SALT LAKE CITY— Health Catalyst , Inc. (NASDAQ:HCAT) reported that Chief People Officer Linda Llewelyn sold 1,365 shares of the company's common stock, according to a recent SEC filing. The shares were sold at a price of $8.50 each, totaling $11,602. Following this transaction, Llewelyn retains ownership of 112,910 shares.
The transaction was executed as part of a pre-established trading plan under Rule 10b5-1, which was adopted on March 12, 2024. Such plans allow insiders to sell stock at predetermined times to avoid potential conflicts of interest.
In other recent news, Health Catalyst has been the subject of financial analysis and projections. Stephens, a financial services firm, has increased the price target for Health Catalyst to $9.00, up from the previous $7.00, while maintaining an Equal Weight rating on the stock. This adjustment comes in light of Health Catalyst's third-quarter performance, which saw a modest EBITDA beat and affirmation of its full-year 2024 bookings forecast. The company's recent performance has been marked by positive profit and loss execution and a revenue mix increasingly shifting back towards software.
Further, Health Catalyst disclosed its third-quarter financial results for 2024, offering insights into its growth strategies and financial expectations for the remainder of 2024 and the full year of 2025. The company's leadership expressed a positive outlook for the company's growth trajectory, with no explicit mentions of financial misses or underperformance.
These are recent developments for Health Catalyst as it continues to navigate the dynamic healthcare landscape. As the company continues to drive growth and deliver value, stakeholders will be closely watching its performance against the projections shared in its earnings call.
InvestingPro Insights
While Health Catalyst's Chief People Officer Linda Llewelyn recently sold a portion of her shares, it's important to consider the broader financial context of the company. According to InvestingPro data, Health Catalyst has a market capitalization of $456.97 million and generated revenue of $302.06 million in the last twelve months as of Q3 2024, with a modest revenue growth of 4.15% over the same period.
Despite the recent insider sale, there are some positive indicators for the company. An InvestingPro Tip reveals that net income is expected to grow this year, which could signal improving financial health. Additionally, 5 analysts have revised their earnings upwards for the upcoming period, suggesting a potentially optimistic outlook.
However, investors should note that the stock has taken a significant hit over the last week, with a 1-week price total return of -8.05%. This recent downturn aligns with Llewelyn's sale timing, though it's crucial to remember that insider transactions can occur for various personal reasons and may not always reflect the company's overall prospects.
For those seeking a more comprehensive analysis, InvestingPro offers 7 additional tips for Health Catalyst, providing a deeper understanding of the company's financial position and market performance. These insights can be particularly valuable given the company's current situation, operating with a moderate level of debt and not being profitable over the last twelve months.
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