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

Health Catalyst (NASDAQ:HCAT) had its price objective boosted by stock analysts at Royal Bank of Canada from $8.00 to $9.00 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 would indicate a potential upside of 3.33% from the stock’s current price.

HCAT has been the topic of several other reports. Stephens decreased their price target on shares of Health Catalyst from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 8th. JPMorgan Chase & Co. lifted their price target on shares of Health Catalyst from $10.00 to $13.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 4th. Evercore ISI raised their price objective on shares of Health Catalyst from $8.00 to $10.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Piper Sandler decreased their target price on shares of Health Catalyst from $14.00 to $11.00 and set an “overweight” rating on the stock in a research report on Monday, August 26th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $16.00 price objective on shares of Health Catalyst in a research note on Friday, October 4th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.64.

Health Catalyst Price Performance

Health Catalyst stock traded up $0.46 during mid-day trading on Thursday, hitting $8.71. The company’s stock had a trading volume of 341,207 shares, compared to its average volume of 560,446. Health Catalyst has a 52-week low of $5.42 and a 52-week high of $11.41. The firm’s 50 day moving average is $8.01 and its 200 day moving average is $7.11. The company has a market cap of $526.69 million, a PE ratio of -5.81 and a beta of 1.32.

Health Catalyst (NASDAQ:HCAT) last released its earnings results on Wednesday, August 7th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.04. Health Catalyst had a negative return on equity of 9.38% and a negative net margin of 28.87%. The firm had revenue of $75.90 million for the quarter, compared to analyst estimates of $74.96 million. During the same quarter last year, the firm posted ($0.21) EPS. The company’s revenue was up 3.7% on a year-over-year basis. As a group, analysts forecast that Health Catalyst will post -0.35 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 dated Thursday, October 3rd. The shares were sold at an average price of $7.68, for a total value of $40,005.12. Following the completion of the transaction, the chief operating officer now directly owns 134,899 shares of the company’s stock, valued at approximately $1,036,024.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Kevin Lee Freeman sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $7.22, for a total value of $54,150.00. Following the transaction, the insider now 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 Securities & Exchange Commission, which is available through this hyperlink. Also, 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 sale, the chief operating officer now directly owns 134,899 shares of the company’s stock, valued at approximately $1,036,024.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 30,187 shares of company stock valued at $226,171 in the last 90 days. 2.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in HCAT. Nisa Investment Advisors LLC raised its position in shares of Health Catalyst by 461.0% in the 2nd quarter. Nisa Investment Advisors LLC now owns 6,367 shares of the company’s stock valued at $41,000 after acquiring an additional 5,232 shares during the period. Quarry LP increased its stake in Health Catalyst by 59.4% in the second quarter. Quarry LP now owns 7,002 shares of the company’s stock valued at $45,000 after purchasing an additional 2,610 shares in the last quarter. nVerses Capital LLC acquired a new stake in Health Catalyst in the third quarter worth $59,000. Perfromance Wealth Partners LLC bought a new position in shares of Health Catalyst during the second quarter worth $64,000. Finally, Mackenzie Financial Corp acquired a new position in shares of Health Catalyst in the 2nd quarter valued at $70,000. Institutional investors and hedge funds own 85.00% of the company’s stock.

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.