Royal Bank of Canada Issues Positive Forecast for Health Catalyst (NASDAQ:HCAT) Stock Price

Health Catalyst (NASDAQ:HCAT) had its target price lifted by equities research analysts at Royal Bank of Canada from $8.00 to $9.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 9.22% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Health Catalyst from $10.00 to $13.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 4th. Cantor Fitzgerald restated an “overweight” rating and set a $16.00 price target on shares of Health Catalyst in a research report on Friday, October 4th. Stephens reduced their price target on shares of Health Catalyst from $8.00 to $7.00 and set an “equal weight” rating for the company in a research report on Thursday, August 8th. Piper Sandler reduced their price target on shares of Health Catalyst from $14.00 to $11.00 and set an “overweight” rating for the company in a research report on Monday, August 26th. Finally, Evercore ISI upped their price target 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. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.64.

Health Catalyst Stock Performance

NASDAQ:HCAT traded down $0.62 during trading hours on Thursday, reaching $8.24. The company’s stock had a trading volume of 674,743 shares, compared to its average volume of 485,899. The stock has a 50 day moving average price of $8.07 and a two-hundred day moving average price of $7.14. Health Catalyst has a 12 month low of $5.42 and a 12 month high of $11.41.

Health Catalyst (NASDAQ:HCAT) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.03). The business had revenue of $76.40 million during the quarter, compared to analysts’ expectations of $76.27 million. Health Catalyst had a negative net margin of 26.20% and a negative return on equity of 7.49%. Health Catalyst’s revenue for the quarter was up 3.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.22) earnings per share. On average, sell-side analysts predict that Health Catalyst will post -0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Kevin Lee Freeman sold 7,500 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $7.22, for a total value of $54,150.00. Following the sale, the insider now directly owns 255,881 shares in the company, valued at approximately $1,847,460.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Health Catalyst news, insider Kevin Lee Freeman sold 7,500 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $7.22, for a total transaction of $54,150.00. Following the transaction, the insider now directly owns 255,881 shares of the company’s stock, valued at approximately $1,847,460.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Daniel Lesueur sold 8,137 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $7.58, for a total transaction of $61,678.46. Following the transaction, the chief operating officer now directly owns 140,108 shares in the company, valued at $1,062,018.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,396 shares of company stock valued at $266,280. Company insiders own 2.50% of the company’s stock.

Institutional Trading of Health Catalyst

Several institutional investors and hedge funds have recently modified their holdings of HCAT. ClariVest Asset Management LLC raised its stake in Health Catalyst by 303.9% during the first quarter. ClariVest Asset Management LLC now owns 282,325 shares of the company’s stock worth $2,126,000 after purchasing an additional 212,425 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Health Catalyst in the 1st quarter worth about $1,079,000. Inspire Investing LLC bought a new stake in Health Catalyst in the 1st quarter valued at about $355,000. Gruss & Co. LLC bought a new stake in Health Catalyst in the 1st quarter valued at about $188,000. Finally, Acadian Asset Management LLC lifted its position in Health Catalyst by 38.3% in the 1st quarter. Acadian Asset Management LLC now owns 724,560 shares of the company’s stock valued at $5,453,000 after purchasing an additional 200,494 shares during the last quarter. Hedge funds and other 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.