Heartflow (NASDAQ:HTFL) Upgraded by Freedom Capital to Strong-Buy Rating

Freedom Capital upgraded shares of Heartflow (NASDAQ:HTFL) to a strong-buy rating in a research note released on Tuesday,Zacks.com reports.

Several other research firms have also commented on HTFL. William Blair began coverage on Heartflow in a research report on Monday, May 4th. They issued an “outperform” rating on the stock. Canaccord Genuity Group lowered their target price on Heartflow from $43.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Wells Fargo & Company increased their price objective on shares of Heartflow from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Weiss Ratings upgraded shares of Heartflow from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, June 12th. Finally, Piper Sandler reissued an “overweight” rating on shares of Heartflow in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $37.00.

Heartflow Stock Down 8.9%

NASDAQ:HTFL opened at $27.97 on Tuesday. The company has a market capitalization of $2.41 billion and a PE ratio of -8.99. The stock has a fifty day simple moving average of $30.66 and a 200-day simple moving average of $28.69. Heartflow has a 52-week low of $20.13 and a 52-week high of $41.22.

Heartflow (NASDAQ:HTFL) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.16) 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 revenue for the quarter was up 41.3% on a year-over-year basis. As a group, equities analysts anticipate that Heartflow will post -0.82 earnings per share for the current year.

Insider Activity

In other news, insider Campbell Rogers sold 9,219 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $28.34, for a total value of $261,266.46. Following the completion of the sale, the insider owned 78,731 shares of the company’s stock, valued at approximately $2,231,236.54. The trade was a 10.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John C.M. Farquhar sold 38,900 shares of the company’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $35.00, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 2,115,805 shares of company stock worth $62,422,505. 7.70% of the stock is currently owned by insiders.

Institutional Trading of Heartflow

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP lifted its holdings in Heartflow by 20.8% during the 4th quarter. Wellington Management Group LLP now owns 5,894,070 shares of the company’s stock worth $171,812,000 after buying an additional 1,014,006 shares during the last quarter. Bamco Inc. NY boosted its holdings in Heartflow by 86.2% in the fourth quarter. Bamco Inc. NY now owns 2,303,877 shares of the company’s stock worth $67,158,000 after purchasing an additional 1,066,371 shares during the period. Janus Henderson Group PLC increased its stake in Heartflow by 152.0% during the first quarter. Janus Henderson Group PLC now owns 2,180,976 shares of the company’s stock valued at $53,063,000 after purchasing an additional 1,315,416 shares during the last quarter. Schusterman Interests LLC acquired a new stake in shares of Heartflow during the third quarter worth $65,274,000. Finally, Capricorn Investment Group LLC bought a new stake in shares of Heartflow during the 4th quarter valued at about $48,178,000.

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.