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

Health Catalyst (NASDAQ:HCAT) had its price objective reduced by Canaccord Genuity Group from $11.00 to $10.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently commented on HCAT. Evercore ISI boosted their target price on shares of Health Catalyst from $8.00 to $10.00 and gave the company an “outperform” rating in a research note on Tuesday, October 8th. Citigroup reduced their price target on shares of Health Catalyst from $10.50 to $10.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. KeyCorp raised shares of 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. Stephens lifted their target price on shares of Health Catalyst from $7.00 to $9.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, Piper Sandler reissued an “overweight” rating and issued a $12.00 target price (up from $11.00) on shares of Health Catalyst in a report on Tuesday, November 26th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Health Catalyst currently has a consensus rating of “Moderate Buy” and a consensus target price of $10.91.

Health Catalyst Stock Performance

NASDAQ:HCAT opened at $5.79 on Tuesday. The firm has a market capitalization of $352.32 million, a PE ratio of -4.29 and a beta of 1.36. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.32. Health Catalyst has a 12-month low of $5.35 and a 12-month high of $10.99. The firm has a 50-day moving average price of $7.39 and a 200 day moving average price of $7.51.

Health Catalyst (NASDAQ:HCAT) last issued 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). The company had revenue of $76.40 million during the quarter, compared to analyst estimates of $76.27 million. Health Catalyst had a negative return on equity of 7.51% and a negative net margin of 26.20%. The company’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.22) earnings per share. Research analysts anticipate that Health Catalyst will post -0.33 earnings per share for the current fiscal year.

Insider Activity at Health Catalyst

In other news, General Counsel Benjamin Landry sold 19,268 shares of the company’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $8.32, for a total transaction of $160,309.76. Following the transaction, the general counsel now owns 72,250 shares of the company’s stock, valued at $601,120. This represents a 21.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Jason Alger sold 19,599 shares of the firm’s 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 transaction, the chief financial officer now owns 86,712 shares in the company, valued at approximately $721,443.84. This represents a 18.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 81,169 shares of company stock valued at $639,174 over the last quarter. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Health Catalyst

Several institutional investors have recently modified their holdings of the business. Quest Partners LLC bought a new stake in Health Catalyst in the third quarter valued at about $34,000. Quarry LP raised its holdings in Health Catalyst by 59.4% in the second quarter. Quarry LP now owns 7,002 shares of the company’s stock worth $45,000 after purchasing an additional 2,610 shares during the period. nVerses Capital LLC bought a new position in shares of Health Catalyst during the third quarter worth $59,000. Mackenzie Financial Corp acquired a new position in shares of Health Catalyst in the 2nd quarter valued at $70,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Health Catalyst in the 3rd quarter valued at $84,000. 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.