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

Health Catalyst (NASDAQ:HCAT) had its target price decreased by equities researchers at Canaccord Genuity Group from $11.00 to $10.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 82.15% from the company’s current price.

A number of other equities research analysts also recently weighed in on HCAT. Evercore ISI boosted their target price on Health Catalyst from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Stephens boosted their price objective on Health Catalyst from $7.00 to $9.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Citigroup cut 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 report on Friday, January 10th. 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. Finally, Piper Sandler restated an “overweight” rating and issued a $12.00 price objective (up from $11.00) on shares of Health Catalyst in a report on Tuesday, November 26th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.18.

Health Catalyst Stock Performance

Health Catalyst stock opened at $5.49 on Tuesday. The stock has a 50-day simple moving average of $7.50 and a 200 day simple moving average of $7.53. The stock has a market capitalization of $334.07 million, a price-to-earnings ratio of -4.07 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.

Health Catalyst (NASDAQ:HCAT) last announced 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 for 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%. Health Catalyst’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.22) earnings per share. On average, research analysts anticipate that Health Catalyst will post -0.33 earnings per share for the current fiscal year.

Insider Transactions at Health Catalyst

In other news, COO Daniel Lesueur sold 5,209 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was 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 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 transaction, the chief financial officer now owns 86,712 shares in the company, valued at $721,443.84. This trade represents 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 over the last three months. 2.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Health Catalyst

Large investors have recently made changes to their positions in the stock. Quest Partners LLC bought a new stake in Health Catalyst in the 3rd quarter valued at $34,000. Quarry LP grew its stake in shares of 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 in the last quarter. nVerses Capital LLC acquired a new stake in shares of Health Catalyst in the third quarter valued at approximately $59,000. Quadrature Capital Ltd bought a new stake in shares of Health Catalyst in the third quarter worth $84,000. Finally, Mackenzie Financial Corp acquired a new position in Health Catalyst during the second quarter worth $70,000. Institutional investors 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.