Health Catalyst (NASDAQ:HCAT) Price Target Raised to $4.00

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 target price increased by Evercore ISI from $3.00 to $4.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an "in-line" rating on the stock. Evercore ISI's target price points to a potential upside of 8.40% from the stock's previous close.

Several other brokerages have also recently issued reports on HCAT. Cantor Fitzgerald restated a "neutral" rating and set a $4.00 price objective (down previously from $9.00) on shares of Health Catalyst in a research note on Friday, August 8th. Stifel Nicolaus cut their price objective on Health Catalyst from $5.50 to $4.50 and set a "hold" rating on the stock in a research note on Friday, August 8th. BTIG Research cut Health Catalyst from a "buy" rating to a "neutral" rating in a research note on Tuesday, June 17th. Canaccord Genuity Group cut their price objective on Health Catalyst from $10.00 to $9.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Finally, Piper Sandler cut Health Catalyst from an "overweight" rating to a "neutral" rating and cut their price objective for the company from $8.00 to $4.00 in a research note on Wednesday. Four investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $5.82.

Health Catalyst Trading Up 5.4%

NASDAQ:HCAT opened at $3.69 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.83 and a current ratio of 1.83. Health Catalyst has a one year low of $2.52 and a one year high of $9.24. The business's 50-day simple moving average is $3.63 and its 200 day simple moving average is $4.04. The stock has a market cap of $259.67 million, a price-to-earnings ratio of -2.44 and a beta of 1.46.

Hedge Funds Weigh In On Health Catalyst

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Engineers Gate Manager LP grew its holdings in Health Catalyst by 43.0% in the 2nd quarter. Engineers Gate Manager LP now owns 99,240 shares of the company's stock worth $374,000 after buying an additional 29,865 shares in the last quarter. First Light Asset Management LLC grew its holdings in Health Catalyst by 17.2% in the 2nd quarter. First Light Asset Management LLC now owns 12,230,181 shares of the company's stock worth $46,108,000 after buying an additional 1,793,374 shares in the last quarter. Jane Street Group LLC bought a new position in Health Catalyst in the 2nd quarter worth approximately $173,000. The Manufacturers Life Insurance Company grew its holdings in Health Catalyst by 19.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,491 shares of the company's stock worth $100,000 after buying an additional 4,341 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its holdings in Health Catalyst by 68.4% in the 2nd quarter. Qube Research & Technologies Ltd now owns 282,281 shares of the company's stock worth $1,064,000 after buying an additional 114,626 shares in the last quarter. 85.00% of the stock is owned by 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.

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