Heartflow (NASDAQ:HTFL) Trading Down 11.2% – Here’s What Happened

Shares of Heartflow, Inc. (NASDAQ:HTFL) dropped 11.2% during trading on Tuesday . The stock traded as low as $30.00 and last traded at $30.95. 324,683 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 1,457,201 shares. The stock had previously closed at $34.85.

Wall Street Analysts Forecast Growth

HTFL has been the subject of several research analyst reports. Wells Fargo & Company raised their target price on shares of Heartflow from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Weiss Ratings raised shares of Heartflow from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, June 12th. William Blair started coverage on Heartflow in a research report on Monday, May 4th. They set an “outperform” rating for the company. Canaccord Genuity Group decreased their target price on Heartflow from $43.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Finally, JPMorgan Chase & Co. dropped their price target on Heartflow from $40.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, March 19th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Heartflow Stock Performance

The stock has a market cap of $2.65 billion and a P/E ratio of -9.87. The stock’s fifty day moving average is $30.74 and its 200 day moving average is $28.68.

Heartflow (NASDAQ:HTFL) last issued 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 company had revenue of $52.59 million for the quarter. The company’s quarterly revenue was up 41.3% compared to the same quarter last year. Equities research analysts predict that Heartflow, Inc. will post -0.82 EPS for the current year.

Insider Activity at Heartflow

In other news, CEO John C.M. Farquhar sold 38,900 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer owned 457,935 shares in the company, valued at approximately $16,027,725. This trade represents a 7.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 dated 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 transaction, the insider directly owned 8,448,158 shares of the company’s stock, valued at approximately $246,939,658.34. This represents a 10.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 2,115,805 shares of company stock worth $62,422,505. Company insiders own 7.70% of the company’s stock.

Institutional Trading of Heartflow

Institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP purchased a new position in shares of Heartflow during the third quarter valued at approximately $164,263,000. Schusterman Interests LLC bought a new stake in shares of Heartflow during the 3rd quarter worth approximately $65,274,000. Capricorn Investment Group LLC purchased a new position in Heartflow during the 4th quarter valued at $48,178,000. Vanguard Group Inc. bought a new position in Heartflow in the 3rd quarter valued at $48,871,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Heartflow in the fourth quarter worth $41,714,000.

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.