Health Catalyst, Inc. (NASDAQ:HCAT) Sees Large Decline in Short Interest

Health Catalyst, Inc. (NASDAQ:HCAT) saw a large drop in short interest in November. As of November 15th, there was short interest totalling 2,530,000 shares, a drop of 10.9% from the October 31st total of 2,840,000 shares. Based on an average daily trading volume, of 485,300 shares, the days-to-cover ratio is currently 5.2 days.

Wall Street Analyst Weigh In

Several research firms have weighed in on HCAT. Royal Bank of Canada raised their price target on Health Catalyst from $8.00 to $9.00 and gave the company a “sector perform” rating in a report on Thursday, November 7th. Piper Sandler reissued an “overweight” rating and set a $12.00 price objective (up from $11.00) on shares of Health Catalyst in a research note on Tuesday, November 26th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $16.00 target price on shares of Health Catalyst in a report on Friday, October 4th. Evercore ISI boosted 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. Finally, Citigroup lifted their price objective on shares of Health Catalyst from $9.00 to $10.50 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.79.

Insiders Place Their Bets

In other news, COO Daniel Lesueur sold 8,137 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $7.58, for a total transaction of $61,678.46. Following the completion of the transaction, the chief operating officer now directly owns 140,108 shares of the company’s stock, valued at $1,062,018.64. The trade was a 5.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kevin Lee Freeman sold 7,500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $8.94, for a total value of $67,050.00. Following the completion of the transaction, the insider now directly owns 236,950 shares in the company, valued at $2,118,333. The trade was a 3.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,068 shares of company stock valued at $270,455. 2.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Health Catalyst

A number of large investors have recently made changes to their positions in HCAT. Franklin Resources Inc. grew its stake in Health Catalyst by 5.8% during the 3rd quarter. Franklin Resources Inc. now owns 104,141 shares of the company’s stock worth $857,000 after buying an additional 5,687 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Health Catalyst by 4.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,443,036 shares of the company’s stock valued at $11,749,000 after purchasing an additional 66,896 shares in the last quarter. Zacks Investment Management raised its holdings in Health Catalyst by 6.7% in the 3rd quarter. Zacks Investment Management now owns 296,121 shares of the company’s stock worth $2,410,000 after purchasing an additional 18,677 shares during the period. State Street Corp increased its position in shares of Health Catalyst by 2.5% in the third quarter. State Street Corp now owns 1,163,754 shares of the company’s stock valued at $9,473,000 after buying an additional 28,251 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new position in shares of Health Catalyst during the 3rd quarter valued at approximately $84,000. 85.00% of the stock is owned by institutional investors and hedge funds.

Health Catalyst Stock Down 12.0 %

NASDAQ:HCAT traded down $1.08 during trading hours on Tuesday, reaching $7.94. The company’s stock had a trading volume of 669,930 shares, compared to its average volume of 560,721. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market capitalization of $483.15 million, a P/E ratio of -5.99 and a beta of 1.31. The stock has a 50 day moving average price of $8.12 and a two-hundred day moving average price of $7.33. Health Catalyst has a 12 month low of $5.42 and a 12 month high of $11.41.

Health Catalyst (NASDAQ:HCAT) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the business earned ($0.22) EPS. Health Catalyst’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities analysts predict that Health Catalyst will post -0.33 EPS for the current fiscal year.

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.