UPDATE: RBC Capital Downgrades Health Catalyst Inc. (HCAT) to Sector Perform

RBC Capital analyst Sean Dodge downgraded Health Catalyst Inc. (NASDAQ: HCAT) from Outperform to Sector Perform with a price target of $9.00 (from $19.00).

The analyst comments "While we remain positive on the LT structural tailwinds and HCAT's competitive position in the market, Q2 guidance and commentary point to slower NT revenue growth with little visibility on timing of reacceleration and a potentially longer path to sustainable profitability. Further, results from hospitals that reported Q3 results thus far show the challenges providers are facing do not appear to be abating. As a result, we are downgrading shares to Sector Perform (from Outperform) until we see more evidence the financial environment for health systems improves and reignites demand for HCAT's solutions. PT to $9 (from $19)."

For an analyst ratings summary and ratings history on Health Catalyst Inc. click here. For more ratings news on Health Catalyst Inc. click here.

Shares of Health Catalyst Inc. closed at $8.78 yesterday.

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