Millrace Asset Group Inc. Acquires Shares of 192,616 Health Catalyst, Inc. (NASDAQ:HCAT)

Millrace Asset Group Inc. bought a new position in shares of Health Catalyst, Inc. (NASDAQ:HCAT) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 192,616 shares of the company’s stock, valued at approximately $1,568,000. Health Catalyst makes up about 1.6% of Millrace Asset Group Inc.’s investment portfolio, making the stock its 28th biggest position.

A number of other hedge funds also recently modified their holdings of the stock. First Light Asset Management LLC lifted its position in shares of Health Catalyst by 438.5% during the 2nd quarter. First Light Asset Management LLC now owns 3,956,089 shares of the company’s stock worth $25,279,000 after buying an additional 3,221,408 shares during the last quarter. Millennium Management LLC raised its stake in Health Catalyst by 96.3% during the second quarter. Millennium Management LLC now owns 2,413,280 shares of the company’s stock worth $15,421,000 after acquiring an additional 1,184,131 shares in the last quarter. Nepsis Inc. lifted its holdings in shares of Health Catalyst by 67.9% in the third quarter. Nepsis Inc. now owns 2,104,528 shares of the company’s stock worth $17,131,000 after acquiring an additional 851,448 shares during the last quarter. Impax Asset Management Group plc boosted its stake in shares of Health Catalyst by 16.4% in the 3rd quarter. Impax Asset Management Group plc now owns 2,554,475 shares of the company’s stock valued at $20,793,000 after purchasing an additional 360,201 shares in the last quarter. Finally, Primecap Management Co. CA grew its holdings in shares of Health Catalyst by 14.7% during the 2nd quarter. Primecap Management Co. CA now owns 2,379,462 shares of the company’s stock valued at $15,205,000 after purchasing an additional 305,079 shares during the last quarter. Institutional investors own 85.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on HCAT. Royal Bank of Canada raised their target price on shares of Health Catalyst from $8.00 to $9.00 and gave the company a “sector perform” rating in a research report on Thursday, November 7th. Citigroup raised their price objective on Health Catalyst from $9.00 to $10.50 and gave the company a “buy” rating in a report on Wednesday, November 13th. Stephens upped their target price on Health Catalyst from $7.00 to $9.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. lifted their price target on Health Catalyst from $10.00 to $13.00 and gave the company an “overweight” rating in a research note on Wednesday, September 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $16.00 price objective on shares of Health Catalyst in a research note on Friday, October 4th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $11.79.

Health Catalyst Stock Performance

NASDAQ:HCAT opened at $8.52 on Tuesday. The company has a market capitalization of $518.44 million, a PE ratio of -6.31 and a beta of 1.32. Health Catalyst, Inc. has a fifty-two week low of $5.42 and a fifty-two week high of $11.41. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.41 and a current ratio of 1.41. The company has a 50 day simple moving average of $8.13 and a two-hundred day simple moving average of $7.28.

Health Catalyst (NASDAQ:HCAT) last released its earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.03). Health Catalyst had a negative net margin of 26.20% and a negative return on equity of 7.51%. The firm had revenue of $76.40 million during the quarter, compared to analyst estimates of $76.27 million. During the same quarter in the previous year, the firm earned ($0.22) EPS. Health Catalyst’s quarterly revenue was up 3.5% on a year-over-year basis. Research analysts anticipate that Health Catalyst, Inc. will post -0.35 earnings per share for the current year.

Insider Buying and Selling at Health Catalyst

In other Health Catalyst news, insider Kevin Lee Freeman sold 7,500 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $7.22, for a total value of $54,150.00. Following the completion of the sale, the insider now directly owns 255,881 shares in the company, valued at approximately $1,847,460.82. This trade represents a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Daniel Lesueur sold 8,137 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $7.58, for a total transaction of $61,678.46. Following the transaction, the chief operating officer now owns 140,108 shares in the company, valued at $1,062,018.64. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,068 shares of company stock valued at $257,555. 2.50% of the stock is currently owned by company insiders.

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.