Canaccord Genuity Group Forecasts Strong Price Appreciation for Health Catalyst (NASDAQ:HCAT) Stock

Health Catalyst (NASDAQ:HCAT) had its price target raised by stock analysts at Canaccord Genuity Group from $2.00 to $3.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 38.89% from the stock’s previous close.

Several other research analysts have also issued reports on HCAT. Wells Fargo & Company increased their target price on shares of Health Catalyst from $1.00 to $1.75 and gave the stock an “equal weight” rating in a research note on Friday, June 26th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Health Catalyst in a research note on Wednesday, June 24th. Stephens dropped their price objective on shares of Health Catalyst from $2.00 to $1.75 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Health Catalyst in a research report on Monday, May 11th. Four analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2.93.

Health Catalyst Price Performance

Shares of HCAT opened at $2.16 on Tuesday. The firm has a market cap of $159.60 million, a PE ratio of -0.58 and a beta of 1.56. Health Catalyst has a 52-week low of $0.96 and a 52-week high of $4.11. The business’s 50 day moving average price is $1.75 and its two-hundred day moving average price is $1.73. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.69 and a current ratio of 1.69.

Health Catalyst (NASDAQ:HCAT) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The company had revenue of $70.76 million during the quarter, compared to the consensus estimate of $69.24 million. Health Catalyst had a negative net margin of 87.69% and a negative return on equity of 3.52%. On average, equities analysts anticipate that Health Catalyst will post -0.25 EPS for the current year.

Hedge Funds Weigh In On Health Catalyst

Large investors have recently modified their holdings of the company. First Light Asset Management LLC grew its holdings in Health Catalyst by 17.2% during the second quarter. First Light Asset Management LLC now owns 12,230,181 shares of the company’s stock worth $46,108,000 after buying an additional 1,793,374 shares in the last quarter. Millennium Management LLC boosted its holdings 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 acquiring an additional 1,528,710 shares during the last quarter. RA Capital Management L.P. purchased a new position in Health Catalyst during the 4th quarter worth $1,897,000. HighMark Wealth Management LLC grew its stake in shares of Health Catalyst by 139.0% in the 4th quarter. HighMark Wealth Management LLC now owns 741,482 shares of the company’s stock worth $1,772,000 after acquiring an additional 431,200 shares in the last quarter. Finally, Nepsis Inc. grew its stake in shares of Health Catalyst by 26.6% in the 4th quarter. Nepsis Inc. now owns 1,915,794 shares of the company’s stock worth $4,579,000 after acquiring an additional 402,762 shares in the last quarter. 85.00% of the stock is currently owned by institutional investors.

Health Catalyst Company 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.