Citigroup Cuts Health Catalyst (NASDAQ:HCAT) Price Target to $6.50

Health Catalyst (NASDAQ:HCAT) had its target price cut by Citigroup from $7.00 to $6.50 in a research report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

HCAT has been the topic of a number of other research reports. Wells Fargo & Company cut their price target on Health Catalyst from $13.00 to $10.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 21st. Stephens reduced their target price on Health Catalyst from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Thursday, March 6th. Stifel Nicolaus lowered their price target on Health Catalyst from $10.00 to $5.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Piper Sandler reduced their price objective on shares of Health Catalyst from $12.00 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Finally, Canaccord Genuity Group lowered their target price on shares of Health Catalyst from $11.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Health Catalyst presently has an average rating of “Moderate Buy” and a consensus target price of $8.05.

Health Catalyst Stock Up 3.0 %

Shares of NASDAQ:HCAT opened at $4.10 on Friday. The company has a 50 day moving average of $4.30 and a 200-day moving average of $6.21. Health Catalyst has a one year low of $3.56 and a one year high of $9.24. The stock has a market cap of $287.87 million, a price-to-earnings ratio of -3.04 and a beta of 1.43. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.41 and a quick ratio of 1.41.

Insider Buying and Selling

In other news, General Counsel Benjamin Landry sold 13,827 shares of Health Catalyst stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $4.55, for a total value of $62,912.85. Following the sale, the general counsel now directly owns 160,437 shares in the company, valued at $729,988.35. This trade represents a 7.93 % 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, COO Daniel Lesueur sold 5,209 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $5.76, for a total transaction of $30,003.84. Following the completion of the sale, the chief operating officer now directly owns 86,044 shares in the company, valued at approximately $495,613.44. This represents a 5.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,588 shares of company stock worth $225,906 over the last ninety days. Company insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On Health Catalyst

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Impax Asset Management Group plc grew its holdings in shares of Health Catalyst by 7.7% in the 4th quarter. Impax Asset Management Group plc now owns 2,750,000 shares of the company’s stock valued at $19,442,000 after acquiring an additional 195,525 shares in the last quarter. Geode Capital Management LLC boosted its position in Health Catalyst by 4.9% during the third 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 during the last quarter. Raymond James Financial Inc. bought a new position in Health Catalyst in the fourth quarter valued at approximately $2,044,000. State Street Corp increased its position in shares of Health Catalyst by 2.5% during the 3rd quarter. State Street Corp now owns 1,163,754 shares of the company’s stock worth $9,473,000 after purchasing an additional 28,251 shares during the last quarter. Finally, Intech Investment Management LLC raised its stake in shares of Health Catalyst by 59.7% during the 4th quarter. Intech Investment Management LLC now owns 28,386 shares of the company’s stock worth $201,000 after purchasing an additional 10,611 shares in the last quarter. 85.00% of the stock is currently owned by institutional investors and hedge funds.

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.