Health Catalyst (NASDAQ:HCAT) Stock Price Up 8% on Analyst Upgrade

Health Catalyst, Inc. (NASDAQ:HCAT) shares rose 8% on Wednesday after Citigroup raised their price target on the stock from $9.00 to $10.50. Citigroup currently has a buy rating on the stock. Health Catalyst traded as high as $8.83 and last traded at $8.78. Approximately 84,323 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 561,146 shares. The stock had previously closed at $8.13.

A number of other equities analysts also recently weighed in on the company. Piper Sandler reduced 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. Royal Bank of Canada lifted their target price on Health Catalyst from $8.00 to $9.00 and gave the company a “sector perform” rating in a research report on Thursday, November 7th. 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 report on Tuesday, October 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $16.00 price target on shares of Health Catalyst in a research report on Friday, October 4th. Finally, Stephens decreased their price objective on shares of Health Catalyst from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Health Catalyst has a consensus rating of “Moderate Buy” and a consensus target price of $11.54.

Insider Activity

In related news, COO Daniel Lesueur sold 5,209 shares of Health Catalyst stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $7.70, for a total transaction of $40,109.30. Following the sale, the chief operating officer now directly owns 129,690 shares of the company’s stock, valued at approximately $998,613. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Health Catalyst news, insider Kevin Lee Freeman sold 7,500 shares of the business’s stock in a transaction that occurred 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 directly owns 255,881 shares of the company’s stock, valued at approximately $1,847,460.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Daniel Lesueur sold 5,209 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $7.70, for a total transaction of $40,109.30. Following the sale, the chief operating officer now owns 129,690 shares of the company’s stock, valued at $998,613. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,396 shares of company stock valued at $266,280. 2.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HCAT. Primecap Management Co. CA raised its stake in shares of Health Catalyst by 14.7% in the second quarter. Primecap Management Co. CA now owns 2,379,462 shares of the company’s stock worth $15,205,000 after purchasing an additional 305,079 shares during the last quarter. Kennedy Capital Management LLC purchased a new stake in shares of Health Catalyst in the first quarter valued at about $8,780,000. Acadian Asset Management LLC lifted its position in shares of Health Catalyst by 38.3% during the first quarter. Acadian Asset Management LLC now owns 724,560 shares of the company’s stock valued at $5,453,000 after purchasing an additional 200,494 shares in the last quarter. Essex Investment Management Co. LLC bought a new position in shares of Health Catalyst during the 3rd quarter worth approximately $2,012,000. Finally, AQR Capital Management LLC purchased a new position in shares of Health Catalyst in the 2nd quarter worth approximately $564,000. 85.00% of the stock is currently owned by institutional investors and hedge funds.

Health Catalyst Trading Up 6.6 %

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 capitalization of $527.57 million, a P/E ratio of -6.55 and a beta of 1.32. The firm has a fifty day moving average price of $8.11 and a 200-day moving average price of $7.19.

Health Catalyst (NASDAQ:HCAT) last announced its quarterly earnings data 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). The business had revenue of $76.40 million during the quarter, compared to the consensus estimate of $76.27 million. Health Catalyst had a negative net margin of 26.20% and a negative return on equity of 7.51%. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.22) EPS. On average, equities research analysts anticipate that Health Catalyst, Inc. will post -0.35 earnings per share for the current year.

About Health Catalyst

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.