Heartflow (NASDAQ:HTFL) Upgraded by UBS Group to Hold Rating

Key Points

• UBS Group upgraded Heartflow to a “Hold” rating, while the broader analyst consensus remains “Moderate Buy” with an average price target of $44.88.
• Heartflow shares rose 9.7% to open at $49.88, near their 12-month high of $51.78 and above the consensus price target.
• The company reported quarterly revenue of $64.08 million, up 47.7% year over year, and an adjusted loss of $0.07 per share that beat expectations by $0.15.

Heartflow (NASDAQ:HTFL - Get Free Report) was upgraded by research analysts at UBS Group to a "hold" rating in a report released on Wednesday, Zacks reports.

HTFL has been the subject of a number of other research reports. Morgan Stanley lifted 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. Wells Fargo & Company upped their target price on shares of Heartflow from $37.00 to $39.00 and gave the company an "overweight" rating in a report on Friday, August 14th. Canaccord Genuity Group boosted their price target on shares of Heartflow from $37.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, August 14th. Piper Sandler reaffirmed an "overweight" rating and set a $45.00 price objective (up from $38.00) on shares of Heartflow in a report on Friday, August 14th. Finally, Weiss Ratings upgraded shares of Heartflow from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $44.88.

Heartflow Trading Up 9.7%

Shares of NASDAQ HTFL opened at $49.88 on Wednesday. The stock has a market cap of $4.34 billion and a P/E ratio of -27.26. The business's fifty day simple moving average is $35.52 and its 200-day simple moving average is $30.78. Heartflow has a 12-month low of $20.13 and a 12-month high of $51.78.

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

Insider Activity

In other news, CEO John Farquhar sold 38,900 shares of Heartflow 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 completion of the transaction, the chief executive officer owned 457,935 shares of the company's stock, valued at $16,027,725. The trade was a 7.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Campbell Rogers sold 9,219 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $41.23, for a total transaction of $380,099.37. Following the completion of the sale, the insider directly owned 86,459 shares in the company, valued at approximately $3,564,704.57. The trade was a 9.64% 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. Insiders sold a total of 208,765 shares of company stock worth $8,444,106 over the last 90 days. 7.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. XXEC Inc. purchased a new stake in Heartflow in the 2nd quarter worth approximately $2,524,764,000. BlackRock Inc. acquired a new stake in shares of Heartflow during the second quarter worth $152,502,000. Wellington Management Group LLP acquired a new stake in shares of Heartflow during the third quarter worth $164,263,000. Bamco Inc. NY purchased a new stake in shares of Heartflow in the second quarter valued at $94,625,000. Finally, Jupiter Topco LLC acquired a new position in Heartflow in the second quarter valued at $70,983,000.

Heartflow Company Profile

Heartflow, Inc is a medical technology company that develops artificial intelligence and imaging solutions for the diagnosis and management of coronary artery disease. Its platform analyzes data from coronary computed tomography angiography (CCTA) scans to create personalized, three-dimensional models of a patient's coronary arteries.

The company's primary offering, Heartflow Analysis, is designed to provide noninvasive estimates of fractional flow reserve derived from computed tomography (FFR^CT).

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