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

Key Points

• Canaccord Genuity Group raised its price target on Health Catalyst (NASDAQ: HCAT) from $2.00 to $3.00 and kept a buy rating, implying about 38.9% upside from the prior close.
• Analyst views remain mixed overall: the stock currently has a consensus Hold rating, with four Buy ratings, eight Hold ratings, and one Sell rating, and an average target price of $2.93.
• Health Catalyst recently beat quarterly EPS and revenue expectations, reporting $0.02 EPS versus $0.01 expected and $70.76 million in revenue, while the stock opened at $2.16 amid ongoing pressure from weak profitability metrics.

Health Catalyst (NASDAQ:HCAT - Get Free Report) had its price target raised by investment analysts at Canaccord Genuity Group from $2.00 to $3.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Canaccord Genuity Group's price objective points to a potential upside of 38.89% from the stock's previous close.

HCAT has been the topic of a number of other reports. 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. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Health Catalyst in a research note on Monday, May 11th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Health Catalyst in a report on Wednesday, June 24th. Finally, Wells Fargo & Company boosted their price objective on shares of Health Catalyst from $1.00 to $1.75 and gave the stock an "equal weight" rating in a research note on Friday, June 26th. Four analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $2.93.

Health Catalyst Price Performance

Health Catalyst stock opened at $2.16 on Tuesday. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 1.10. The company has a market capitalization of $159.60 million, a PE ratio of -0.58 and a beta of 1.56. Health Catalyst has a 12 month low of $0.96 and a 12 month high of $4.11. The stock has a 50-day moving average price of $1.75 and a two-hundred day moving average price of $1.73.

Health Catalyst (NASDAQ:HCAT - Get Free Report) last announced its quarterly earnings results on Monday, May 11th. The company reported $0.02 EPS for the quarter, beating 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 firm had revenue of $70.76 million for the quarter, compared to analyst estimates of $69.24 million. Analysts expect that Health Catalyst will post -0.25 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in shares of Health Catalyst by 816.8% in the 1st quarter. AQR Capital Management LLC now owns 168,344 shares of the company's stock valued at $763,000 after purchasing an additional 149,981 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Health Catalyst by 7.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,047 shares of the company's stock worth $163,000 after buying an additional 2,624 shares during the last quarter. Focus Partners Wealth acquired a new position in Health Catalyst in the first quarter valued at $46,000. Geode Capital Management LLC lifted its holdings in Health Catalyst by 11.4% in the second quarter. Geode Capital Management LLC now owns 1,662,455 shares of the company's stock valued at $6,269,000 after buying an additional 169,580 shares during the period. Finally, Rhumbline Advisers boosted its position in Health Catalyst by 13.5% during the second quarter. Rhumbline Advisers now owns 101,986 shares of the company's stock valued at $384,000 after acquiring an additional 12,127 shares during the last quarter. Institutional investors 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.

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