Canaccord Genuity Group Lowers Health Catalyst (NASDAQ:HCAT) Price Target to $17.00

Health Catalyst (NASDAQ:HCATGet Rating) had its target price cut by Canaccord Genuity Group from $35.00 to $17.00 in a report released on Wednesday morning, The Fly reports.

Other research analysts have also recently issued research reports about the stock. The Goldman Sachs Group began coverage on shares of Health Catalyst in a report on Friday, February 11th. They issued a buy rating and a $48.00 price target for the company. Citigroup reduced their price target on shares of Health Catalyst from $45.00 to $25.00 in a report on Wednesday. Guggenheim began coverage on shares of Health Catalyst in a report on Wednesday, April 13th. They issued a buy rating and a $39.00 price target for the company. Piper Sandler reduced their price target on shares of Health Catalyst from $38.00 to $21.00 in a report on Wednesday. Finally, BTIG Research reduced their price target on shares of Health Catalyst from $60.00 to $50.00 and set a buy rating for the company in a report on Friday, March 25th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Buy and a consensus price target of $34.85.

Shares of NASDAQ HCAT opened at $16.13 on Wednesday. The stock has a market cap of $870.05 million, a P/E ratio of -5.20 and a beta of 1.18. The firm has a 50 day moving average price of $21.81 and a 200 day moving average price of $31.86. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.46 and a current ratio of 5.46. Health Catalyst has a 52-week low of $12.33 and a 52-week high of $59.50.

Health Catalyst (NASDAQ:HCATGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.05. The company had revenue of $68.09 million during the quarter, compared to analysts’ expectations of $66.01 million. Health Catalyst had a negative net margin of 57.95% and a negative return on equity of 20.23%. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.37) earnings per share. Analysts predict that Health Catalyst will post -1.8 earnings per share for the current fiscal year.

In other news, COO Paul Horstmeier sold 23,209 shares of the stock in a transaction dated Wednesday, March 9th. The shares were sold at an average price of $25.30, for a total value of $587,187.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Daniel H. Orenstein sold 4,112 shares of the stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $26.82, for a total transaction of $110,283.84. The disclosure for this sale can be found here. Insiders have sold 37,286 shares of company stock worth $934,979 over the last ninety days. Insiders own 2.00% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. CNA Financial Corp grew its stake in shares of Health Catalyst by 1.2% in the third quarter. CNA Financial Corp now owns 21,090 shares of the company’s stock valued at $1,055,000 after acquiring an additional 250 shares in the last quarter. Advisor Group Holdings Inc. grew its stake in shares of Health Catalyst by 27.3% in the third quarter. Advisor Group Holdings Inc. now owns 1,466 shares of the company’s stock valued at $73,000 after acquiring an additional 314 shares in the last quarter. Voya Investment Management LLC grew its stake in Health Catalyst by 1.9% during the third quarter. Voya Investment Management LLC now owns 17,616 shares of the company’s stock worth $881,000 after buying an additional 328 shares in the last quarter. Rhumbline Advisers grew its stake in Health Catalyst by 0.8% during the fourth quarter. Rhumbline Advisers now owns 49,095 shares of the company’s stock worth $1,945,000 after buying an additional 409 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its stake in Health Catalyst by 23.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 2,452 shares of the company’s stock worth $123,000 after buying an additional 463 shares in the last quarter. Institutional investors and hedge funds own 97.53% of the company’s stock.

About Health Catalyst (Get Rating)

Health Catalyst, Inc provides data and analytics technology and services to healthcare organizations. Its solutions include a cloud-based data platform, analytics software, and professional services. The company was formerly known as HQC Holdings, Inc and changed its name to Health Catalyst, Inc in March 2017.

Read More

The Fly logo

Analyst Recommendations for Health Catalyst (NASDAQ:HCAT)

Receive News & Ratings for Health Catalyst Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Health Catalyst and related companies with MarketBeat.com's FREE daily email newsletter.