Fred Alger Management LLC Makes New $6.86 Million Investment in Health Catalyst, Inc. (NASDAQ:HCAT)

Fred Alger Management LLC bought a new position in shares of Health Catalyst, Inc. (NASDAQ:HCAT - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 842,509 shares of the company's stock, valued at approximately $6,858,000. Fred Alger Management LLC owned 1.38% of Health Catalyst at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Millrace Asset Group Inc. bought a new stake in Health Catalyst in the 3rd quarter valued at about $1,568,000. Primecap Management Co. CA grew its position in Health Catalyst by 1.1% in the 3rd quarter. Primecap Management Co. CA now owns 2,404,462 shares of the company's stock valued at $19,572,000 after purchasing an additional 25,000 shares during the period. Intech Investment Management LLC bought a new stake in Health Catalyst during the 3rd quarter valued at $145,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Health Catalyst by 118.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 131,532 shares of the company's stock valued at $1,071,000 after buying an additional 71,201 shares in the last quarter. Finally, Quest Partners LLC bought a new position in shares of Health Catalyst in the third quarter valued at approximately $34,000. 85.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on HCAT shares. Royal Bank of Canada boosted their price objective on Health Catalyst from $8.00 to $9.00 and gave the stock a "sector perform" rating in a research report on Thursday, November 7th. Evercore ISI boosted their target price on shares of Health Catalyst from $8.00 to $10.00 and gave the company an "outperform" rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. increased their price target on shares of Health Catalyst from $10.00 to $13.00 and gave the stock an "overweight" rating in a report on Wednesday, September 4th. Citigroup lifted their price objective on Health Catalyst from $9.00 to $10.50 and gave the company a "buy" rating in a research note on Wednesday, November 13th. Finally, Piper Sandler reissued an "overweight" rating and issued a $12.00 price target (up previously from $11.00) on shares of Health Catalyst in a research note on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $11.79.

Insiders Place Their Bets

In other Health Catalyst news, insider Kevin Lee Freeman sold 7,500 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $7.22, for a total value of $54,150.00. Following the completion of the transaction, the insider now owns 255,881 shares in the company, valued at $1,847,460.82. This represents a 2.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Daniel Lesueur sold 8,137 shares of Health Catalyst stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $7.58, for a total transaction of $61,678.46. Following the sale, the chief operating officer now owns 140,108 shares in the company, valued at $1,062,018.64. This represents a 5.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,068 shares of company stock worth $257,555 over the last three months. 2.50% of the stock is owned by insiders.

Health Catalyst Trading Up 2.1 %

NASDAQ HCAT traded up $0.18 during trading hours on Friday, reaching $8.83. The company had a trading volume of 241,715 shares, compared to its average volume of 503,577. The stock has a market capitalization of $537.29 million, a P/E ratio of -6.54 and a beta of 1.32. Health Catalyst, Inc. has a 1-year low of $5.42 and a 1-year high of $11.41. The stock has a 50-day moving average of $8.12 and a 200 day moving average of $7.33. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.32.

Health Catalyst (NASDAQ:HCAT - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.03). The business had revenue of $76.40 million during the quarter, compared to analysts' expectations of $76.27 million. Health Catalyst had a negative net margin of 26.20% and a negative return on equity of 7.51%. The firm's revenue for the quarter was up 3.5% on a year-over-year basis. During the same period last year, the company earned ($0.22) EPS. As a group, research analysts anticipate that Health Catalyst, Inc. will post -0.33 earnings per share for the current fiscal year.

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.