Heartflow, Inc. (NASDAQ:HTFL) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Heartflow, Inc. (NASDAQ:HTFL) have received a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $37.00.

A number of analysts have weighed in on HTFL shares. William Blair initiated coverage on Heartflow in a research report on Monday, May 4th. They set an “outperform” rating for the company. Wells Fargo & Company raised their target price on shares of Heartflow from $35.00 to $37.00 and gave the stock an “overweight” rating in a research note on Friday, May 15th. Canaccord Genuity Group reduced their target price on shares of Heartflow from $43.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Finally, JPMorgan Chase & Co. reduced their price target on Heartflow from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, March 19th.

Heartflow Price Performance

Shares of NASDAQ:HTFL opened at $28.85 on Thursday. The stock has a market cap of $2.49 billion and a P/E ratio of -9.28. The firm has a fifty day moving average price of $28.73 and a 200 day moving average price of $28.26. Heartflow has a 1-year low of $20.13 and a 1-year high of $41.22.

Heartflow (NASDAQ:HTFL) last issued its quarterly earnings results on Thursday, May 14th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.08. The business had revenue of $52.59 million for the quarter. The firm’s revenue was up 41.3% on a year-over-year basis. Sell-side analysts expect that Heartflow will post -0.82 EPS for the current fiscal year.

Insider Activity

In other news, CEO John C.M. Farquhar sold 22,562 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $29.12, for a total value of $657,005.44. Following the completion of the sale, the chief executive officer directly owned 519,397 shares of the company’s stock, valued at $15,124,840.64. This trade represents a 4.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Bain Capital Life Sciences Inv sold 948,757 shares of the firm’s stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $29.23, for a total transaction of $27,732,167.11. Following the completion of the sale, the insider owned 8,448,158 shares of the company’s stock, valued at $246,939,658.34. This trade represents a 10.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 2,205,971 shares of company stock valued at $64,199,945 in the last three months. 7.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Heartflow

Several hedge funds and other institutional investors have recently bought and sold shares of HTFL. Wellington Management Group LLP acquired a new position in Heartflow during the third quarter worth $164,263,000. Schusterman Interests LLC acquired a new position in Heartflow during the third quarter worth about $65,274,000. Capricorn Investment Group LLC acquired a new position in Heartflow during the fourth quarter worth about $48,178,000. Vanguard Group Inc. acquired a new position in Heartflow during the third quarter worth about $48,871,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Heartflow during the fourth quarter worth about $41,714,000.

About Heartflow

HeartFlow, Inc (NASDAQ: HTFL) is a medical technology company that develops non-invasive diagnostic solutions for coronary artery disease. The company’s core offering translates coronary CT angiography (CTA) data into a patient-specific, three-dimensional physiological model of the coronary arteries. Using advanced image processing and computational modeling, HeartFlow’s analysis estimates fractional flow reserve (FFR) values throughout the coronary tree to identify ischemia-producing lesions without the need for invasive pressure-wire measurements.

HeartFlow’s cloud-based service integrates with clinical workflows: clinicians submit coronary CTA images and receive a detailed, color-coded 3D map and report that highlights lesion-specific FFR values and physiological impact.