Health Catalyst (NASDAQ:HCAT) Lowered to Neutral Rating by Citigroup

Key Points

• Health Catalyst's stock has been given a neutral rating by Citigroup, which has lowered its price target from $6.50 to $3.50.
• Several other analysts have also adjusted their ratings and price targets for Health Catalyst, with a consensus rating of "Hold" and a target price of $6.55 among investment analysts.
• The company's stock traded down to $2.83, indicating a significant drop in value, with a 12-month low at $2.80 and a high of $9.24.

Health Catalyst (NASDAQ:HCAT - Get Free Report) was downgraded by investment analysts at Citigroup from a "buy" rating to a "neutral" rating in a research report issued on Friday, Marketbeat.com reports. They presently have a $3.50 price target on the stock, down from their previous price target of $6.50. Citigroup's target price suggests a potential upside of 21.74% from the company's previous close.

Several other brokerages also recently weighed in on HCAT. Cantor Fitzgerald restated a "neutral" rating and set a $4.00 price target (down previously from $9.00) on shares of Health Catalyst in a report on Friday. BTIG Research downgraded Health Catalyst from a "buy" rating to a "neutral" rating in a report on Tuesday, June 17th. Stifel Nicolaus dropped their price objective on Health Catalyst from $5.50 to $4.50 and set a "hold" rating on the stock in a report on Friday. KeyCorp dropped their price objective on Health Catalyst from $7.00 to $5.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Finally, Canaccord Genuity Group dropped their price objective on Health Catalyst from $10.00 to $9.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $6.18.

Health Catalyst Stock Up 6.5%

NASDAQ HCAT traded up $0.18 during trading hours on Friday, hitting $2.88. 968,908 shares of the company were exchanged, compared to its average volume of 696,417. The company has a 50 day moving average of $3.82 and a two-hundred day moving average of $4.23. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.40. Health Catalyst has a 52-week low of $2.52 and a 52-week high of $9.24. The firm has a market cap of $200.10 million, a price-to-earnings ratio of -1.91 and a beta of 1.46.

Institutional Trading of Health Catalyst

Large investors have recently made changes to their positions in the company. Group One Trading LLC boosted its position in shares of Health Catalyst by 107.6% in the 4th quarter. Group One Trading LLC now owns 4,360 shares of the company's stock valued at $31,000 after purchasing an additional 2,260 shares during the period. Aquatic Capital Management LLC acquired a new stake in Health Catalyst during the 4th quarter worth approximately $63,000. Focus Partners Wealth acquired a new stake in Health Catalyst during the 1st quarter worth approximately $46,000. Divergent Planning LLC acquired a new stake in Health Catalyst during the 2nd quarter worth approximately $45,000. Finally, XTX Topco Ltd acquired a new stake in Health Catalyst during the 1st quarter worth approximately $54,000. 85.00% of the stock is owned by institutional investors and hedge funds.

About Health Catalyst

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.