Bank of America Corp DE Acquires 24,964 Shares of Heartflow, Inc. $HTFL

Key Points

• Institutional ownership increased: Bank of America raised its Heartflow stake by 28.8% to 111,702 shares, while several other institutions—including Janus Henderson and Rock Springs Capital—also significantly increased their positions.
• Heartflow reported improving operating momentum: Quarterly revenue rose 47.7% year over year to $64.08 million, and adjusted EPS of negative $0.07 beat estimates of negative $0.22, although the company remains unprofitable.
• Shares surged but insider selling continued: HTFL opened at $50.39 after gaining 5.5%, near its 12-month high, while analysts maintained a consensus “Moderate Buy” rating with an average $43.43 target. Insiders sold 191,271 shares worth $7.1 million in the last quarter under pre-arranged trading plans.

Bank of America Corp DE lifted its holdings in shares of Heartflow, Inc. (NASDAQ:HTFL - Free Report) by 28.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 111,702 shares of the company's stock after purchasing an additional 24,964 shares during the quarter. Bank of America Corp DE owned approximately 0.13% of Heartflow worth $2,718,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of HTFL. Quantinno Capital Management LP acquired a new position in shares of Heartflow during the 1st quarter valued at about $1,734,000. Sei Investments Co. lifted its holdings in Heartflow by 342.5% in the 1st quarter. Sei Investments Co. now owns 67,048 shares of the company's stock worth $1,631,000 after purchasing an additional 51,895 shares during the last quarter. Janus Henderson Group PLC boosted its position in Heartflow by 152.0% during the first quarter. Janus Henderson Group PLC now owns 2,180,976 shares of the company's stock worth $53,063,000 after purchasing an additional 1,315,416 shares during the period. Royal Bank of Canada grew its holdings in Heartflow by 24.4% during the first quarter. Royal Bank of Canada now owns 137,421 shares of the company's stock valued at $3,343,000 after purchasing an additional 26,912 shares during the last quarter. Finally, Rock Springs Capital Management LP grew its holdings in Heartflow by 106.2% during the first quarter. Rock Springs Capital Management LP now owns 572,500 shares of the company's stock valued at $13,929,000 after purchasing an additional 294,800 shares during the last quarter.

Heartflow Stock Up 5.5%

HTFL stock opened at $50.39 on Tuesday. Heartflow, Inc. has a twelve month low of $20.13 and a twelve month high of $51.19. The company has a market cap of $4.38 billion and a PE ratio of -27.54. The business's 50-day simple moving average is $32.58 and its 200 day simple moving average is $29.22.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on HTFL shares. Stifel Nicolaus upped their price objective on shares of Heartflow from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, August 14th. Wells Fargo & Company lifted their target price on shares of Heartflow from $37.00 to $39.00 and gave the stock an "overweight" rating in a report on Friday, August 14th. Weiss Ratings raised shares of Heartflow from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, August 7th. William Blair assumed coverage on Heartflow in a research note on Monday, May 4th. They issued an "outperform" rating on the stock. Finally, Morgan Stanley boosted their price objective on Heartflow from $35.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Heartflow currently has a consensus rating of "Moderate Buy" and an average target price of $43.43.

Insiders Place Their Bets

In other Heartflow news, CEO John C.M. Farquhar sold 27,230 shares of the business's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $50.00, for a total value 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. The trade was a 7.02% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 the stock in a transaction on 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 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 191,271 shares of company stock worth $7,089,136 in the last quarter. Corporate insiders own 7.70% of the company's stock.

Heartflow Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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