KeyCorp Upgrades Health Catalyst (NASDAQ:HCAT) to Overweight

Health Catalyst (NASDAQ:HCAT) was upgraded by equities researchers at KeyCorp from a “sector weight” rating to an “overweight” rating in a report released on Wednesday, Marketbeat Ratings reports. The brokerage presently has a $9.00 target price on the stock. KeyCorp’s price objective points to a potential upside of 22.28% from the company’s current price.

Several other research analysts also recently issued reports on the company. Royal Bank of Canada upped their price objective on Health Catalyst from $8.00 to $9.00 and gave the company a “sector perform” rating in a research note on Thursday, November 7th. Stephens raised their price target on shares of Health Catalyst from $7.00 to $9.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Evercore ISI boosted their price objective on shares of Health Catalyst from $8.00 to $10.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 8th. Citigroup raised their target price on Health Catalyst from $9.00 to $10.50 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $12.00 price target (up previously 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 assigned a buy rating to the stock. According to data from MarketBeat.com, Health Catalyst has an average rating of “Moderate Buy” and an average price target of $11.50.

Health Catalyst Price Performance

HCAT stock opened at $7.36 on Wednesday. The stock has a market cap of $447.84 million, a price-to-earnings ratio of -5.45 and a beta of 1.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.41 and a quick ratio of 1.41. The company has a 50 day simple moving average of $7.81 and a 200 day simple moving average of $7.52. Health Catalyst has a 1 year low of $5.42 and a 1 year high of $11.41.

Health Catalyst (NASDAQ:HCAT) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.03). The firm had revenue of $76.40 million during the quarter, compared to the consensus estimate of $76.27 million. Health Catalyst had a negative net margin of 26.20% and a negative return on equity of 7.51%. The firm’s revenue was up 3.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.22) earnings per share. Research analysts anticipate that Health Catalyst will post -0.33 EPS for the current fiscal year.

Insider Activity

In related news, Director Duncan Gallagher sold 4,500 shares of Health Catalyst stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $6.98, for a total value of $31,410.00. Following the completion of the sale, the director now owns 74,438 shares of the company’s stock, valued at approximately $519,577.24. This trade represents a 5.70 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Jason Alger sold 19,599 shares of the company’s stock in a transaction 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 transaction, the chief financial officer now owns 86,712 shares in the company, valued at approximately $721,443.84. The trade was a 18.44 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 68,342 shares of company stock worth $554,695 in the last quarter. 2.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Health Catalyst

Several hedge funds and other institutional investors have recently made changes to their positions in HCAT. Primecap Management Co. CA increased its holdings in Health Catalyst by 14.7% during the 2nd quarter. Primecap Management Co. CA now owns 2,379,462 shares of the company’s stock worth $15,205,000 after purchasing an additional 305,079 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in Health Catalyst during the third quarter worth $897,000. Fred Alger Management LLC purchased a new stake in Health Catalyst in the 3rd quarter valued at $6,858,000. Millrace Asset Group Inc. purchased a new stake in Health Catalyst in the 3rd quarter valued at $1,568,000. Finally, Point72 Asset Management L.P. lifted its stake in Health Catalyst by 69.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 516,934 shares of the company’s stock valued at $4,208,000 after acquiring an additional 211,805 shares in the last quarter. 85.00% of the stock is owned by institutional investors.

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.