BlackRock Inc. Invests $3.65 Million in Health Catalyst, Inc. $HCAT

Key Points

• BlackRock acquired 1.84 million Health Catalyst shares worth approximately $3.65 million, giving it about a 2.49% stake. Institutional investors collectively own roughly 85% of HCAT.
• Analysts remain cautious, with a consensus “Hold” rating and a $2.45 price target. Several firms recently lowered their targets, including Wells Fargo to $1.50 and Canaccord Genuity to $1.80.
• Health Catalyst reported quarterly revenue of $70.49 million and EPS of $0.04, exceeding estimates, but continues to post significant losses, including a negative net margin of 90.61%. Shares recently opened at $1.69, within a 52-week range of $0.96 to $3.62.

BlackRock Inc. bought a new stake in Health Catalyst, Inc. (NASDAQ:HCAT - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,836,373 shares of the company's stock, valued at approximately $3,654,000. BlackRock Inc. owned about 2.49% of Health Catalyst at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HCAT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Health Catalyst by 7.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,047 shares of the company's stock worth $163,000 after purchasing an additional 2,624 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Health Catalyst by 19.6% during the second quarter. The Manufacturers Life Insurance Company now owns 26,491 shares of the company's stock valued at $100,000 after purchasing an additional 4,341 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Health Catalyst by 71.7% in the third quarter. BNP Paribas Financial Markets now owns 16,355 shares of the company's stock worth $47,000 after purchasing an additional 6,832 shares during the last quarter. Invesco Ltd. increased its stake in shares of Health Catalyst by 6.5% in the fourth quarter. Invesco Ltd. now owns 118,591 shares of the company's stock worth $283,000 after buying an additional 7,186 shares during the period. Finally, Williams & Novak LLC raised its holdings in Health Catalyst by 47.2% during the 4th quarter. Williams & Novak LLC now owns 30,235 shares of the company's stock valued at $72,000 after buying an additional 9,700 shares during the last quarter. 85.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on HCAT shares. Canaccord Genuity Group reissued a "hold" rating and issued a $1.80 target price (down from $3.00) on shares of Health Catalyst in a research note on Thursday, August 20th. Stephens lowered their price target on Health Catalyst from $2.00 to $1.75 and set an "equal weight" rating for the company in a research report on Tuesday, May 12th. Citigroup dropped their price objective on Health Catalyst from $2.50 to $2.00 and set a "neutral" rating for the company in a report on Tuesday, August 11th. Weiss Ratings upgraded Health Catalyst from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, July 28th. Finally, Wells Fargo & Company reduced their target price on Health Catalyst from $1.75 to $1.50 and set an "equal weight" rating on the stock in a research note on Thursday, August 13th. Three equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $2.45.

Health Catalyst Price Performance

Shares of NASDAQ HCAT opened at $1.69 on Friday. Health Catalyst, Inc. has a 1 year low of $0.96 and a 1 year high of $3.62. The stock has a market capitalization of $127.19 million, a P/E ratio of -0.46 and a beta of 1.53. The company's 50-day moving average is $1.97 and its 200 day moving average is $1.64. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.70 and a quick ratio of 2.70.

Health Catalyst (NASDAQ:HCAT - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.03 by $0.01. The business had revenue of $70.49 million during the quarter, compared to analyst estimates of $69.09 million. Health Catalyst had a negative net margin of 90.61% and a negative return on equity of 1.83%. On average, sell-side analysts expect that Health Catalyst, Inc. will post -0.18 earnings per share for the current year.

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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