Royal Bank of Canada Forecasts Strong Price Appreciation for Health Catalyst (NASDAQ:HCAT) Stock

Health Catalyst (NASDAQ:HCAT) had its price target raised by research analysts at Royal Bank of Canada from $8.00 to $9.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 3.33% from the company’s previous close.

Several other analysts also recently issued reports on HCAT. Stephens dropped their price target on Health Catalyst from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 8th. Evercore ISI lifted their target price 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 set a $16.00 price target on shares of Health Catalyst in a research report on Friday, October 4th. JPMorgan Chase & Co. raised 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. Finally, Piper Sandler cut their price objective 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. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Health Catalyst currently has a consensus rating of “Moderate Buy” and an average target price of $11.64.

Health Catalyst Stock Performance

HCAT stock traded up $0.46 during mid-day trading on Thursday, hitting $8.71. 341,207 shares of the company were exchanged, compared to its average volume of 560,446. Health Catalyst has a 1-year low of $5.42 and a 1-year high of $11.41. The firm’s 50 day simple moving average is $8.01 and its 200 day simple moving average is $7.11. The firm has a market cap of $526.69 million, a P/E ratio of -5.81 and a beta of 1.32.

Health Catalyst (NASDAQ:HCAT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.04. The business had revenue of $75.90 million for the quarter, compared to analyst estimates of $74.96 million. Health Catalyst had a negative net margin of 28.87% and a negative return on equity of 9.38%. The firm’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period last year, the business posted ($0.21) earnings per share. On average, equities research analysts predict that Health Catalyst will post -0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In related 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 completion of the sale, the insider now directly owns 255,881 shares in the company, 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 SEC, which is accessible through the SEC website. In other Health Catalyst news, COO Daniel Lesueur sold 8,137 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $7.58, for a total value of $61,678.46. Following the transaction, the chief operating officer now directly owns 140,108 shares in the company, valued at $1,062,018.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kevin Lee Freeman sold 7,500 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $7.22, for a total transaction of $54,150.00. Following the sale, the insider now owns 255,881 shares of the company’s stock, valued at approximately $1,847,460.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 30,187 shares of company stock valued at $226,171. 2.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Health Catalyst

A number of institutional investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC increased its stake in shares of Health Catalyst by 461.0% during the second quarter. Nisa Investment Advisors LLC now owns 6,367 shares of the company’s stock worth $41,000 after purchasing an additional 5,232 shares during the period. Quarry LP boosted its stake in Health Catalyst by 59.4% in the 2nd quarter. Quarry LP now owns 7,002 shares of the company’s stock valued at $45,000 after purchasing an additional 2,610 shares during the period. nVerses Capital LLC acquired a new position in Health Catalyst in the 3rd quarter valued at $59,000. Perfromance Wealth Partners LLC bought a new position in Health Catalyst during the 2nd quarter worth $64,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Health Catalyst during the second quarter worth $70,000. Institutional investors own 85.00% of the company’s stock.

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.