Canaccord Genuity Group Reiterates “Buy” Rating for Heartflow (NASDAQ:HTFL)

Heartflow (NASDAQ:HTFL)‘s stock had its “buy” rating reissued by research analysts at Canaccord Genuity Group in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $40.00 price objective on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 72.44% from the stock’s current price.

Several other equities research analysts also recently weighed in on HTFL. Weiss Ratings reissued a “sell (d)” rating on shares of Heartflow in a research note on Monday, December 29th. Stifel Nicolaus increased their price objective on shares of Heartflow from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Wells Fargo & Company began coverage on shares of Heartflow in a research report on Wednesday, January 28th. They set an “overweight” rating and a $38.00 price target on the stock. Finally, JPMorgan Chase & Co. increased their price objective on shares of Heartflow from $36.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.50.

Heartflow Trading Up 0.9%

NASDAQ:HTFL traded up $0.22 during trading hours on Monday, reaching $23.20. The company had a trading volume of 1,267,042 shares, compared to its average volume of 1,423,707. The firm’s 50 day moving average price is $28.43 and its 200-day moving average price is $30.97. Heartflow has a 52 week low of $20.13 and a 52 week high of $41.22. The firm has a market cap of $1.98 billion and a price-to-earnings ratio of -12.83.

Insider Activity

In other Heartflow news, major shareholder Bain Capital Life Sciences Inv sold 2,000,000 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $28.05, for a total value of $56,100,000.00. Following the completion of the transaction, the insider directly owned 10,448,158 shares of the company’s stock, valued at $293,070,831.90. This represents a 16.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Campbell Rogers sold 65,153 shares of Heartflow stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $24.49, for a total transaction of $1,595,596.97. Following the completion of the sale, the insider owned 76,034 shares of the company’s stock, valued at approximately $1,862,072.66. This trade represents a 46.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 2,104,837 shares of company stock worth $58,761,759.

Institutional Trading of Heartflow

A number of hedge funds and other institutional investors have recently made changes to their positions in HTFL. Baillie Gifford & Co. acquired a new stake in shares of Heartflow in the third quarter worth $101,182,000. TD Asset Management Inc bought a new stake in shares of Heartflow in the 3rd quarter valued at approximately $2,692,000. New York State Common Retirement Fund bought a new position in shares of Heartflow during the third quarter valued at $4,015,000. Artisan Partners Limited Partnership acquired a new position in shares of Heartflow in the 3rd quarter worth approximately $16,817,000. Finally, JPMorgan Chase & Co. acquired a new stake in shares of Heartflow in the third quarter valued at $13,887,000.

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.