Canaccord Genuity Group Boosts Health Catalyst (NASDAQ:HCAT) Price Target to $3.00

Health Catalyst (NASDAQ:HCAT) had its target price raised by Canaccord Genuity Group from $2.00 to $3.00 in a research note issued to investors on Tuesday, MarketBeat.com reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target suggests a potential upside of 47.06% from the stock’s previous close.

A number of other equities research analysts have also weighed in on the stock. Stephens reduced their target price on shares of Health Catalyst from $2.00 to $1.75 and set an “equal weight” rating on the stock in a report on Tuesday, May 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of Health Catalyst in a research note on Wednesday, June 24th. Wells Fargo & Company lifted their target price on Health Catalyst from $1.00 to $1.75 and gave the stock an “equal weight” rating in a report on Friday, June 26th. Finally, Cantor Fitzgerald reissued a “neutral” rating on shares of Health Catalyst in a research note on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $2.93.

Health Catalyst Stock Down 2.9%

Shares of NASDAQ:HCAT opened at $2.04 on Tuesday. Health Catalyst has a 52-week low of $0.96 and a 52-week high of $4.11. The company has a market capitalization of $150.74 million, a PE ratio of -0.55 and a beta of 1.56. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.69 and a current ratio of 1.69. The company has a fifty day moving average of $1.78 and a 200-day moving average of $1.72.

Health Catalyst (NASDAQ:HCAT) last issued its earnings results on Monday, May 11th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. Health Catalyst had a negative return on equity of 3.52% and a negative net margin of 87.69%.The business had revenue of $70.76 million during the quarter, compared to analysts’ expectations of $69.24 million. On average, equities analysts predict that Health Catalyst will post -0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Health Catalyst

Several large investors have recently added to or reduced their stakes in HCAT. First Light Asset Management LLC increased its stake in shares of Health Catalyst by 17.2% in the 2nd quarter. First Light Asset Management LLC now owns 12,230,181 shares of the company’s stock valued at $46,108,000 after acquiring an additional 1,793,374 shares in the last quarter. Millennium Management LLC increased its stake in Health Catalyst by 2,513.3% in the third quarter. Millennium Management LLC now owns 1,589,536 shares of the company’s stock valued at $4,530,000 after purchasing an additional 1,528,710 shares in the last quarter. RA Capital Management L.P. acquired a new position in shares of Health Catalyst during the fourth quarter valued at about $1,897,000. HighMark Wealth Management LLC raised its holdings in shares of Health Catalyst by 139.0% during the fourth quarter. HighMark Wealth Management LLC now owns 741,482 shares of the company’s stock valued at $1,772,000 after purchasing an additional 431,200 shares during the period. Finally, Nepsis Inc. boosted its position in shares of Health Catalyst by 26.6% during the 4th quarter. Nepsis Inc. now owns 1,915,794 shares of the company’s stock worth $4,579,000 after purchasing an additional 402,762 shares in the last quarter. Institutional investors and hedge funds own 85.00% of the company’s stock.

About Health Catalyst

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.