Heartflow (NASDAQ:HTFL) Trading Down 11.2% – What’s Next?

Heartflow, Inc. (NASDAQ:HTFL)’s share price dropped 11.2% during trading on Tuesday . The company traded as low as $30.00 and last traded at $30.95. 324,683 shares were traded during trading, a decline of 78% from the average session volume of 1,457,201 shares. The stock had previously closed at $34.85.

Analyst Ratings Changes

HTFL has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their target price on 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 report on Monday, May 4th. They set an “outperform” rating for the company. Weiss Ratings raised shares of Heartflow from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, June 12th. Piper Sandler reiterated an “overweight” rating on shares of Heartflow in a research note on Thursday, June 11th. Finally, 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 report on Friday, May 15th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Heartflow currently has an average rating of “Moderate Buy” and a consensus target price of $37.00.

Heartflow Stock Performance

The firm has a 50 day moving average price of $30.79 and a two-hundred day moving average price of $28.66. The company has a market cap of $2.51 billion and a P/E ratio of -9.42.

Heartflow (NASDAQ:HTFL) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.08. The firm had revenue of $52.59 million during the quarter. The company’s revenue was up 41.3% compared to the same quarter last year. On average, sell-side analysts predict that Heartflow, Inc. will post -0.82 EPS for the current fiscal year.

Insider Activity

In related news, CEO John C.M. Farquhar sold 38,900 shares of Heartflow stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $35.00, for a total value of $1,361,500.00. Following the completion of the transaction, the chief executive officer directly owned 457,935 shares in the company, valued at approximately $16,027,725. The trade was a 7.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 business’s stock in a transaction on 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 sale, the insider directly owned 8,448,158 shares in the company, valued at $246,939,658.34. The trade was a 10.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,180,338 shares of company stock valued at $64,012,598 over the last quarter. Company insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Heartflow

Several hedge funds have recently made changes to their positions in the stock. Essential Partners LLC purchased a new position in Heartflow during the 1st quarter valued at about $57,000. Bank of America Corp DE lifted its holdings in shares of Heartflow by 28.8% in the first quarter. Bank of America Corp DE now owns 111,702 shares of the company’s stock worth $2,718,000 after buying an additional 24,964 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Heartflow by 152.0% in the first quarter. Janus Henderson Group PLC now owns 2,180,976 shares of the company’s stock worth $53,063,000 after buying an additional 1,315,416 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Heartflow by 41.9% in the first quarter. California State Teachers Retirement System now owns 29,371 shares of the company’s stock valued at $715,000 after acquiring an additional 8,678 shares during the period. Finally, Royal Bank of Canada grew its stake in Heartflow by 24.4% during the first quarter. Royal Bank of Canada now owns 137,421 shares of the company’s stock valued at $3,343,000 after acquiring an additional 26,912 shares in the last quarter.

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.