Piper Sandler Reiterates Overweight Rating for Health Catalyst (NASDAQ:HCAT)

Health Catalyst (NASDAQ:HCAT)‘s stock had its “overweight” rating reiterated by analysts at Piper Sandler in a research note issued on Tuesday,Benzinga reports. They presently have a $12.00 target price on the stock, up from their previous target price of $11.00. Piper Sandler’s price target suggests a potential upside of 38.73% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Health Catalyst from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $16.00 target price on shares of Health Catalyst in a research note on Friday, October 4th. Royal Bank of Canada increased their target price on Health Catalyst from $8.00 to $9.00 and gave the stock a “sector perform” rating in a report on Thursday, November 7th. Stephens boosted their price target on Health Catalyst from $7.00 to $9.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Finally, Evercore ISI increased their price objective on Health Catalyst from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $11.79.

Health Catalyst Stock Performance

Shares of Health Catalyst stock opened at $8.65 on Tuesday. The stock’s fifty day simple moving average is $8.13 and its 200 day simple moving average is $7.30. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $526.34 million, a PE ratio of -6.41 and a beta of 1.32. Health Catalyst has a 12 month low of $5.42 and a 12 month high of $11.41.

Health Catalyst (NASDAQ:HCAT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.03). Health Catalyst had a negative return on equity of 7.51% and a negative net margin of 26.20%. The business had revenue of $76.40 million during the quarter, compared to the consensus estimate of $76.27 million. During the same quarter last year, the company earned ($0.22) earnings per share. The firm’s revenue was up 3.5% compared to the same quarter last year. On average, research analysts predict that Health Catalyst will post -0.35 EPS for the current year.

Insider Transactions at Health Catalyst

In other Health Catalyst news, COO Daniel Lesueur sold 5,209 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $7.68, for a total transaction of $40,005.12. Following the transaction, the chief operating officer now owns 134,899 shares of the company’s stock, valued at $1,036,024.32. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kevin Lee Freeman sold 7,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 255,881 shares of the company’s stock, valued at approximately $1,847,460.82. The trade was a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,068 shares of company stock worth $257,555 in the last 90 days. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On Health Catalyst

Institutional investors and hedge funds have recently modified their holdings of the stock. Primecap Management Co. CA lifted its stake in shares of Health Catalyst by 14.7% during the 2nd quarter. Primecap Management Co. CA now owns 2,379,462 shares of the company’s stock worth $15,205,000 after buying an additional 305,079 shares during the last quarter. Janney Montgomery Scott LLC bought a new position in Health Catalyst in the 3rd quarter valued at about $897,000. Essex Investment Management Co. LLC acquired a new stake in Health Catalyst during the third quarter worth approximately $2,012,000. AQR Capital Management LLC bought a new stake in shares of Health Catalyst during the second quarter worth approximately $564,000. Finally, Millrace Asset Group Inc. acquired a new position in shares of Health Catalyst in the third quarter valued at approximately $1,568,000. 85.00% of the stock is currently owned by institutional investors and hedge funds.

About Health Catalyst

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.