Palogic Value Management L.P. Makes New Investment in Health Catalyst, Inc. $HCAT

Palogic Value Management L.P. purchased a new stake in Health Catalyst, Inc. (NASDAQ:HCAT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,922,442 shares of the company’s stock, valued at approximately $9,796,000. Health Catalyst comprises 3.2% of Palogic Value Management L.P.’s investment portfolio, making the stock its 5th biggest position. Palogic Value Management L.P. owned approximately 6.54% of Health Catalyst at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new stake in Health Catalyst in the 2nd quarter valued at approximately $3,654,000. First Light Asset Management LLC increased its position in Health Catalyst by 17.2% during the 2nd quarter. First Light Asset Management LLC now owns 12,230,181 shares of the company’s stock worth $46,108,000 after purchasing an additional 1,793,374 shares in the last quarter. Millennium Management LLC increased its position in Health Catalyst by 2,513.3% during the 3rd quarter. Millennium Management LLC now owns 1,589,536 shares of the company’s stock worth $4,530,000 after purchasing an additional 1,528,710 shares in the last quarter. RA Capital Management L.P. acquired a new position in Health Catalyst in the 4th quarter valued at about $1,897,000. Finally, HighMark Wealth Management LLC lifted its holdings in Health Catalyst by 139.0% in the 4th quarter. HighMark Wealth Management LLC now owns 741,482 shares of the company’s stock valued at $1,772,000 after purchasing an additional 431,200 shares in the last quarter. 85.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on HCAT shares. Wells Fargo & Company cut their price objective on shares of Health Catalyst from $1.75 to $1.50 and set an “equal weight” rating for the company in a research report on Thursday, August 13th. Weiss Ratings raised Health Catalyst from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, July 28th. Citigroup reduced their target price on Health Catalyst from $2.50 to $2.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 11th. Canaccord Genuity Group restated a “hold” rating and issued a $1.80 price target (down from $3.00) on shares of Health Catalyst in a report on Thursday, August 20th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Health Catalyst in a research note on Monday, May 11th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $2.71.

Health Catalyst Trading Up 0.6%

Shares of HCAT stock opened at $1.59 on Thursday. The stock has a market cap of $119.66 million, a price-to-earnings ratio of -0.43 and a beta of 1.55. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 1.51. Health Catalyst, Inc. has a fifty-two week low of $0.96 and a fifty-two week high of $3.80. The firm’s 50 day moving average price is $1.98 and its two-hundred day moving average price is $1.66.

Health Catalyst (NASDAQ:HCAT) last issued its earnings results on Thursday, August 6th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. Health Catalyst had a negative net margin of 90.61% and a negative return on equity of 1.83%. The business had revenue of $70.49 million for the quarter, compared to the consensus estimate of $69.09 million. On average, analysts anticipate that Health Catalyst, Inc. will post -0.22 EPS for the current year.

Health Catalyst Profile

Health Catalyst (NASDAQ: HCAT) is a healthcare data and analytics technology company founded in 2008 and headquartered in Salt Lake City, Utah. The company went public in 2019 and has since focused on delivering a unified data platform that helps healthcare organizations aggregate and analyze clinical, financial and operational information.

The core of Health Catalyst’s offering is the Data Operating System (DOS), a modular data management platform that integrates disparate data sources—from electronic health records to claims and patient-generated data—into a single analytics environment.