Bamco Inc. NY Invests $94.62 Million in Heartflow, Inc. $HTFL

Key Points

• Bamco Inc. NY acquired a new 3.23 million-share stake in Heartflow valued at approximately $94.6 million, representing 3.74% of the company. Several other institutional investors also initiated positions.
• Heartflow reported quarterly revenue of $64.08 million, up 47.7% year over year, and adjusted its loss to $0.07 per share versus analysts’ expected $0.22 loss. Despite the improvement, the company posted a negative net margin of 55.82%.
• Analysts maintain a generally positive outlook, with an average “Moderate Buy” rating and a $43.43 price target, while HTFL shares recently traded at $48.94. Insiders have sold 191,271 shares worth roughly $7.1 million over the past 90 days.

Bamco Inc. NY acquired a new position in Heartflow, Inc. (NASDAQ:HTFL - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,225,133 shares of the company's stock, valued at approximately $94,625,000. Bamco Inc. NY owned 3.74% of Heartflow as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new position in shares of Heartflow in the fourth quarter valued at about $27,000. Russell Investments Group Ltd. bought a new stake in Heartflow in the fourth quarter worth $45,000. Essential Partners LLC bought a new position in shares of Heartflow in the 1st quarter valued at about $57,000. Legal & General Group Plc bought a new stake in shares of Heartflow in the 3rd quarter valued at approximately $59,000. Finally, Strs Ohio purchased a new position in shares of Heartflow in the 4th quarter worth approximately $99,000.

Heartflow Trading Down 1.9%

Shares of NASDAQ:HTFL opened at $48.94 on Thursday. The company has a market capitalization of $4.26 billion and a PE ratio of -26.74. The business has a 50 day moving average of $31.68 and a two-hundred day moving average of $28.79. Heartflow, Inc. has a 12-month low of $20.13 and a 12-month high of $51.19.

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on HTFL shares. Weiss Ratings upgraded Heartflow from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, August 7th. Morgan Stanley raised 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. 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. Benchmark reiterated a "buy" rating on shares of Heartflow in a research note on Friday, August 14th. Finally, Robert W. Baird set a $45.00 target price on shares of Heartflow in a report on Friday, August 14th. 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $43.43.

Insider Activity

In related news, insider Campbell Rogers sold 9,219 shares of the company's stock in a transaction dated Monday, August 17th. The stock was 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 of the company's stock, valued at approximately $3,564,704.57. This represents a 9.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John C.M. 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 value of $1,361,500.00. Following the transaction, the chief executive officer owned 457,935 shares in the company, valued at $16,027,725. This represents a 7.83% decrease in their position. 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. In the last 90 days, insiders sold 191,271 shares of company stock valued at $7,089,136. 7.70% of the stock is owned by company insiders.

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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