Piper Sandler Lowers Health Catalyst (NASDAQ:HCAT) Price Target to $8.00

Health Catalyst (NASDAQ:HCAT) had its price objective cut by analysts at Piper Sandler from $12.00 to $8.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s price target would indicate a potential upside of 39.13% from the stock’s current price.

A number of other analysts have also recently commented on HCAT. KeyCorp raised shares of Health Catalyst from a “sector weight” rating to an “overweight” rating and set a $9.00 target price for the company in a report on Wednesday, January 8th. Canaccord Genuity Group reduced their price objective on Health Catalyst from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Royal Bank of Canada decreased their target price on Health Catalyst from $9.00 to $7.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 15th. Citigroup cut their price target on Health Catalyst from $10.50 to $10.00 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, Wells Fargo & Company decreased their price objective on Health Catalyst from $13.00 to $10.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.20.

Health Catalyst Trading Up 0.9 %

Health Catalyst stock opened at $5.75 on Tuesday. The business has a 50-day simple moving average of $6.80 and a two-hundred day simple moving average of $7.41. Health Catalyst has a 52-week low of $5.32 and a 52-week high of $10.31. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.32. The company has a market cap of $349.88 million, a P/E ratio of -4.26 and a beta of 1.34.

Insider Transactions at Health Catalyst

In other news, CFO Jason Alger sold 19,599 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $721,443.84. The trade was a 18.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kevin Lee Freeman sold 7,500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $8.94, for a total value of $67,050.00. Following the transaction, the insider now owns 236,950 shares of the company’s stock, valued at approximately $2,118,333. The trade was a 3.07 % 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 $629,068 over the last 90 days. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Health Catalyst

A number of hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC purchased a new position in Health Catalyst during the 2nd quarter valued at approximately $564,000. The Manufacturers Life Insurance Company grew its stake in shares of Health Catalyst by 10.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,162 shares of the company’s stock worth $148,000 after buying an additional 2,164 shares in the last quarter. Creative Planning increased its holdings in shares of Health Catalyst by 13.2% in the 3rd quarter. Creative Planning now owns 21,348 shares of the company’s stock worth $174,000 after buying an additional 2,486 shares during the last quarter. Probity Advisors Inc. raised its position in shares of Health Catalyst by 13.3% during the 3rd quarter. Probity Advisors Inc. now owns 23,045 shares of the company’s stock valued at $188,000 after buying an additional 2,699 shares in the last quarter. Finally, nVerses Capital LLC bought a new position in shares of Health Catalyst in the 3rd quarter valued at about $59,000. 85.00% of the stock is currently owned by hedge funds and other institutional investors.

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.