Heartflow, Inc. (NASDAQ:HTFL) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts maintain a “Moderate Buy” consensus on Heartflow, with eight buy ratings, one strong buy, two holds and one sell. The average 12-month price target is $44.88, though several firms recently raised their targets to $45 and UBS initiated coverage with a $55 target and neutral rating.
• Heartflow shares opened at $49.88 after rising 9.7%, near their 52-week high of $51.78. The company reported a quarterly loss of $0.07 per share—better than the $0.22 expected—while revenue grew 47.7% year over year to $64.08 million.
• Company insiders have been selling shares: executives sold 208,765 shares worth approximately $8.44 million over the past 90 days, while insiders retain a 7.7% ownership stake.

Heartflow, Inc. (NASDAQ:HTFL - Get Free Report) has been given an average recommendation of "Moderate Buy" by the twelve brokerages that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $44.8750.

HTFL has been the topic of several research analyst reports. Stifel Nicolaus lifted their price objective 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 increased their target price on Heartflow from $35.00 to $40.00 and gave the company an "equal weight" rating in a report on Friday, August 14th. Canaccord Genuity Group raised their target price on Heartflow from $37.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. UBS Group initiated coverage on Heartflow in a research report on Wednesday. They set a "neutral" rating and a $55.00 price target on the stock. Finally, Robert W. Baird set a $45.00 price objective on Heartflow in a research note on Friday, August 14th.

Insider Activity

In other Heartflow news, CFO Vikram Verghese sold 27,540 shares of the company's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $49.69, for a total value of $1,368,462.60. Following the transaction, the chief financial officer owned 221,143 shares in the company, valued at approximately $10,988,595.67. This represents a 11.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Farquhar sold 38,900 shares of the stock in a transaction that occurred 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 sale, the chief executive officer owned 457,935 shares of the company's stock, valued at approximately $16,027,725. The trade was a 7.83% 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. Insiders have sold 208,765 shares of company stock worth $8,444,106 in the last 90 days. Company insiders own 7.70% of the company's stock.

Hedge Funds Weigh In On Heartflow

A number of hedge funds have recently modified their holdings of HTFL. Caitong International Asset Management Co. Ltd acquired a new stake in Heartflow during the fourth quarter valued at $27,000. Russell Investments Group Ltd. acquired a new position in Heartflow in the 4th quarter worth about $45,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Heartflow during the 2nd quarter worth about $53,000. Essential Partners LLC purchased a new stake in shares of Heartflow during the 1st quarter worth about $57,000. Finally, Legal & General Group Plc acquired a new stake in shares of Heartflow during the 3rd quarter valued at about $59,000.

Heartflow Trading Up 9.7%

HTFL stock opened at $49.88 on Friday. Heartflow has a one year low of $20.13 and a one year high of $51.78. The firm has a 50-day moving average of $35.52 and a two-hundred day moving average of $30.78. The firm has a market capitalization of $4.34 billion and a PE ratio of -27.26.

Heartflow (NASDAQ:HTFL - Get Free Report) last released its 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 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%. Heartflow's quarterly revenue was up 47.7% compared to the same quarter last year. On average, equities research analysts anticipate that Heartflow will post -0.75 earnings per share for the current year.

About Heartflow

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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