Jason Alger, the Chief Financial Officer of Health Catalyst , Inc. (NASDAQ:HCAT), a healthcare data analytics company with a market capitalization of $509 million, sold 19,599 shares of the company on December 6, 2024. According to InvestingPro analysis, the company currently trades below its Fair Value, with analysts maintaining a bullish outlook and a consensus "Buy" recommendation. The shares were sold at an average price of $8.3193 each, amounting to a total transaction value of $163,049. Following this sale, Alger holds 86,712 shares directly. The transaction was executed as part of a pre-arranged trading plan under Rule 10b5-1, which was adopted earlier this year on March 13. While the company isn't currently profitable, InvestingPro data reveals that earnings are expected to turn positive this year, with six analysts recently revising their earnings estimates upward. Discover more insights about HCAT and 1,400+ other stocks through comprehensive Pro Research Reports, available exclusively with an InvestingPro subscription.
In other recent news, Health Catalyst Inc. has seen a series of significant developments. Financial services firms Piper Sandler and Stephens have both increased their price targets for the company. Piper Sandler raised its target to $12, up from $11, reaffirming an Overweight rating on the stock and expressing optimism for the company's growth. Similarly, Stephens increased its price target to $9, up from $7, maintaining an Equal Weight rating.
These adjustments follow Health Catalyst's strong third-quarter performance in 2024, which included a positive profit and loss execution and a shift back towards software in its revenue mix. The company also provided financial projections for the remainder of 2024 and the full year of 2025, indicating a robust growth trajectory.
Moreover, Piper Sandler's updated model incorporates Health Catalyst's revised guidance for calendar year 2024, predicting approximately 50% year-over-year growth in adjusted EBITDA for 2025. The firm also expressed interest in discussing the company's bookings mix, implementation timelines, segment margins, cross-selling initiatives, and plans for upcoming convertible notes due in 2025. These developments underscore the recent progress and future ambitions of Health Catalyst.
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