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SALT LAKE CITY - Health Catalyst, Inc. (NASDAQ:HCAT), a healthcare data and analytics company currently valued at $257 million, announced Thursday that Chief Executive Officer Dan Burton will step down from his role effective June 30, 2026, after 15 years of leadership. According to InvestingPro data, while the company isn’t currently profitable, analysts expect positive earnings this year.
Burton plans to retire from his full-time position to pursue volunteer service opportunities with his wife in support of their faith as members of the Church of Jesus Christ of Latter-Day Saints, according to a company press release.
Burton will continue to serve on the Health Catalyst Board of Directors and will support the board in its search for a new CEO. The company’s Nominating and Corporate Governance Committee will conduct the search for his successor.
"It has been the highlight of my career to serve in this role, in a company filled with teammates I love, in service of a mission that I believe in," Burton said.
Since joining Health Catalyst in January 2011 when the company had just three team members, Burton has overseen significant expansion, including the company’s initial public offering in 2019. Under his leadership, Health Catalyst has grown to serve 1,100 healthcare clients with over 1,400 employees. The company’s stock, currently trading near its 52-week low at $3.69, appears undervalued according to InvestingPro analysis, with revenue growing at 4.88% over the last twelve months. For deeper insights into Health Catalyst’s valuation and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro.
Jack Kane, Chairman of the Health Catalyst Board of Directors, thanked Burton for his "many years of outstanding service" and expressed gratitude that Burton will remain on the board.
This marks the third time a member of Health Catalyst’s senior leadership has stepped down to provide faith-based volunteer service. Previous executives Paul Horstmeier and co-founder Steve Barlow also left their positions to serve missions for the Church of Jesus Christ of Latter-Day Saints.
Health Catalyst provides data and analytics technology to healthcare organizations, with more than 1,000 organizations worldwide using its services. InvestingPro analysis reveals multiple additional insights about the company’s financial health and future prospects, with analysts projecting improved performance ahead. Subscribers can access over 30 key financial metrics and exclusive ProTips for HCAT.
In other recent news, Health Catalyst has seen a mix of developments affecting its stock and business outlook. Cantor Fitzgerald has reiterated an Overweight rating on Health Catalyst, setting a price target of $9.00, and expressed optimism about the company’s sales pipeline through 2025, with positive signals extending into 2026. On the other hand, BTIG downgraded Health Catalyst from Buy to Neutral due to concerns over potential reductions in healthcare coverage and market saturation, particularly in light of potential legislative changes that could impact Medicaid enrollment and Affordable Care Act plans.
Stifel maintained a Hold rating with a $5.50 price target, emphasizing the company’s ambitious revenue growth and EBITDA targets for 2025, though it cautioned about risks related to the closure of late-stage deals. Canaccord Genuity adjusted its price target for Health Catalyst to $9 from $10, maintaining a Buy rating and pointing to the company’s acquisition of 40 new platform clients and a net dollar retention rate of 103%. The firm noted the stock’s current trading valuation as a potential opportunity for investors.
In corporate governance, Health Catalyst shareholders approved all proposals at the recent annual meeting, including the election of two directors, Duncan Gallagher and Dr. Jill Hoggard Green, for three-year terms. These developments come amid ongoing discussions about Health Catalyst’s financial targets and strategic initiatives, such as the shift to the Ignite platform and potential data licensing deals. Investors are closely watching these factors as they assess the company’s future performance.
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