Health Catalyst (NASDAQ:HCAT) Rating Increased to Buy at Zacks Investment Research

Health Catalyst (NASDAQ:HCATGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The brokerage currently has a $19.00 price target on the stock. Zacks Investment Research‘s price objective would suggest a potential upside of 17.79% from the stock’s current price.

According to Zacks, “Health Catalyst Inc. is a provider of data and analytics technology and services to healthcare organizations. Health Catalyst Inc. is based in Salt Lake City, Utah. “

Other research analysts also recently issued research reports about the stock. Guggenheim began coverage on shares of Health Catalyst in a research report on Wednesday, April 13th. They set a “buy” rating and a $39.00 target price on the stock. Canaccord Genuity Group dropped their target price on shares of Health Catalyst from $62.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, March 2nd. Raymond James dropped their target price on shares of Health Catalyst from $70.00 to $40.00 and set a “strong-buy” rating on the stock in a research report on Friday, March 4th. SVB Leerink lowered their price objective on shares of Health Catalyst from $64.00 to $48.00 and set an “outperform” rating on the stock in a report on Wednesday, March 2nd. Finally, Jefferies Financial Group upgraded shares of Health Catalyst from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $31.00 to $28.00 in a report on Thursday, March 17th. Twelve research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $42.43.

NASDAQ:HCAT opened at $16.13 on Wednesday. The firm’s fifty day moving average is $23.75 and its 200-day moving average is $33.74. The company has a debt-to-equity ratio of 0.35, a quick ratio of 5.46 and a current ratio of 5.46. Health Catalyst has a 52 week low of $15.84 and a 52 week high of $59.50. The firm has a market cap of $870.00 million, a P/E ratio of -5.02 and a beta of 1.18.

Health Catalyst (NASDAQ:HCATGet Rating) last released its earnings results on Tuesday, March 1st. The company reported ($0.50) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.57) by $0.07. Health Catalyst had a negative net margin of 63.33% and a negative return on equity of 21.30%. The company had revenue of $64.72 million for the quarter, compared to the consensus estimate of $63.17 million. During the same quarter in the previous year, the company earned ($0.41) EPS. Health Catalyst’s quarterly revenue was up 21.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Health Catalyst will post -1.8 earnings per share for the current year.

In other Health Catalyst news, insider Linda Llewelyn sold 2,039 shares of the stock in a transaction dated Tuesday, March 15th. The shares were sold at an average price of $21.08, for a total transaction of $42,982.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Daniel H. Orenstein sold 4,112 shares of the stock in a transaction dated Thursday, March 3rd. The stock was sold at an average price of $26.82, for a total transaction of $110,283.84. The disclosure for this sale can be found here. Insiders have sold 48,036 shares of company stock valued at $1,247,804 in the last quarter. Company insiders own 2.00% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Rock Springs Capital Management LP lifted its holdings in shares of Health Catalyst by 8.3% in the third quarter. Rock Springs Capital Management LP now owns 850,000 shares of the company’s stock worth $42,509,000 after buying an additional 65,000 shares in the last quarter. Credit Suisse AG lifted its holdings in shares of Health Catalyst by 23.9% in the third quarter. Credit Suisse AG now owns 288,925 shares of the company’s stock worth $14,448,000 after buying an additional 55,642 shares in the last quarter. Summit Global Investments purchased a new stake in shares of Health Catalyst in the third quarter worth about $290,000. New York State Common Retirement Fund lifted its holdings in shares of Health Catalyst by 67.8% in the fourth quarter. New York State Common Retirement Fund now owns 58,440 shares of the company’s stock worth $2,315,000 after buying an additional 23,606 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in Health Catalyst by 25.6% in the third quarter. Teacher Retirement System of Texas now owns 6,037 shares of the company’s stock valued at $302,000 after purchasing an additional 1,231 shares in the last quarter. 97.53% of the stock is currently owned by hedge funds and other institutional investors.

About Health Catalyst (Get Rating)

Health Catalyst, Inc provides data and analytics technology and services to healthcare organizations. Its solutions include a cloud-based data platform, analytics software, and professional services. The company was formerly known as HQC Holdings, Inc and changed its name to Health Catalyst, Inc in March 2017.

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