Health Catalyst (NASDAQ:HCAT) Earns Buy Rating from Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Health Catalyst (NASDAQ:HCAT) in a research report released on Tuesday, Benzinga reports. Canaccord Genuity Group currently has a $11.00 target price on the stock.

Other equities analysts also recently issued research reports about the company. Cantor Fitzgerald reissued an overweight rating and set a $16.00 price target on shares of Health Catalyst in a research report on Wednesday, April 10th. Piper Sandler reissued an overweight rating and set a $15.00 price target (down previously from $17.00) on shares of Health Catalyst in a research report on Friday, February 23rd. Guggenheim raised Health Catalyst from a neutral rating to a buy rating and set a $14.00 price target for the company in a research report on Friday, January 26th. Wells Fargo & Company dropped their price target on Health Catalyst from $14.00 to $13.00 and set an overweight rating for the company in a research report on Friday, May 10th. Finally, KeyCorp restated a sector weight rating on shares of Health Catalyst in a report on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Health Catalyst has a consensus rating of Moderate Buy and a consensus price target of $12.18.

Health Catalyst Price Performance

NASDAQ HCAT opened at $6.65 on Tuesday. Health Catalyst has a 1-year low of $5.45 and a 1-year high of $14.37. The company has a market capitalization of $392.55 million, a P/E ratio of -3.59 and a beta of 1.32. The business has a 50 day moving average price of $6.70 and a 200 day moving average price of $8.10.

Health Catalyst (NASDAQ:HCAT) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.21) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.06. The company had revenue of $75.08 million during the quarter, compared to the consensus estimate of $73.67 million. Health Catalyst had a negative return on equity of 11.86% and a negative net margin of 35.56%. On average, research analysts expect that Health Catalyst will post -0.47 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Health Catalyst by 1.2% in the third quarter. Vanguard Group Inc. now owns 6,441,707 shares of the company’s stock valued at $65,190,000 after acquiring an additional 78,823 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in Health Catalyst by 52.0% in the fourth quarter. Impax Asset Management Group plc now owns 1,754,475 shares of the company’s stock valued at $16,246,000 after acquiring an additional 600,000 shares during the last quarter. Primecap Management Co. CA boosted its holdings in Health Catalyst by 26.7% in the fourth quarter. Primecap Management Co. CA now owns 1,419,577 shares of the company’s stock valued at $13,145,000 after acquiring an additional 299,139 shares during the last quarter. Kennedy Capital Management LLC acquired a new position in Health Catalyst in the first quarter valued at $8,780,000. Finally, Nepsis Inc. boosted its holdings in Health Catalyst by 6.0% in the first quarter. Nepsis Inc. now owns 1,157,394 shares of the company’s stock valued at $8,715,000 after acquiring an additional 65,462 shares during the last quarter. 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.