Should You Eliminate Health Catalyst (HCAT) From Your Portfolio?

ClearBridge Investments, an investment management company, published its “ClearBridge Small Cap Growth Strategy” third quarter 2022 investor letter. A copy of the same can be downloaded here. In the third quarter, the strategy underperformed its benchmark, the Russell 2000 Growth Index, declining about 1%. Overall stock selection and sector allocation drove the strategy to underperform in the quarter. The healthcare sector was the primary performance detractor. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge Investments highlighted stocks like Health Catalyst, Inc. (NASDAQ:HCAT) in its Q3 2022 investor letter. Headquartered in South Jordan, Utah, Health Catalyst, Inc. (NASDAQ:HCAT) provides a data and analytics platform to the healthcare sector. On November 23, 2022, Health Catalyst, Inc. (NASDAQ:HCAT) stock closed at $9.98 per share. One-month return of Health Catalyst, Inc. (NASDAQ:HCAT) was 7.89%, and its shares lost 77.81% of their value over the last 52 weeks. Health Catalyst, Inc. (NASDAQ:HCAT) has a market capitalization of $546.415 million.

ClearBridge Investments made the following comment about Health Catalyst, Inc. (NASDAQ:HCAT) in its Q3 2022 investor letter:

“On the sell side, we eliminated three names from the portfolio. Health care data and analytics provider Health Catalyst, Inc. (NASDAQ:HCAT) has struggled with management turnover and a client base of health systems stressed by pandemic labor shortages.”

Countries with the Lowest Cancer Rates in the World in 2018 adriaticfoto/Shutterstock.com

Health Catalyst, Inc. (NASDAQ:HCAT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 29 hedge fund portfolios held Health Catalyst, Inc. (NASDAQ:HCAT) at the end of the third quarter, which was 28 in the previous quarter. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.

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