Heartflow (NASDAQ:HTFL) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Heartflow to “buy” from “hold,” adding to a broadly positive analyst consensus. MarketBeat reports an average rating of “Moderate Buy” and an average price target of $48.62.
• Heartflow shares opened at $56.71, near their 52-week high of $57.74, with a market capitalization of approximately $4.93 billion. The company’s latest quarterly revenue rose 47.7% year over year to $64.08 million, while its loss of $0.07 per share beat estimates.
• Company insiders sold 304,105 shares worth about $14.2 million over the past 90 days, including sales by the CEO and CFO under pre-arranged Rule 10b5-1 plans.

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

A number of other equities analysts have also issued reports on the stock. Canaccord Genuity Group raised their target price on shares of Heartflow from $45.00 to $56.00 and gave the stock a "buy" rating in a research report on Tuesday, September 22nd. Stifel Nicolaus upped their price target on shares of Heartflow from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, August 14th. Morgan Stanley increased 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. Piper Sandler reissued an "overweight" rating and set a $64.00 price objective (up from $45.00) on shares of Heartflow in a research report on Tuesday. Finally, Weiss Ratings upgraded shares of Heartflow from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $48.62.

Heartflow Stock Up 2.3%

Shares of NASDAQ HTFL opened at $56.71 on Friday. The business has a 50-day moving average price of $49.52 and a 200 day moving average price of $36.33. The stock has a market cap of $4.93 billion, a PE ratio of -30.99 and a beta of 2.73. Heartflow has a 52-week low of $20.13 and a 52-week high of $57.74.

Heartflow (NASDAQ:HTFL - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business's revenue was up 47.7% on a year-over-year basis. Sell-side analysts anticipate that Heartflow will post -0.75 earnings per share for the current year.

Insider Transactions at Heartflow

In related news, CEO John Farquhar sold 38,900 shares of the stock in a transaction on Monday, October 12th. The stock was sold at an average price of $49.57, for a total transaction of $1,928,273.00. Following the completion of the sale, the chief executive officer directly owned 283,014 shares of the company's stock, valued at $14,029,003.98. This trade represents a 12.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vikram Verghese sold 16,766 shares of Heartflow stock in a transaction on Friday, September 18th. The shares were sold at an average price of $50.75, for a total transaction of $850,874.50. Following the completion of 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 304,105 shares of company stock worth $14,173,800 over the last 90 days. 7.70% of the stock is currently owned by insiders.

Institutional Trading of Heartflow

Hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Heartflow by 75.1% in the 3rd 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 period. IFP Advisors Inc grew its holdings in Heartflow by 844.7% during the third quarter. IFP Advisors Inc now owns 803 shares of the company's stock worth $40,000 after acquiring an additional 718 shares during the period. Strs Ohio grew its holdings in Heartflow by 35.3% during the first quarter. Strs Ohio now owns 4,600 shares of the company's stock worth $112,000 after acquiring an additional 1,200 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Heartflow in the second quarter worth $53,000. Finally, Mayport LLC raised its position in Heartflow by 20.0% in the second quarter. Mayport LLC now owns 12,000 shares of the company's stock worth $352,000 after acquiring an additional 2,000 shares in the last quarter.

About Heartflow

Heartflow, Inc is a medical technology company that develops artificial intelligence-based tools to help physicians diagnose and manage coronary artery disease. Its platform uses data from coronary computed tomography angiography (CCTA) scans to create personalized, three-dimensional models of a patient's coronary arteries and provide noninvasive assessments of blood flow and disease.

The company's products include Heartflow Analysis, which provides fractional flow reserve computed tomography (FFR-CT) evaluations to help identify potentially significant blockages, as well as tools for assessing coronary plaque and planning treatment.

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