Canaccord Genuity Group Cuts Health Catalyst (NASDAQ:HCAT) Price Target to $9.00

Health Catalyst (NASDAQ:HCAT) had its price target reduced by Canaccord Genuity Group from $10.00 to $9.00 in a research note issued to investors on Thursday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. Piper Sandler dropped their price target on Health Catalyst from $12.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Wells Fargo & Company cut 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. Citigroup dropped their price target on Health Catalyst from $7.00 to $6.50 and set a “buy” rating on the stock in a research note on Friday, April 25th. KeyCorp cut their price target on Health Catalyst from $7.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Finally, Stifel Nicolaus lifted their price target on Health Catalyst from $5.00 to $5.50 and gave the stock a “hold” rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.00.

Health Catalyst Stock Performance

HCAT stock opened at $4.14 on Thursday. 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 $290.67 million, a P/E ratio of -3.07 and a beta of 1.56. The business’s fifty day moving average is $4.13 and its 200-day moving average is $5.92. Health Catalyst has a twelve month low of $3.56 and a twelve month high of $9.24.

Insider Buying and Selling

In related news, COO Daniel Lesueur sold 16,902 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $4.52, for a total transaction of $76,397.04. Following the transaction, the chief operating officer now owns 216,250 shares in the company, valued at $977,450. The trade was a 7.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Linda Llewelyn sold 6,441 shares of Health Catalyst stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $5.43, for a total value of $34,974.63. Following the completion of the sale, the insider now owns 85,819 shares in the company, valued at approximately $465,997.17. This represents a 6.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,588 shares of company stock valued at $217,259 over the last three months. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Health Catalyst

A number of large investors have recently modified their holdings of HCAT. First Light Asset Management LLC boosted its position in Health Catalyst by 22.0% during the 4th quarter. First Light Asset Management LLC now owns 5,241,121 shares of the company’s stock valued at $37,055,000 after acquiring an additional 944,631 shares in the last quarter. Impax Asset Management Group plc lifted its position in Health Catalyst by 7.7% during the fourth quarter. Impax Asset Management Group plc now owns 2,750,000 shares of the company’s stock valued at $19,442,000 after buying an additional 195,525 shares during the period. Daventry Group LP grew its position in shares of Health Catalyst by 3.8% in the 4th quarter. Daventry Group LP now owns 2,509,480 shares of the company’s stock worth $17,742,000 after buying an additional 91,878 shares during the period. Nepsis Inc. increased its stake in shares of Health Catalyst by 2,072.1% in the 1st quarter. Nepsis Inc. now owns 2,090,812 shares of the company’s stock worth $9,471,000 after acquiring an additional 1,994,555 shares in the last quarter. Finally, Alyeska Investment Group L.P. increased its stake in shares of Health Catalyst by 74.4% in the 4th quarter. Alyeska Investment Group L.P. now owns 2,019,380 shares of the company’s stock worth $14,277,000 after acquiring an additional 861,150 shares in the last quarter. 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.