Health Catalyst shareholders approve all proposals at annual meeting

Health Catalyst , Inc. (NASDAQ:HCAT), a healthcare technology company currently valued at $278.4 million, held its annual meeting of shareholders on Wednesday. According to a press release statement based on a recent SEC filing, shareholders voted on four proposals. InvestingPro analysis indicates the stock is currently trading below its Fair Value, with analysts maintaining a bullish outlook despite the stock’s 43% decline year-to-date.

Two directors, Duncan Gallagher and Dr. Jill Hoggard Green, were elected to serve as Class III directors for three-year terms expiring at the 2028 annual meeting. Gallagher received 37,136,561 votes in favor and 9,402,545 votes withheld. Dr. Hoggard Green received 45,320,332 votes in favor and 1,218,774 votes withheld. There were 6,586,735 broker non-votes for each nominee. The company operates with a moderate level of debt and maintains a "GOOD" overall financial health score according to InvestingPro metrics.

Shareholders ratified the appointment of Ernst & Young LLP as the company’s independent registered public accounting firm for the fiscal year ending December 31, 2025. The vote was 53,070,196 in favor, 26,656 against, and 28,989 abstentions.

An advisory, non-binding proposal to approve the compensation of the company’s named executive officers was approved, with 45,000,705 votes for, 768,325 against, 770,076 abstentions, and 6,586,735 broker non-votes.

Shareholders also approved an advisory, non-binding proposal for the board of directors to initiate action to declassify the board. The results were 46,174,256 votes for, 345,811 against, 19,039 abstentions, and 6,586,735 broker non-votes.

The number of shares entitled to vote at the meeting was 69,601,233, and 53,125,841 shares were present or represented by proxy.

All information is based on a press release statement and the company’s filing with the Securities and Exchange Commission.

In other recent news, Health Catalyst Inc. reported its first-quarter 2025 earnings, surpassing expectations with an earnings per share (EPS) of $0.01, compared to the forecasted $0.0027. The company also reported a revenue of $79.41 million, slightly above the $79.21 million forecast, demonstrating a 6% year-over-year increase. The launch of the Ignite platform contributed to this growth, with the company adding 10 new clients and expanding strategic partnerships with Microsoft (NASDAQ:MSFT) and Databricks. However, BTIG downgraded Health Catalyst from Buy to Neutral, expressing concerns over potential reductions in healthcare coverage and market saturation. Stifel maintained its Hold rating with a $5.50 target, noting the risks associated with Health Catalyst’s financial targets for 2025. Canaccord Genuity lowered its price target to $9 from $10 but maintained a Buy rating, citing the stock’s deep discount and potential growth from the Ignite platform. Evercore ISI raised its price target to $5, highlighting the company’s efforts to expand its Total (EPA:TTEF) Addressable Market (TAM) to mid-sized customers. These developments indicate a mix of positive growth and ongoing challenges for Health Catalyst in the healthcare technology market.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.