Wells Fargo & Company Reiterates Equal Weight Rating for Health Catalyst (NASDAQ:HCAT)

Health Catalyst (NASDAQ:HCAT)‘s stock had its “equal weight” rating reissued by equities researchers at Wells Fargo & Company in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. They currently have a $1.00 target price on the stock, down from their prior target price of $5.00. Wells Fargo & Company‘s price target suggests a potential downside of 17.70% from the company’s current price.

Other equities analysts also recently issued reports about the company. Citigroup reduced their target price on Health Catalyst from $2.75 to $1.75 and set a “neutral” rating on the stock in a research report on Friday, March 13th. Weiss Ratings restated a “sell (e+)” rating on shares of Health Catalyst in a report on Monday, December 29th. Cantor Fitzgerald dropped their price objective on shares of Health Catalyst from $4.00 to $3.00 and set a “neutral” rating for the company in a research note on Friday, March 13th. Canaccord Genuity Group cut their price objective on shares of Health Catalyst from $5.00 to $2.00 and set a “buy” rating on the stock in a report on Friday, March 13th. Finally, Raymond James Financial set a $3.00 target price on shares of Health Catalyst in a research report on Friday, March 13th. Four research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $2.80.

Health Catalyst Stock Up 4.7%

Shares of NASDAQ HCAT opened at $1.22 on Wednesday. The firm has a market cap of $89.41 million, a P/E ratio of -0.48 and a beta of 1.76. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.89 and a current ratio of 1.89. Health Catalyst has a 1 year low of $1.04 and a 1 year high of $5.06. The firm’s 50 day moving average price is $1.95 and its 200 day moving average price is $2.50.

Health Catalyst (NASDAQ:HCAT) last issued its quarterly earnings results on Thursday, March 12th. The company reported $0.08 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.02). Health Catalyst had a negative net margin of 57.20% and a negative return on equity of 4.30%. The business had revenue of $74.68 million during the quarter, compared to analyst estimates of $73.99 million. As a group, sell-side analysts anticipate that Health Catalyst will post -0.33 earnings per share for the current year.

Institutional Investors Weigh In On Health Catalyst

Several institutional investors and hedge funds have recently added to or reduced their stakes in HCAT. nVerses Capital LLC purchased a new position in shares of Health Catalyst in the 4th quarter worth about $25,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Health Catalyst during the 3rd quarter worth about $39,000. Cresset Asset Management LLC acquired a new stake in Health Catalyst during the 2nd quarter worth approximately $39,000. FNY Investment Advisers LLC acquired a new stake in Health Catalyst during the 3rd quarter worth approximately $45,000. Finally, Focus Partners Wealth purchased a new position in Health Catalyst in the first quarter valued at approximately $46,000. 85.00% of the stock is currently owned by institutional investors and hedge funds.

Health Catalyst Company Profile

Health Catalyst (NASDAQ: HCAT) is a healthcare data and analytics technology company founded in 2008 and headquartered in Salt Lake City, Utah. The company went public in 2019 and has since focused on delivering a unified data platform that helps healthcare organizations aggregate and analyze clinical, financial and operational information.

The core of Health Catalyst’s offering is the Data Operating System (DOS), a modular data management platform that integrates disparate data sources—from electronic health records to claims and patient-generated data—into a single analytics environment.