Bank of New York Mellon Corp Cuts Position in Health Catalyst, Inc. (NASDAQ:HCAT)

Key Points

• The Bank of New York Mellon Corp significantly reduced its position in Health Catalyst, Inc. by 86.2% in Q1, selling over 1.2 million shares and holding 198,800 shares worth approximately $901,000.
• Health Catalyst has faced mixed analyst ratings, with five analysts rating it as a hold and seven assigning a buy rating, alongside a newly adjusted average price target of $8.00.
• The stock is currently trading around $3.52, with a 52-week range between $3.48 and $9.24, reflecting its volatility in the market.

Bank of New York Mellon Corp cut its holdings in Health Catalyst, Inc. (NASDAQ:HCAT - Free Report) by 86.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 198,800 shares of the company's stock after selling 1,238,206 shares during the period. Bank of New York Mellon Corp owned about 0.28% of Health Catalyst worth $901,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Group One Trading LLC grew its stake in Health Catalyst by 107.6% in the 4th quarter. Group One Trading LLC now owns 4,360 shares of the company's stock valued at $31,000 after purchasing an additional 2,260 shares during the period. Aquatic Capital Management LLC purchased a new position in shares of Health Catalyst in the 4th quarter worth about $63,000. Brevan Howard Capital Management LP bought a new position in Health Catalyst during the fourth quarter valued at about $92,000. OneAscent Financial Services LLC purchased a new stake in Health Catalyst during the fourth quarter worth about $97,000. Finally, ExodusPoint Capital Management LP purchased a new stake in Health Catalyst during the fourth quarter worth about $107,000. 85.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HCAT has been the subject of a number of research reports. BTIG Research downgraded shares of Health Catalyst from a "buy" rating to a "neutral" rating in a research report on Tuesday, June 17th. Stifel Nicolaus increased their price objective on Health Catalyst from $5.00 to $5.50 and gave the company a "hold" rating in a report on Thursday, May 8th. Evercore ISI decreased their target price on Health Catalyst from $5.00 to $4.00 and set an "in-line" rating for the company in a research report on Wednesday, July 9th. Canaccord Genuity Group dropped their price target on Health Catalyst from $10.00 to $9.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, KeyCorp cut their price target on Health Catalyst from $7.00 to $5.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Health Catalyst currently has an average rating of "Moderate Buy" and an average price target of $8.00.

Health Catalyst Stock Performance

Shares of HCAT opened at $3.52 on Friday. Health Catalyst, Inc. has a 52-week low of $3.48 and a 52-week high of $9.24. The stock's 50-day simple moving average is $3.86 and its 200 day simple moving average is $4.34. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $244.99 million, a price-to-earnings ratio of -3.06 and a beta of 1.46.

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.

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