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

Health Catalyst (NASDAQ:HCAT) had its price objective lowered by Royal Bank of Canada from $9.00 to $7.00 in a research note published on Wednesday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other brokerages also recently issued reports on HCAT. Stephens raised their price target on Health Catalyst from $7.00 to $9.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. KeyCorp raised Health Catalyst from a “sector weight” rating to an “overweight” rating and set a $9.00 price target on the stock in a research report on Wednesday, January 8th. Evercore ISI raised their price target on Health Catalyst from $8.00 to $10.00 and gave the company an “outperform” rating in a research report on Tuesday, October 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $16.00 price target on shares of Health Catalyst in a research report on Friday, October 4th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $12.00 price target (up from $11.00) on shares of Health Catalyst in a research report on Tuesday, November 26th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Health Catalyst currently has an average rating of “Moderate Buy” and an average price target of $11.27.

Health Catalyst Price Performance

NASDAQ HCAT opened at $5.76 on Wednesday. Health Catalyst has a fifty-two week low of $5.42 and a fifty-two week high of $11.06. The stock’s 50-day moving average is $7.73 and its two-hundred day moving average is $7.54. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.41 and a current ratio of 1.41.

Health Catalyst (NASDAQ:HCAT) last posted its 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). Health Catalyst had a negative net margin of 26.20% and a negative return on equity of 7.51%. The company had revenue of $76.40 million for the quarter, compared to the consensus estimate of $76.27 million. During the same quarter last year, the business earned ($0.22) earnings per share. Health Catalyst’s quarterly revenue was up 3.5% on a year-over-year basis. Equities research analysts anticipate that Health Catalyst will post -0.33 EPS for the current year.

Insider Buying and Selling at Health Catalyst

In other Health Catalyst news, CFO Jason Alger sold 19,599 shares of Health Catalyst stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $8.32, for a total transaction of $163,063.68. Following the sale, the chief financial officer now directly owns 86,712 shares of the company’s stock, valued at approximately $721,443.84. The trade was a 18.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kevin Lee Freeman sold 7,500 shares of Health Catalyst stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $8.94, for a total transaction of $67,050.00. Following the completion of the transaction, the insider now owns 236,950 shares of the company’s stock, valued at $2,118,333. This trade represents a 3.07 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 74,727 shares of company stock valued at $601,810. 2.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of HCAT. Rhumbline Advisers raised its stake in shares of Health Catalyst by 9.1% in the second quarter. Rhumbline Advisers now owns 91,111 shares of the company’s stock valued at $582,000 after acquiring an additional 7,589 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Health Catalyst by 1.4% in the second quarter. American Century Companies Inc. now owns 683,464 shares of the company’s stock valued at $4,367,000 after acquiring an additional 9,466 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Health Catalyst by 17.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 331,847 shares of the company’s stock valued at $2,121,000 after acquiring an additional 50,297 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Health Catalyst by 14.7% in the second quarter. Primecap Management Co. CA now owns 2,379,462 shares of the company’s stock valued at $15,205,000 after acquiring an additional 305,079 shares during the last quarter. Finally, Hsbc Holdings PLC raised its position in Health Catalyst by 35.9% in the 2nd quarter. Hsbc Holdings PLC now owns 78,327 shares of the company’s stock worth $479,000 after purchasing an additional 20,672 shares during the last quarter. Institutional investors 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.