Heartflow (NASDAQ:HTFL) Stock Rating Cut to "Hold" at Wall Street Zen

Key Points

• Wall Street Zen downgraded Heartflow to “Hold” from “Buy,” although the broader analyst consensus remains “Moderate Buy” with a $46.25 average price target.
• Heartflow shares were trading down 5.1%, opening at $48.29, despite the company beating quarterly EPS expectations and reporting 47.7% year-over-year revenue growth to $64.08 million.
• Company insiders have sold 304,105 shares worth approximately $14.2 million over the past three months, including sales by the CEO and CFO under pre-arranged Rule 10b5-1 plans.

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

Several other analysts have also recently commented on HTFL. Canaccord Genuity Group lifted their price target on Heartflow from $45.00 to $56.00 and gave the company a "buy" rating in a report on Tuesday, September 22nd. Weiss Ratings raised shares of Heartflow from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of Heartflow from $35.00 to $45.00 and gave the company an "overweight" rating in a report on Friday, August 14th. Stifel Nicolaus upped 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. Finally, Freedom Capital raised shares of Heartflow to a "strong-buy" rating in a research note on Tuesday, June 30th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $46.25.

Heartflow Trading Down 5.1%

Heartflow stock opened at $48.29 on Friday. The stock has a 50-day moving average price of $47.26 and a 200 day moving average price of $35.26. Heartflow has a 52 week low of $20.13 and a 52 week high of $54.32.

Heartflow (NASDAQ:HTFL - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.22) by $0.15. Heartflow had a negative net margin of 55.82% and a negative return on equity of 23.52%. The company had revenue of $64.08 million for the quarter. The business's revenue for the quarter was up 47.7% on a year-over-year basis. As a group, equities research analysts expect that Heartflow will post -0.75 earnings per share for the current year.

Insider Activity

In other news, CEO John Farquhar sold 38,900 shares of the firm's stock in a transaction on Monday, October 12th. The shares were sold at an average price of $49.57, for a total value of $1,928,273.00. Following the transaction, the chief executive officer owned 283,014 shares of the company's stock, valued at approximately $14,029,003.98. This trade represents a 12.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vikram Verghese sold 29,714 shares of the company's stock in a transaction on Friday, September 11th. The stock was sold at an average price of $50.06, for a total transaction of $1,487,482.84. Following the sale, the chief financial officer directly owned 184,789 shares of the company's stock, valued at approximately $9,250,537.34. This trade represents a 13.85% decrease in their ownership of the stock. 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. Insiders have sold 304,105 shares of company stock valued at $14,173,800 in the last three months. Corporate insiders own 7.70% of the company's stock.

Institutional Investors Weigh In On Heartflow

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Heartflow by 75.1% during the third quarter. GAMMA Investing LLC now owns 641 shares of the company's stock valued at $32,000 after buying an additional 275 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in Heartflow in the 2nd quarter worth approximately $53,000. Essential Partners LLC acquired a new stake in Heartflow in the 1st quarter valued at approximately $57,000. Caitong International Asset Management Co. Ltd acquired a new stake in Heartflow in the 4th quarter valued at approximately $72,000. Finally, Valeo Financial Advisors LLC bought a new stake in Heartflow during the 3rd quarter valued at $213,000.

Heartflow Company Profile

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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