49,666 Shares in Heartflow, Inc. $HTFL Purchased by Corient Private Wealth LP

Key Points

• Corient Private Wealth LP purchased 49,666 Heartflow shares worth approximately $1.46 million, giving it a 0.06% stake. Several other major institutional investors also initiated positions during recent quarters.
• Heartflow insiders sold 191,271 shares worth about $7.09 million over the past 90 days, including CEO John Farquhar’s $1.36 million sale under a pre-arranged trading plan.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $43.43. The company reported better-than-expected quarterly losses and $64.08 million in revenue, up 47.7% year over year, though it remains unprofitable.

Corient Private Wealth LP bought a new stake in shares of Heartflow, Inc. (NASDAQ:HTFL - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 49,666 shares of the company's stock, valued at approximately $1,457,000. Corient Private Wealth LP owned 0.06% of Heartflow at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. XXEC Inc. purchased a new position in Heartflow during the 2nd quarter valued at $2,524,764,000. BlackRock Inc. bought a new stake in shares of Heartflow during the second quarter worth $152,502,000. Wellington Management Group LLP purchased a new stake in shares of Heartflow during the third quarter valued at $164,263,000. Bamco Inc. NY purchased a new position in Heartflow in the 2nd quarter worth about $94,625,000. Finally, Jupiter Topco LLC bought a new stake in Heartflow during the 2nd quarter valued at about $70,983,000.

Insiders Place Their Bets

In related news, CEO John Farquhar sold 27,230 shares of the firm's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $50.00, for a total transaction of $1,361,500.00. Following the sale, the chief executive officer owned 360,814 shares of the company's stock, valued at $18,040,700. This trade represents a 7.02% 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, insider Campbell Rogers sold 9,219 shares of Heartflow stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $41.23, for a total value of $380,099.37. Following the completion of the transaction, the insider owned 86,459 shares in the company, valued at $3,564,704.57. This trade represents a 9.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 191,271 shares of company stock valued at $7,089,136. 7.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Benchmark restated a "buy" rating on shares of Heartflow in a research note on Friday, August 14th. Piper Sandler reissued an "overweight" rating and issued a $45.00 price objective (up from $38.00) on shares of Heartflow in a research note on Friday, August 14th. Wells Fargo & Company raised their price objective on Heartflow from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Friday, August 14th. Canaccord Genuity Group lifted their target price on Heartflow from $37.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, August 14th. Finally, JPMorgan Chase & Co. upped their target price on Heartflow from $35.00 to $45.00 and gave the stock an "overweight" rating in a report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Heartflow has an average rating of "Moderate Buy" and an average price target of $43.43.

Heartflow Stock Performance

NASDAQ HTFL opened at $49.71 on Friday. Heartflow, Inc. has a one year low of $20.13 and a one year high of $51.78. The company has a market capitalization of $4.32 billion and a price-to-earnings ratio of -27.16. The company's 50-day simple moving average is $33.50 and its two-hundred day simple moving average is $29.79.

Heartflow (NASDAQ:HTFL - Get Free Report) last announced 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 firm had revenue of $64.08 million during the quarter. Heartflow had a negative net margin of 55.82% and a negative return on equity of 23.52%. The firm's revenue was up 47.7% on a year-over-year basis. Equities analysts expect that Heartflow, Inc. will post -0.75 earnings per share for the current fiscal year.

About Heartflow

HeartFlow, Inc NASDAQ: HTFL is a medical technology company that develops non-invasive diagnostic solutions for coronary artery disease. The company's core offering translates coronary CT angiography (CTA) data into a patient-specific, three-dimensional physiological model of the coronary arteries. Using advanced image processing and computational modeling, HeartFlow's analysis estimates fractional flow reserve (FFR) values throughout the coronary tree to identify ischemia-producing lesions without the need for invasive pressure-wire measurements.

HeartFlow's cloud-based service integrates with clinical workflows: clinicians submit coronary CTA images and receive a detailed, color-coded 3D map and report that highlights lesion-specific FFR values and physiological impact.

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