Nuveen LLC Makes New Investment in Health Catalyst, Inc. $HCAT

Key Points

• Nuveen LLC has acquired a new stake in Health Catalyst, Inc. valued at approximately $2.67 million, owning 0.84% of the company following the purchase of 590,377 shares.
• Institutional investors collectively own 85% of Health Catalyst, with several firms increasing their stakes recently, indicating significant institutional interest in the company.
• Analyst ratings for Health Catalyst have been downgraded by multiple brokerages, with current price targets ranging from $3.50 to $6.00, and an average rating of "Hold" with a target price of $5.82.

Nuveen LLC purchased a new position in Health Catalyst, Inc. (NASDAQ:HCAT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 590,377 shares of the company's stock, valued at approximately $2,674,000. Nuveen LLC owned about 0.84% of Health Catalyst as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Daventry Group LP lifted its stake in Health Catalyst by 3.8% in the fourth quarter. Daventry Group LP now owns 2,509,480 shares of the company's stock worth $17,742,000 after purchasing an additional 91,878 shares during the last quarter. Nepsis Inc. raised its stake in shares of Health Catalyst by 2,072.1% during the first quarter. Nepsis Inc. now owns 2,090,812 shares of the company's stock valued at $9,471,000 after acquiring an additional 1,994,555 shares during the last quarter. Alyeska Investment Group L.P. raised its stake in shares of Health Catalyst by 74.4% during the fourth quarter. Alyeska Investment Group L.P. now owns 2,019,380 shares of the company's stock valued at $14,277,000 after acquiring an additional 861,150 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of Health Catalyst by 3.8% during the first quarter. Primecap Management Co. CA now owns 2,005,116 shares of the company's stock valued at $9,083,000 after acquiring an additional 72,499 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Health Catalyst by 17.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,591,565 shares of the company's stock valued at $11,252,000 after acquiring an additional 235,686 shares during the last quarter. 85.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HCAT. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $4.00 price objective (down from $9.00) on shares of Health Catalyst in a research note on Friday, August 8th. Piper Sandler downgraded shares of Health Catalyst from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $8.00 to $4.00 in a research note on Wednesday, August 27th. Canaccord Genuity Group lowered their price objective on shares of Health Catalyst from $9.00 to $5.00 and set a "buy" rating for the company in a research note on Friday, August 29th. Wells Fargo & Company lowered their price objective on shares of Health Catalyst from $10.00 to $6.00 and set an "overweight" rating for the company in a research note on Monday, August 11th. Finally, Citigroup downgraded shares of Health Catalyst from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $6.50 to $3.50 in a research note on Friday, August 8th. Four research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Health Catalyst has a consensus rating of "Hold" and a consensus price target of $5.42.

Health Catalyst Trading Down 4.7%

HCAT stock traded down $0.16 during trading on Wednesday, reaching $3.24. The company had a trading volume of 1,065,747 shares, compared to its average volume of 1,085,230. Health Catalyst, Inc. has a 52 week low of $2.52 and a 52 week high of $9.24. The company has a market cap of $228.01 million, a P/E ratio of -2.15 and a beta of 1.53. The business has a 50 day moving average of $3.60 and a 200 day moving average of $3.97. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.83 and a quick ratio of 1.83.

Health Catalyst Profile

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.