Heartflow (NASDAQ:HTFL) Shares Down 9.4% – What’s Next?

Heartflow, Inc. (NASDAQ:HTFL)’s share price traded down 9.4% during mid-day trading on Monday . The company traded as low as $25.96 and last traded at $25.6530. 410,354 shares changed hands during trading, a decline of 70% from the average session volume of 1,381,949 shares. The stock had previously closed at $28.32.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. William Blair started coverage on Heartflow in a report on Monday, May 4th. They set an “outperform” rating on the stock. Canaccord Genuity Group cut their price objective on shares of Heartflow from $43.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday. Wells Fargo & Company increased their target price on Heartflow from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday. Finally, JPMorgan Chase & Co. cut their target price on Heartflow from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, March 19th. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Heartflow has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Heartflow Trading Down 9.2%

The company’s 50-day moving average is $27.28 and its two-hundred day moving average is $28.80. The firm has a market cap of $2.22 billion and a P/E ratio of -8.24.

Heartflow (NASDAQ:HTFL) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.16) earnings per share 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 company’s revenue was up 41.3% compared to the same quarter last year. Research analysts anticipate that Heartflow, Inc. will post -0.78 EPS for the current fiscal year.

Insider Activity

In other news, CEO John C.M. Farquhar sold 22,562 shares of Heartflow stock in a transaction on Monday, May 11th. The stock was sold at an average price of $29.12, for a total transaction of $657,005.44. Following the sale, the chief executive officer directly owned 519,397 shares in the company, valued at $15,124,840.64. The trade was a 4.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 Heartflow 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 sale, the insider directly owned 8,448,158 shares in the company, valued at $246,939,658.34. This trade represents a 10.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 2,205,874 shares of company stock worth $64,166,729 in the last quarter. 7.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Heartflow

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HTFL. Quantinno Capital Management LP bought a new stake in Heartflow during the 1st quarter valued at $1,734,000. Lazard Asset Management LLC bought a new stake in shares of Heartflow during the first quarter valued at about $928,000. Entropy Technologies LP bought a new stake in shares of Heartflow during the first quarter valued at about $338,000. Sei Investments Co. increased its position in shares of Heartflow by 342.5% during the first quarter. Sei Investments Co. now owns 67,048 shares of the company’s stock valued at $1,631,000 after buying an additional 51,895 shares during the period. Finally, Walleye Capital LLC bought a new position in shares of Heartflow in the first quarter worth $474,000.

Heartflow Company Profile

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.