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

Heartflow, Inc. (NASDAQ:HTFL) has earned a consensus rating of “Moderate Buy” from the nine analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $37.00.

HTFL has been the topic of several research reports. Weiss Ratings raised shares of Heartflow from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, June 12th. Wells Fargo & Company boosted their price objective 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. William Blair initiated coverage on shares of Heartflow in a research note on Monday, May 4th. They set an “outperform” rating on the stock. Piper Sandler reissued an “overweight” rating on shares of Heartflow in a research note on Thursday, June 11th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Heartflow from $40.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, March 19th.

Heartflow Price Performance

Shares of NASDAQ HTFL opened at $35.68 on Monday. Heartflow has a 1 year low of $20.13 and a 1 year high of $41.22. The company’s 50-day moving average is $30.69 and its 200 day moving average is $28.60. The stock has a market capitalization of $3.08 billion and a P/E ratio of -11.47.

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

Insider Buying and Selling

In related news, CEO John C.M. Farquhar sold 38,900 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $35.00, for a total transaction of $1,361,500.00. Following the sale, the chief executive officer owned 457,935 shares of the company’s stock, valued at $16,027,725. The trade was a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Campbell Rogers sold 9,219 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $28.34, for a total transaction of $261,266.46. Following the sale, the insider directly owned 78,731 shares in the company, valued at $2,231,236.54. The trade was a 10.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 2,180,338 shares of company stock valued at $64,012,598 over the last quarter. Corporate insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. TD Asset Management Inc bought a new position in shares of Heartflow in the third quarter worth approximately $2,692,000. Fred Alger Management LLC bought a new position in shares of Heartflow in the third quarter worth approximately $9,997,000. JPMorgan Chase & Co. bought a new position in shares of Heartflow in the third quarter worth approximately $13,887,000. Atika Capital Management LLC bought a new position in shares of Heartflow in the third quarter worth approximately $2,323,000. Finally, Artisan Partners Limited Partnership bought a new position in shares of Heartflow in the third quarter worth approximately $16,817,000.

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.