Health Catalyst (NASDAQ:HCAT) Given New $11.00 Price Target at Piper Sandler

Health Catalyst (NASDAQ:HCAT) had its price objective cut by analysts at Piper Sandler from $14.00 to $11.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective would indicate a potential upside of 51.10% from the stock’s current price.

A number of other brokerages also recently issued reports on HCAT. Wells Fargo & Company dropped their price target on shares of Health Catalyst from $14.00 to $13.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. Canaccord Genuity Group reissued a “buy” rating and issued a $11.00 price objective on shares of Health Catalyst in a report on Tuesday, May 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $16.00 price objective on shares of Health Catalyst in a report on Tuesday, August 20th. Evercore ISI dropped their price objective on shares of Health Catalyst from $9.00 to $8.00 and set an “outperform” rating on the stock in a report on Tuesday, July 9th. Finally, Stephens dropped their price objective on shares of Health Catalyst from $8.00 to $7.00 and set an “equal weight” rating on the stock in a report on Thursday, August 8th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Health Catalyst currently has an average rating of “Moderate Buy” and a consensus price target of $11.25.

Health Catalyst Stock Up 0.1 %

Shares of NASDAQ HCAT traded up $0.01 during trading on Monday, reaching $7.28. 171,195 shares of the company traded hands, compared to its average volume of 589,144. The firm has a 50 day simple moving average of $6.67 and a 200-day simple moving average of $7.07. The stock has a market capitalization of $429.77 million, a PE ratio of -3.88 and a beta of 1.32. Health Catalyst has a 52-week low of $5.42 and a 52-week high of $12.05.

Health Catalyst (NASDAQ:HCAT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. The firm had revenue of $75.90 million for the quarter, compared to the consensus estimate of $74.96 million. Health Catalyst had a negative net margin of 35.56% and a negative return on equity of 11.86%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.21) EPS. As a group, research analysts predict that Health Catalyst will post -0.4 EPS for the current year.

Insiders Place Their Bets

In other Health Catalyst news, COO Daniel Lesueur sold 5,209 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $6.19, for a total transaction of $32,243.71. Following the sale, the chief operating officer now owns 150,006 shares in the company, valued at approximately $928,537.14. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 13,035 shares of company stock worth $81,396. Company insiders own 2.70% of the company’s stock.

Institutional Investors Weigh In On Health Catalyst

Several institutional investors and hedge funds have recently modified their holdings of HCAT. First Light Asset Management LLC raised its position in shares of Health Catalyst by 438.5% during the second quarter. First Light Asset Management LLC now owns 3,956,089 shares of the company’s stock valued at $25,279,000 after buying an additional 3,221,408 shares during the last quarter. Millennium Management LLC raised its position in shares of Health Catalyst by 96.3% during the second quarter. Millennium Management LLC now owns 2,413,280 shares of the company’s stock valued at $15,421,000 after buying an additional 1,184,131 shares during the last quarter. Kennedy Capital Management LLC bought a new stake in shares of Health Catalyst during the first quarter valued at approximately $8,780,000. Primecap Management Co. CA raised its position in shares of Health Catalyst by 14.7% during the second quarter. Primecap Management Co. CA now owns 2,379,462 shares of the company’s stock valued at $15,205,000 after buying an additional 305,079 shares during the last quarter. Finally, Essex Investment Management Co. LLC bought a new stake in shares of Health Catalyst during the first quarter valued at approximately $1,848,000. Institutional investors own 85.00% of the company’s stock.

Health Catalyst Company Profile

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.