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

Shares of Heartflow, Inc. (NASDAQ:HTFL) have been assigned an average rating of “Moderate Buy” from the nine research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $37.00.

Several brokerages have issued reports on HTFL. William Blair began coverage on Heartflow in a research report on Monday, May 4th. They set an “outperform” rating for the company. Wells Fargo & Company boosted their target price on Heartflow from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. JPMorgan Chase & Co. dropped their target price on Heartflow from $40.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. Finally, Canaccord Genuity Group dropped their target price on Heartflow from $43.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, May 15th.

Heartflow Trading Up 2.7%

HTFL opened at $29.43 on Thursday. The firm has a market cap of $2.54 billion and a P/E ratio of -9.46. Heartflow has a 12 month low of $20.13 and a 12 month high of $41.22. The stock has a 50-day moving average of $29.00 and a 200 day moving average of $28.31.

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

Insider Buying and Selling at Heartflow

In other Heartflow news, major shareholder Bain Capital Life Sciences Inv sold 948,757 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $29.23, for a total transaction of $27,732,167.11. Following the completion of the transaction, the insider owned 8,448,158 shares in the company, valued at $246,939,658.34. The trade was a 10.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John C.M. Farquhar sold 22,562 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $26.72, for a total value of $602,856.64. Following the completion of the sale, the chief executive officer owned 549,163 shares of the company’s stock, valued at $14,673,635.36. The trade was a 3.95% 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 sold 2,193,134 shares of company stock worth $63,909,059 over the last 90 days. Company insiders own 7.70% of the company’s stock.

Institutional Trading of Heartflow

Large investors have recently modified their holdings of the company. TD Asset Management Inc purchased a new stake in shares of Heartflow in the third quarter valued at approximately $2,692,000. Fred Alger Management LLC purchased a new stake in shares of Heartflow in the third quarter valued at approximately $9,997,000. New York State Common Retirement Fund purchased a new stake in shares of Heartflow in the third quarter valued at approximately $4,015,000. JPMorgan Chase & Co. purchased a new stake in shares of Heartflow in the third quarter valued at approximately $13,887,000. Finally, Artisan Partners Limited Partnership purchased a new stake in shares of Heartflow in the third quarter valued at 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.