Heartflow (NASDAQ:HTFL) Stock Bumped Up to "Buy" by Wall Street Zen

Key Points

• Wall Street Zen upgraded Heartflow to “Buy” from “Hold.” Analysts have a consensus “Moderate Buy” rating and an average price target of $46.25.
• Heartflow shares opened at $49.32, near their 52-week high of $52.22. The company recently reported a smaller-than-expected quarterly loss of $0.07 per share and 47.7% year-over-year revenue growth to $64.08 million.
• Insiders sold 287,767 shares worth approximately $12.9 million over the past 90 days, including sales by the CFO and another insider under pre-arranged trading plans.

Heartflow (NASDAQ:HTFL - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

HTFL has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their price objective on shares of Heartflow from $35.00 to $45.00 and gave the stock an "overweight" rating in a research note on Friday, August 14th. Morgan Stanley boosted their target price on shares of Heartflow from $35.00 to $40.00 and gave the company an "equal weight" rating in a research note on Friday, August 14th. Stifel Nicolaus increased their price target on shares of Heartflow from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, August 14th. Canaccord Genuity Group raised their price target on shares of Heartflow from $45.00 to $56.00 and gave the company a "buy" rating in a research report on Tuesday, September 22nd. Finally, Robert W. Baird set a $45.00 price objective on shares of Heartflow in a research report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $46.25.

Heartflow Stock Up 0.8%

Shares of HTFL stock opened at $49.32 on Friday. Heartflow has a 52-week low of $20.13 and a 52-week high of $52.22. The stock has a market cap of $4.29 billion, a PE ratio of -26.95 and a beta of 2.73. The business has a 50-day simple moving average of $42.57 and a 200-day simple moving average of $33.55.

Heartflow (NASDAQ:HTFL - Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.15. Heartflow had a negative return on equity of 23.52% and a negative net margin of 55.82%.The firm had revenue of $64.08 million for the quarter. The firm's revenue for the quarter was up 47.7% compared to the same quarter last year. Sell-side analysts anticipate that Heartflow will post -0.75 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Heartflow news, CFO Vikram Verghese sold 16,766 shares of the firm's stock in a transaction on Friday, September 18th. The stock was sold at an average price of $50.75, for a total value of $850,874.50. Following the transaction, the chief financial officer owned 155,183 shares in the company, valued at approximately $7,875,537.25. This trade represents a 9.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Campbell Rogers sold 19,682 shares of Heartflow stock in a transaction on Friday, September 18th. The stock was sold at an average price of $50.15, for a total transaction of $987,052.30. Following the sale, the insider directly owned 79,956 shares in the company, valued at approximately $4,009,793.40. This trade represents a 19.75% decrease in their position. 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 ninety days, insiders sold 287,767 shares of company stock worth $12,871,623. 7.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Heartflow

A number of hedge funds have recently modified their holdings of HTFL. Integrated Wealth Concepts LLC purchased a new stake in shares of Heartflow in the second quarter valued at about $53,000. Essential Partners LLC purchased a new stake in shares of Heartflow in the 1st quarter valued at approximately $57,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Heartflow during the 4th quarter valued at approximately $72,000. Strs Ohio lifted its holdings in Heartflow by 35.3% in the first quarter. Strs Ohio now owns 4,600 shares of the company's stock valued at $112,000 after acquiring an additional 1,200 shares during the last quarter. Finally, Bessemer Group Inc. purchased a new position in Heartflow in the first quarter worth approximately $126,000.

About Heartflow

HeartFlow, Inc is a medical technology company focused on improving the diagnosis and management of coronary artery disease. The company develops software and clinical tools that use artificial intelligence, advanced image analysis and data from coronary computed tomography angiography (CCTA) scans to provide noninvasive assessments of blood flow and potential blockages in the heart.

Its principal product is the HeartFlow Analysis, which creates a personalized, three-dimensional model of a patient's coronary arteries and can estimate the impact of blockages on blood flow.

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