Wells Fargo & Company Has Lowered Expectations for Health Catalyst (NASDAQ:HCAT) Stock Price

Health Catalyst (NASDAQ:HCAT) had its target price dropped by equities researchers at Wells Fargo & Company from $13.00 to $10.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 70.65% from the company’s current price.

Several other analysts have also recently commented on HCAT. Cantor Fitzgerald restated an “overweight” rating and set a $16.00 price target on shares of Health Catalyst in a report on Friday, October 4th. Royal Bank of Canada lowered their price target on shares of Health Catalyst from $9.00 to $7.00 and set a “sector perform” rating on the stock in a report on Wednesday, January 15th. Piper Sandler reiterated an “overweight” rating and set a $12.00 price objective (up from $11.00) on shares of Health Catalyst in a report on Tuesday, November 26th. KeyCorp upgraded Health Catalyst from a “sector weight” rating to an “overweight” rating and set a $9.00 target price on the stock in a research note on Wednesday, January 8th. Finally, Canaccord Genuity Group cut their price target on Health Catalyst from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Health Catalyst currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.91.

Health Catalyst Trading Up 6.7 %

NASDAQ HCAT traded up $0.37 on Tuesday, hitting $5.86. 668,066 shares of the stock were exchanged, compared to its average volume of 843,108. The company’s 50-day moving average price is $7.50 and its two-hundred day moving average price is $7.53. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.41 and a quick ratio of 1.41. Health Catalyst has a 52-week low of $5.35 and a 52-week high of $10.99. The company has a market capitalization of $356.58 million, a price-to-earnings ratio of -4.35 and a beta of 1.36.

Health Catalyst (NASDAQ:HCAT) last posted its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.03). The business had revenue of $76.40 million for the quarter, compared to analyst estimates of $76.27 million. Health Catalyst had a negative net margin of 26.20% and a negative return on equity of 7.51%. The firm’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.22) earnings per share. Research analysts predict that Health Catalyst will post -0.33 EPS for the current year.

Insiders Place Their Bets

In other Health Catalyst news, COO Daniel Lesueur sold 5,209 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $7.70, for a total transaction of $40,109.30. Following the completion of the transaction, the chief operating officer now owns 129,690 shares of the company’s stock, valued at $998,613. The trade was a 3.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Linda Llewelyn sold 6,442 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $5.80, for a total value of $37,363.60. Following the completion of the sale, the insider now directly owns 92,260 shares in the company, valued at approximately $535,108. This represents a 6.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 81,169 shares of company stock valued at $639,174 over the last 90 days. 2.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. First Light Asset Management LLC increased its position in 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 worth $25,279,000 after acquiring an additional 3,221,408 shares during the period. Impax Asset Management Group plc grew its position in Health Catalyst by 16.4% in the 3rd quarter. Impax Asset Management Group plc now owns 2,554,475 shares of the company’s stock worth $20,793,000 after purchasing an additional 360,201 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Health Catalyst by 96.3% during the 2nd quarter. Millennium Management LLC now owns 2,413,280 shares of the company’s stock worth $15,421,000 after purchasing an additional 1,184,131 shares during the period. Primecap Management Co. CA raised its position in shares of Health Catalyst by 1.1% during the third quarter. Primecap Management Co. CA now owns 2,404,462 shares of the company’s stock valued at $19,572,000 after buying an additional 25,000 shares during the last quarter. Finally, Daventry Group LP lifted its stake in shares of Health Catalyst by 3.9% in the second quarter. Daventry Group LP now owns 2,247,053 shares of the company’s stock valued at $14,359,000 after buying an additional 84,178 shares during the period. 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.