Health Catalyst (NASDAQ:HCAT) Price Target Raised to $3.00

Health Catalyst (NASDAQ:HCAT) had its price target raised by Canaccord Genuity Group from $2.00 to $3.00 in a research report sent to investors on Tuesday morning, Marketbeat Ratings reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other research analysts have also recently commented on HCAT. Cantor Fitzgerald restated a “neutral” rating on shares of Health Catalyst in a research report on Monday, May 11th. Wells Fargo & Company upped their price objective on shares of Health Catalyst from $1.00 to $1.75 and gave the stock an “equal weight” rating in a research report on Friday, June 26th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Health Catalyst in a research note on Wednesday, June 24th. Finally, Stephens decreased their target price 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. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Health Catalyst has a consensus rating of “Hold” and a consensus target price of $2.93.

Health Catalyst Trading Down 1.5%

Shares of HCAT stock opened at $2.01 on Tuesday. The stock has a market cap of $148.52 million, a P/E ratio of -0.54 and a beta of 1.56. Health Catalyst has a 1 year low of $0.96 and a 1 year high of $4.11. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 1.10. The stock has a 50 day simple moving average of $1.79 and a 200 day simple moving average of $1.72.

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

Institutional Trading of Health Catalyst

Several institutional investors and hedge funds have recently modified their holdings of HCAT. Focus Partners Wealth bought a new position in Health Catalyst in the first quarter valued at about $46,000. nVerses Capital LLC bought a new position in shares of Health Catalyst in the fourth quarter worth about $25,000. Cresset Asset Management LLC bought a new position in shares of Health Catalyst in the second quarter worth about $39,000. BNP Paribas Financial Markets boosted its stake in shares of Health Catalyst by 71.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 16,355 shares of the company’s stock valued at $47,000 after purchasing an additional 6,832 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Health Catalyst by 19.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,491 shares of the company’s stock valued at $100,000 after purchasing an additional 4,341 shares in the last quarter. 85.00% of the stock is currently owned by institutional investors.

About Health Catalyst

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.