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

Health Catalyst (NASDAQ:HCAT) had its target price lowered by analysts at Royal Bank of Canada from $9.00 to $7.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target indicates a potential upside of 27.27% from the company’s current price.

Several other brokerages also recently issued reports on HCAT. Stephens upped their price objective on Health Catalyst from $7.00 to $9.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. KeyCorp upgraded shares of Health Catalyst from a “sector weight” rating to an “overweight” rating and set a $9.00 target price on the stock in a report on Wednesday, January 8th. Piper Sandler reiterated an “overweight” rating and set a $12.00 price target (up from $11.00) on shares of Health Catalyst in a report on Tuesday, November 26th. Citigroup reduced their price objective on shares of Health Catalyst from $10.50 to $10.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Evercore ISI raised their target price 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. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.27.

Health Catalyst Stock Performance

Shares of HCAT opened at $5.50 on Wednesday. Health Catalyst has a 12-month low of $5.42 and a 12-month high of $10.99. The stock has a market cap of $334.68 million, a P/E ratio of -4.07 and a beta of 1.36. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average of $7.68 and a two-hundred day moving average of $7.53.

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

Insider Activity at Health Catalyst

In related news, insider Kevin Lee Freeman sold 7,500 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $8.94, for a total transaction of $67,050.00. Following the completion of the sale, the insider now owns 236,950 shares of the company’s stock, valued at approximately $2,118,333. This represents a 3.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Duncan Gallagher sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $6.93, for a total transaction of $31,185.00. Following the completion of the transaction, the director now owns 69,938 shares in the company, valued at $484,670.34. The trade was a 6.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 74,727 shares of company stock worth $601,810. 2.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Health Catalyst

Several institutional investors have recently bought and sold shares of HCAT. Avanza Fonder AB acquired a new position in shares of Health Catalyst during the 4th quarter valued at $184,000. Franklin Resources Inc. raised its position in Health Catalyst by 5.8% in the third quarter. Franklin Resources Inc. now owns 104,141 shares of the company’s stock valued at $857,000 after purchasing an additional 5,687 shares during the period. Geode Capital Management LLC lifted its stake in shares of Health Catalyst by 4.9% during the third quarter. Geode Capital Management LLC now owns 1,443,036 shares of the company’s stock worth $11,749,000 after purchasing an additional 66,896 shares in the last quarter. Zacks Investment Management boosted its position in shares of Health Catalyst by 6.7% in the third 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 during the period. Finally, State Street Corp grew its stake in shares of Health Catalyst by 2.5% in the third quarter. State Street Corp now owns 1,163,754 shares of the company’s stock valued at $9,473,000 after buying an additional 28,251 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.