Palogic Value Management L.P. Makes New Investment in Health Catalyst, Inc. $HCAT

Key Points

• Palogic Value Management bought 4.92 million Health Catalyst shares worth approximately $9.8 million, giving it a 6.54% stake and making HCAT its fifth-largest portfolio holding.
• Institutional ownership remains high at 85%, with several hedge funds—including First Light Asset Management and Millennium Management—also increasing their positions.
• Analyst sentiment is cautious, with an overall “Hold” rating and an average price target of $2.71. Health Catalyst recently beat quarterly revenue and EPS estimates but remains unprofitable, with analysts forecasting a full-year loss.

Palogic Value Management L.P. purchased a new stake in Health Catalyst, Inc. (NASDAQ:HCAT - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,922,442 shares of the company's stock, valued at approximately $9,796,000. Health Catalyst comprises 3.2% of Palogic Value Management L.P.'s investment portfolio, making the stock its 5th biggest position. Palogic Value Management L.P. owned approximately 6.54% of Health Catalyst at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. purchased a new stake in Health Catalyst in the 2nd quarter valued at approximately $3,654,000. First Light Asset Management LLC increased its position in Health Catalyst by 17.2% during the 2nd quarter. First Light Asset Management LLC now owns 12,230,181 shares of the company's stock worth $46,108,000 after purchasing an additional 1,793,374 shares in the last quarter. Millennium Management LLC increased its position in Health Catalyst by 2,513.3% during the 3rd quarter. Millennium Management LLC now owns 1,589,536 shares of the company's stock worth $4,530,000 after purchasing an additional 1,528,710 shares in the last quarter. RA Capital Management L.P. acquired a new position in Health Catalyst in the 4th quarter valued at about $1,897,000. Finally, HighMark Wealth Management LLC lifted its holdings in Health Catalyst by 139.0% in the 4th quarter. HighMark Wealth Management LLC now owns 741,482 shares of the company's stock valued at $1,772,000 after purchasing an additional 431,200 shares in the last quarter. 85.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on HCAT shares. Wells Fargo & Company cut their price objective on shares of Health Catalyst from $1.75 to $1.50 and set an "equal weight" rating for the company in a research report on Thursday, August 13th. Weiss Ratings raised Health Catalyst from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, July 28th. Citigroup reduced their target price on Health Catalyst from $2.50 to $2.00 and set a "neutral" rating on the stock in a research report on Tuesday, August 11th. Canaccord Genuity Group restated a "hold" rating and issued a $1.80 price target (down from $3.00) on shares of Health Catalyst in a report on Thursday, August 20th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Health Catalyst in a research note on Monday, May 11th. Three research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $2.71.

Health Catalyst Trading Up 0.6%

Shares of HCAT stock opened at $1.59 on Thursday. The stock has a market cap of $119.66 million, a price-to-earnings ratio of -0.43 and a beta of 1.55. The company has a quick ratio of 2.70, a current ratio of 2.70 and a debt-to-equity ratio of 1.51. Health Catalyst, Inc. has a fifty-two week low of $0.96 and a fifty-two week high of $3.80. The firm's 50 day moving average price is $1.98 and its two-hundred day moving average price is $1.66.

Health Catalyst (NASDAQ:HCAT - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $0.04 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.01. Health Catalyst had a negative net margin of 90.61% and a negative return on equity of 1.83%. The business had revenue of $70.49 million for the quarter, compared to the consensus estimate of $69.09 million. On average, analysts anticipate that Health Catalyst, Inc. will post -0.22 EPS for the current year.

Health Catalyst Profile

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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