Royal Bank of Canada Issues Pessimistic Forecast for Health Catalyst (NASDAQ:HCAT) Stock Price

Health Catalyst (NASDAQ:HCAT) had its target price lowered by stock analysts at Royal Bank of Canada from $9.00 to $7.00 in a report released on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective points to a potential upside of 21.95% from the company’s previous close.

Other analysts have also recently issued research reports about the company. KeyCorp upgraded Health Catalyst from a “sector weight” rating to an “overweight” rating and set a $9.00 price objective for the company in a research report on Wednesday, January 8th. Evercore ISI upped their price target on Health Catalyst from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 8th. Piper Sandler restated an “overweight” rating and issued a $12.00 price target (up previously from $11.00) on shares of Health Catalyst in a research report on Tuesday, November 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $16.00 price target on shares of Health Catalyst in a research report on Friday, October 4th. Finally, Stephens increased their target price on Health Catalyst from $7.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Health Catalyst presently has an average rating of “Moderate Buy” and a consensus target price of $11.27.

Health Catalyst Stock Performance

Shares of NASDAQ:HCAT traded down $0.16 during midday trading on Wednesday, reaching $5.74. 37,971 shares of the company’s stock traded hands, compared to its average volume of 565,028. The company has a market cap of $349.27 million, a price-to-earnings ratio of -4.25 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.41 and a current ratio of 1.41. Health Catalyst has a one year low of $5.42 and a one year high of $11.06. The stock has a 50 day moving average of $7.73 and a 200 day moving average of $7.54.

Health Catalyst (NASDAQ:HCAT) last posted its quarterly earnings data 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 for 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 firm’s revenue was up 3.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.22) EPS. As a group, equities research analysts anticipate that Health Catalyst will post -0.33 EPS for the current fiscal year.

Insider Activity at Health Catalyst

In other news, insider Kevin Lee Freeman sold 7,500 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now directly owns 236,950 shares of the company’s stock, valued at $2,118,333. This trade represents a 3.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Daniel Lesueur sold 5,209 shares of Health Catalyst stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $7.70, for a total value of $40,109.30. Following the completion of the transaction, the chief operating officer now owns 129,690 shares of the company’s stock, valued at approximately $998,613. This trade represents a 3.86 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 74,727 shares of company stock valued at $601,810. Insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Health Catalyst

Several hedge funds have recently made changes to their positions in HCAT. Rhumbline Advisers lifted its holdings in shares of Health Catalyst by 9.1% in the 2nd quarter. Rhumbline Advisers now owns 91,111 shares of the company’s stock worth $582,000 after buying an additional 7,589 shares during the period. American Century Companies Inc. raised its position in shares of Health Catalyst by 1.4% in the 2nd quarter. American Century Companies Inc. now owns 683,464 shares of the company’s stock worth $4,367,000 after acquiring an additional 9,466 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Health Catalyst by 17.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 331,847 shares of the company’s stock worth $2,121,000 after acquiring an additional 50,297 shares in the last quarter. Primecap Management Co. CA raised its position in shares of Health Catalyst by 14.7% in the 2nd quarter. Primecap Management Co. CA now owns 2,379,462 shares of the company’s stock worth $15,205,000 after acquiring an additional 305,079 shares in the last quarter. Finally, Hsbc Holdings PLC raised its position in shares of Health Catalyst by 35.9% in the 2nd quarter. Hsbc Holdings PLC now owns 78,327 shares of the company’s stock worth $479,000 after acquiring an additional 20,672 shares in the last quarter. 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.