Health Catalyst (NASDAQ:HCAT) Given New $4.00 Price Target at Evercore ISI

Key Points

• Health Catalyst's price target was raised from $3.00 to $4.00 by Evercore ISI, indicating a potential upside of 8.40% from its previous close.
• Multiple brokerages have recently revised their ratings and price objectives for Health Catalyst, with the average target price now at $5.82, reflecting a general consensus of a "Hold" rating.
• Institutional investors own 85.00% of Health Catalyst's stock, with several firms increasing their stakes in the second quarter.

Health Catalyst (NASDAQ:HCAT - Get Free Report) had its price objective upped by investment analysts at Evercore ISI from $3.00 to $4.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "in-line" rating on the stock. Evercore ISI's target price indicates a potential upside of 18.94% from the company's previous close.

A number of other equities analysts have also recently weighed in on HCAT. Wells Fargo & Company lowered their price target on shares of Health Catalyst from $10.00 to $6.00 and set an "overweight" rating on the stock in a research note on Monday, August 11th. Piper Sandler cut 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 $10.00 to $9.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Cantor Fitzgerald reissued a "neutral" rating and issued a $4.00 price objective (down from $9.00) on shares of Health Catalyst in a research note on Friday, August 8th. Finally, BTIG Research cut shares of Health Catalyst from a "buy" rating to a "neutral" rating in a research note on Tuesday, June 17th. Four equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $5.42.

Health Catalyst Price Performance

Shares of NASDAQ:HCAT traded down $0.03 on Thursday, reaching $3.36. 424,505 shares of the company were exchanged, compared to its average volume of 723,117. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.44. Health Catalyst has a 1-year low of $2.52 and a 1-year high of $9.24. The firm has a market cap of $236.65 million, a price-to-earnings ratio of -2.23 and a beta of 1.53. The company has a 50-day moving average of $3.62 and a 200-day moving average of $3.97.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its holdings in Health Catalyst by 195.2% in the 1st quarter. SG Americas Securities LLC now owns 80,825 shares of the company's stock valued at $366,000 after purchasing an additional 53,443 shares in the last quarter. BNP Paribas Financial Markets purchased a new position in Health Catalyst in the 4th quarter valued at about $735,000. Wells Fargo & Company MN lifted its holdings in Health Catalyst by 27.3% in the 4th quarter. Wells Fargo & Company MN now owns 39,355 shares of the company's stock valued at $278,000 after purchasing an additional 8,451 shares in the last quarter. Whetstone Capital Advisors LLC purchased a new position in Health Catalyst in the 1st quarter valued at about $7,724,000. Finally, Two Sigma Investments LP purchased a new position in shares of Health Catalyst during the 4th quarter worth about $496,000. 85.00% of the stock is currently owned by hedge funds and other institutional investors.

Health Catalyst Company 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.