Heartflow (NASDAQ:HTFL) Stock Price Up 7.1% – Still a Buy?

Heartflow, Inc. (NASDAQ:HTFL) was up 7.1% on Wednesday . The stock traded as high as $27.39 and last traded at $27.3110. Approximately 199,673 shares changed hands during trading, a decline of 87% from the average session volume of 1,482,831 shares. The stock had previously closed at $25.49.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HTFL shares. JPMorgan Chase & Co. decreased their price objective on Heartflow from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, March 19th. Wells Fargo & Company boosted their target price on shares of Heartflow from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Weiss Ratings cut shares of Heartflow from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, July 8th. Piper Sandler reissued an “overweight” rating on shares of Heartflow in a research note on Thursday, June 11th. Finally, Freedom Capital upgraded shares of Heartflow to a “strong-buy” rating in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Heartflow Price Performance

The firm’s 50 day moving average price is $30.03 and its 200-day moving average price is $28.59. The stock has a market cap of $2.42 billion and a P/E ratio of -9.05.

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

Insider Activity

In related news, CEO John C.M. Farquhar sold 38,900 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $35.00, for a total transaction of $1,361,500.00. Following the sale, the chief executive officer directly owned 457,935 shares of the company’s stock, valued at $16,027,725. This trade represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 value of $27,732,167.11. Following the completion of the sale, the insider owned 8,448,158 shares of the company’s stock, valued at $246,939,658.34. The trade was a 10.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,115,805 shares of company stock valued at $62,445,744 over the last ninety days. 7.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Heartflow

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. TrueMark Investments LLC grew its position in Heartflow by 1.4% in the 1st quarter. TrueMark Investments LLC now owns 26,885 shares of the company’s stock worth $654,000 after purchasing an additional 379 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Heartflow during the 4th quarter valued at $27,000. Strs Ohio boosted its stake in shares of Heartflow by 35.3% in the 1st quarter. Strs Ohio now owns 4,600 shares of the company’s stock worth $112,000 after buying an additional 1,200 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in Heartflow in the fourth quarter worth about $45,000. Finally, Legal & General Group Plc bought a new stake in Heartflow during the third quarter valued at approximately $59,000.

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.