Heartflow (NASDAQ:HTFL) Hits New 52-Week High – Here’s What Happened

Heartflow, Inc. (NASDAQ:HTFL) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $47.95 and last traded at $46.80, with a volume of 1989666 shares changing hands. The stock had previously closed at $45.53.

Analysts Set New Price Targets

HTFL has been the subject of several recent research reports. Benchmark reissued a “buy” rating on shares of Heartflow in a report on Friday, August 14th. Stifel Nicolaus lifted their price target on shares of Heartflow from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Morgan Stanley boosted their price target on shares of Heartflow from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, August 14th. Robert W. Baird set a $45.00 price objective on shares of Heartflow in a report on Friday, August 14th. Finally, Canaccord Genuity Group raised their price objective on shares of Heartflow from $37.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Heartflow currently has an average rating of “Moderate Buy” and an average target price of $43.43.

Heartflow Price Performance

The stock’s 50 day simple moving average is $30.33 and its two-hundred day simple moving average is $28.17. The stock has a market cap of $4.07 billion and a P/E ratio of -25.57.

Heartflow (NASDAQ:HTFL) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.15. The business had revenue of $64.08 million for the quarter. Heartflow had a negative net margin of 55.82% and a negative return on equity of 23.52%. The firm’s quarterly revenue was up 47.7% on a year-over-year basis. As a group, analysts forecast that Heartflow, Inc. will post -0.82 earnings per share for the current fiscal year.

Insider Transactions at Heartflow

In related news, insider Campbell Rogers sold 9,219 shares of Heartflow stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $41.23, for a total value of $380,099.37. Following the sale, the insider owned 86,459 shares of the company’s stock, valued at approximately $3,564,704.57. This trade represents a 9.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John C.M. Farquhar sold 32,676 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $45.00, for a total transaction of $1,470,420.00. Following the transaction, the chief executive officer directly owned 388,044 shares of the company’s stock, valued at $17,461,980. This represents a 7.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 164,041 shares of company stock worth $5,727,636. Corporate insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. XXEC Inc. acquired a new stake in Heartflow in the 2nd quarter valued at $2,524,764,000. Wellington Management Group LLP boosted its stake in shares of 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. BlackRock Inc. bought a new position in shares of Heartflow in the 2nd quarter valued at about $152,502,000. Bamco Inc. NY acquired a new stake in shares of Heartflow in the second quarter valued at about $94,625,000. Finally, Jupiter Topco LLC bought a new stake in Heartflow during the second quarter worth about $70,983,000.

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.