HCAT - Why Health Catalyst Stock Rallied Wednesday Morning
Shares of Health Catalyst (NASDAQ: HCAT) charged sharply higher Wednesday morning, surging as much as 13.7%. The rally seemed to lose stream as time when on, and as of 11:51 a.m. ET today, the stock was up 1.7%.
The catalyst that sent the healthcare data and analytics company higher was its quarterly financial results, which were better than investors had hoped.
For its fourth quarter, Health Catalyst generated revenue of $69.2 million, up 7% year over year. This resulted in an adjusted loss per share of $0.05, much improved from $0.19 in the prior-year quarter.
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Why Health Catalyst Stock Rallied Wednesday Morning