Piper Sandler Issues Pessimistic Forecast for Health Catalyst (NASDAQ:HCAT) Stock Price

Health Catalyst (NASDAQ:HCAT) had its price target lowered by equities researchers at Piper Sandler from $12.00 to $8.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price points to a potential upside of 47.06% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. Canaccord Genuity Group lowered their price target on shares of Health Catalyst from $11.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Stephens raised their price objective on Health Catalyst from $7.00 to $9.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Wells Fargo & Company cut their target price on Health Catalyst from $13.00 to $10.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 21st. Citigroup decreased their price target on Health Catalyst from $10.50 to $10.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Royal Bank of Canada dropped their price objective on shares of Health Catalyst from $9.00 to $7.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Health Catalyst has a consensus rating of “Moderate Buy” and a consensus target price of $10.20.

Health Catalyst Price Performance

HCAT stock opened at $5.44 on Tuesday. Health Catalyst has a 52 week low of $5.32 and a 52 week high of $10.14. The firm has a market capitalization of $331.02 million, a P/E ratio of -4.03 and a beta of 1.34. The company has a fifty day simple moving average of $6.69 and a two-hundred day simple moving average of $7.38. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.32.

Insiders Place Their Bets

In related news, COO Daniel Lesueur sold 5,209 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $5.76, for a total value of $30,003.84. Following the transaction, the chief operating officer now owns 86,044 shares of the company’s stock, valued at $495,613.44. This trade represents a 5.71 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Kevin Lee Freeman sold 7,500 shares of Health Catalyst stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $8.94, for a total transaction of $67,050.00. Following the sale, the insider now owns 236,950 shares of the company’s stock, valued at $2,118,333. The trade was a 3.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 81,169 shares of company stock worth $629,068 over the last quarter. Company insiders own 2.50% of the company’s stock.

Institutional Trading of Health Catalyst

A number of large investors have recently modified their holdings of the company. Impax Asset Management Group plc raised its position in Health Catalyst by 7.7% during 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 purchasing an additional 195,525 shares in the last quarter. Primecap Management Co. CA increased its stake in shares of Health Catalyst by 1.1% during the third quarter. Primecap Management Co. CA now owns 2,404,462 shares of the company’s stock valued at $19,572,000 after buying an additional 25,000 shares during the period. Nepsis Inc. raised 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 valued at $17,131,000 after acquiring an additional 851,448 shares in the last quarter. Geode Capital Management LLC lifted its stake in Health Catalyst by 4.9% in the third quarter. Geode Capital Management LLC now owns 1,443,036 shares of the company’s stock worth $11,749,000 after acquiring an additional 66,896 shares during the period. Finally, State Street Corp grew its holdings in 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 acquiring an additional 28,251 shares in the last quarter. Hedge funds and other institutional investors own 85.00% of the company’s stock.

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.