th. Piper Sandler reissued an “overweight” rating and issued a $12.00 price target (up from $11.00) on shares of Health Catalyst in a report on Tuesday, November 26th. Finally, Royal Bank of Canada dropped their price objective on shares of Health Catalyst from $9.00 to $7.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $10.91.

Health Catalyst Stock Performance

Health Catalyst stock opened at $5.61 on Tuesday. Health Catalyst has a fifty-two week low of $5.35 and a fifty-two week high of $10.99. The firm’s 50 day simple moving average is $7.45 and its 200-day simple moving average is $7.52. 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 company has a market cap of $341.37 million, a P/E ratio of -4.16 and a beta of 1.36.

Health Catalyst (NASDAQ:HCAT) last issued its 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). The firm had revenue of $76.40 million during the quarter, compared to analysts’ expectations of $76.27 million. Health Catalyst had a negative net margin of 26.20% and a negative return on equity of 7.51%. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.22) EPS. As a group, equities research analysts predict that Health Catalyst will post -0.33 EPS for the current year.

Insider Buying and Selling at Health Catalyst

In other Health Catalyst news, insider Kevin Lee Freeman sold 7,500 shares of the stock in a transaction dated Monday, December 2nd. The stock was 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 directly owns 236,950 shares in the company, valued at approximately $2,118,333. This trade represents a 3.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jason Alger sold 19,599 shares of the firm’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $8.32, for a total transaction of $163,063.68. Following the transaction, the chief financial officer now directly owns 86,712 shares of the company’s stock, valued at $721,443.84. The trade was a 18.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 81,169 shares of company stock valued at $639,174 in the last ninety days. 2.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Health Catalyst

A number of large investors have recently bought and sold shares of the stock. Harbor Capital Advisors Inc. lifted its holdings in shares of Health Catalyst by 21.3% in the third quarter. Harbor Capital Advisors Inc. now owns 11,764 shares of the company’s stock valued at $96,000 after purchasing an additional 2,064 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in Health Catalyst by 10.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,162 shares of the company’s stock valued at $148,000 after buying an additional 2,164 shares during the last quarter. Creative Planning lifted its stake in Health Catalyst by 13.2% during the 3rd quarter. Creative Planning now owns 21,348 shares of the company’s stock valued at $174,000 after acquiring an additional 2,486 shares in the last quarter. Quarry LP boosted its holdings in Health Catalyst by 59.4% during the 2nd quarter. Quarry LP now owns 7,002 shares of the company’s stock worth $45,000 after acquiring an additional 2,610 shares during the last quarter. Finally, Probity Advisors Inc. grew its stake in shares of Health Catalyst by 13.3% in the 3rd quarter. Probity Advisors Inc. now owns 23,045 shares of the company’s stock worth $188,000 after acquiring an additional 2,699 shares in the last quarter. 85.00% of the stock is currently owned by institutional investors and hedge funds.

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.