Health Catalyst (NASDAQ:HCAT) Price Target Lowered to $7.00 at Royal Bank of Canada

Health Catalyst (NASDAQ:HCAT) had its price target dropped by stock analysts at Royal Bank of Canada from $9.00 to $7.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 27.27% from the stock’s current price.

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

Health Catalyst Stock Performance

NASDAQ:HCAT opened at $5.50 on Wednesday. The firm has a 50-day moving average of $7.68 and a two-hundred day moving average of $7.53. 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 stock has a market cap of $334.68 million, a P/E ratio of -4.07 and a beta of 1.36. Health Catalyst has a 1-year low of $5.42 and a 1-year high of $10.99.

Health Catalyst (NASDAQ:HCAT) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.03). Health Catalyst had a negative return on equity of 7.51% and a negative net margin of 26.20%. The business had revenue of $76.40 million during the quarter, compared to analyst estimates of $76.27 million. During the same quarter last year, the firm posted ($0.22) EPS. The company’s revenue was up 3.5% compared to the same quarter last year. On average, research analysts expect that Health Catalyst will post -0.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Kevin Lee Freeman sold 7,500 shares of Health Catalyst stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $8.94, for a total transaction of $67,050.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jason Alger sold 19,599 shares of the stock in a transaction that occurred on Friday, December 6th. The stock was 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 directly owns 86,712 shares of the company’s stock, valued at $721,443.84. This trade represents a 18.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 74,727 shares of company stock worth $601,810 in the last three months. 2.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Avanza Fonder AB acquired a new position in shares of Health Catalyst during the fourth quarter valued at $184,000. Franklin Resources Inc. grew its position in Health Catalyst by 5.8% in the 3rd quarter. Franklin Resources Inc. now owns 104,141 shares of the company’s stock valued at $857,000 after buying an additional 5,687 shares in the last quarter. Geode Capital Management LLC increased its stake in Health Catalyst by 4.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,443,036 shares of the company’s stock valued at $11,749,000 after buying an additional 66,896 shares during the period. Zacks Investment Management raised its position in shares of Health Catalyst by 6.7% during the 3rd quarter. Zacks Investment Management now owns 296,121 shares of the company’s stock worth $2,410,000 after buying an additional 18,677 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Health Catalyst by 2.5% in the 3rd quarter. State Street Corp now owns 1,163,754 shares of the company’s stock worth $9,473,000 after acquiring an additional 28,251 shares during the period. 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.