Health Catalyst price target lowered to $15 from $20 at BTIG

BTIG lowered the firm’s price target on Health Catalyst to $15 from $20 and keeps a Buy rating on the shares as part of a broader research note previewing Q3 earnings in Health Tech. The analyst states that heading into the quarter, the firm sees hospital cap-ex and buying cycle to improve, with better inflation trends and volumes. The firm is also expecting a slight uptick in procedure volumes and continued demand for value-based-care solutions, along with some impact from obesity management. BTIG is cutting its price target on the stock due to the macro pullback but notes that the Tech-Enabled Managed Services deal flow seems robust.