Zacks Investment Research Downgrades Health Catalyst (NASDAQ:HCAT) to Hold

Zacks Investment Research downgraded shares of Health Catalyst (NASDAQ:HCAT) from a buy rating to a hold rating in a research report released on Tuesday, Zacks.com reports.

According to Zacks, “Health Catalyst Inc. is a provider of data and analytics technology and services to healthcare organizations. Health Catalyst Inc. is based in Salt Lake City, Utah. “

Other analysts have also issued research reports about the stock. SVB Leerink reaffirmed a buy rating on shares of Health Catalyst in a report on Sunday, September 26th. Jefferies Financial Group initiated coverage on shares of Health Catalyst in a report on Wednesday, December 1st. They set a hold rating and a $48.00 target price for the company. Citigroup decreased their price target on shares of Health Catalyst from $68.00 to $55.00 and set a buy rating for the company in a report on Monday, December 20th. Finally, BTIG Research initiated coverage on shares of Health Catalyst in a report on Thursday, October 14th. They issued a buy rating and a $60.00 price target for the company. Two research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Buy and an average target price of $59.82.

HCAT opened at $32.06 on Tuesday. The company has a fifty day moving average price of $41.05 and a two-hundred day moving average price of $49.06. Health Catalyst has a 52 week low of $31.46 and a 52 week high of $59.50. The firm has a market capitalization of $1.67 billion, a PE ratio of -9.77 and a beta of 0.71.

Health Catalyst (NASDAQ:HCAT) last released its earnings results on Tuesday, November 9th. The company reported ($0.18) EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.04. Health Catalyst had a negative net margin of 63.88% and a negative return on equity of 22.56%. The firm had revenue of $61.74 million during the quarter, compared to analyst estimates of $60.95 million. During the same quarter in the previous year, the business earned ($0.44) EPS. Equities analysts forecast that Health Catalyst will post -1.95 earnings per share for the current fiscal year.

In related news, COO Paul Horstmeier sold 10,750 shares of the business’s stock in a transaction on Wednesday, January 5th. The shares were sold at an average price of $36.78, for a total value of $395,385.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Daniel D. Burton sold 36,212 shares of the business’s stock in a transaction on Friday, December 3rd. The shares were sold at an average price of $40.62, for a total transaction of $1,470,931.44. The disclosure for this sale can be found here. Insiders sold a total of 114,012 shares of company stock worth $4,757,532 over the last ninety days. 2.00% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the business. Russell Investments Group Ltd. raised its holdings in shares of Health Catalyst by 167.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 8,185 shares of the company’s stock valued at $454,000 after purchasing an additional 5,121 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Health Catalyst by 17.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 21,511 shares of the company’s stock worth $1,194,000 after acquiring an additional 3,239 shares in the last quarter. Teacher Retirement System of Texas bought a new position in Health Catalyst in the 2nd quarter valued at approximately $267,000. Rhumbline Advisers raised its stake in shares of Health Catalyst by 19.6% during the second quarter. Rhumbline Advisers now owns 43,616 shares of the company’s stock valued at $2,421,000 after acquiring an additional 7,133 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of Health Catalyst by 112.1% during the second quarter. Swiss National Bank now owns 82,500 shares of the company’s stock valued at $4,580,000 after acquiring an additional 43,600 shares during the last quarter.

Health Catalyst Company Profile

Health Catalyst, Inc engages in the provision of data and analytics technology and services to healthcare organizations. It operates through the Technology, and Professional Services segments. The Technology segment includes its data platform, analytics applications, and support services. The Professional Services segment combines analytics, implementation, strategic advisory, outsource, and improvement services to deliver expertise to its customers.

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