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In a recent transaction filed with the Securities and Exchange Commission, Landry Benjamin, General Counsel of Health Catalyst , Inc. (NASDAQ:HCAT), a healthcare technology company with a market capitalization of $420 million and a "GOOD" InvestingPro Financial Health score, sold 2,500 shares of the company's common stock. The shares were sold at an average price of $7.5182 per share, amounting to a total transaction value of $18,795. Following this sale, Benjamin retains ownership of 72,250 shares in the company. This transaction was executed under a pre-established trading plan in accordance with Rule 10b5-1, adopted in March 2024. According to InvestingPro analysis, the stock has shown strong momentum with a 26% gain over the past six months, and six analysts have recently revised their earnings estimates upward. The company appears undervalued based on InvestingPro's Fair Value calculation. Get access to detailed valuation analysis and 12+ additional InvestingPro Tips for HCAT through the comprehensive Pro Research Report.
In other recent news, Health Catalyst Inc. has been the focus of several significant developments. KeyBanc Capital Markets upgraded Health Catalyst's stock from Sector Weight to Overweight, setting a new price target at $9.00. This upgrade follows KeyBanc's analysis of credit card data indicating healthy utilization levels, which are expected to positively influence hospital technology budgets.
Piper Sandler also demonstrated optimism for Health Catalyst, raising the price target on the company's stock to $12.00, up from the previous $11.00. This adjustment was based on the revised calendar year 2024 guidance provided by Health Catalyst, which anticipates a robust year-over-year growth.
Financial services firm Stephens increased the price target for Health Catalyst to $9.00, up from the previous $7.00, following the company's third-quarter performance. The company recently disclosed its third-quarter financial results for 2024, indicating a positive profit and loss execution and a revenue mix shifting back towards software.
Finally, during the recent earnings conference call, Health Catalyst's leadership provided insights into the company's performance and future outlook, emphasizing its forward-looking growth strategies and financial expectations for the remainder of 2024 and the full year of 2025. These are the recent developments for Health Catalyst, which continues to navigate the dynamic healthcare landscape.
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