Health Catalyst (NASDAQ:HCAT) Price Target Cut to $6.00 by Analysts at Royal Bank of Canada

Health Catalyst (NASDAQ:HCAT) had its target price cut by Royal Bank of Canada from $7.00 to $6.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 50.75% from the stock’s previous close.

Several other research analysts also recently commented on HCAT. KeyCorp upgraded Health Catalyst from a “sector weight” rating to an “overweight” rating and set a $9.00 target price for the company in a research note on Wednesday, January 8th. Canaccord Genuity Group reduced their price objective on shares of Health Catalyst from $11.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Piper Sandler dropped their price objective on shares of Health Catalyst from $12.00 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Stifel Nicolaus cut their target price on shares of Health Catalyst from $10.00 to $5.00 and set a “hold” rating for the company in a research note on Thursday. Finally, Stephens reiterated an “equal weight” rating and issued a $7.00 price target on shares of Health Catalyst in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.45.

Health Catalyst Stock Performance

Shares of HCAT traded down $0.96 during midday trading on Thursday, reaching $3.98. The stock had a trading volume of 928,387 shares, compared to its average volume of 780,416. Health Catalyst has a one year low of $3.76 and a one year high of $9.24. The firm has a market cap of $242.18 million, a PE ratio of -2.95 and a beta of 1.34. The firm has a 50 day simple moving average of $6.09 and a 200-day simple moving average of $7.26. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.32.

Insider Buying and Selling at Health Catalyst

In other news, COO Daniel Lesueur sold 5,209 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $7.51, for a total value of $39,119.59. Following the completion of the transaction, the chief operating officer now directly owns 91,253 shares in the company, valued at approximately $685,310.03. The trade was a 5.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jason Alger sold 19,599 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $8.32, for a total transaction of $163,063.68. Following the sale, the chief financial officer now directly owns 86,712 shares of the company’s stock, valued at approximately $721,443.84. This trade represents a 18.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 87,610 shares of company stock valued at $664,043 in the last three months. Corporate insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in shares of Health Catalyst during the 4th quarter worth $29,000. Group One Trading LLC grew its position in Health Catalyst by 107.6% in the fourth quarter. Group One Trading LLC now owns 4,360 shares of the company’s stock valued at $31,000 after acquiring an additional 2,260 shares during the last quarter. Quest Partners LLC acquired a new position in Health Catalyst during the third quarter worth about $34,000. Aquatic Capital Management LLC acquired a new position in Health Catalyst during the fourth quarter worth about $63,000. Finally, Stoneridge Investment Partners LLC bought a new position in shares of Health Catalyst in the fourth quarter worth about $77,000. 85.00% of the stock is currently owned by institutional investors and hedge funds.

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.