Bank of New York Mellon Corp Makes New $19.10 Million Investment in Heartflow, Inc. $HTFL

Key Points

• Bank of New York Mellon purchased 650,849 Heartflow shares worth approximately $19.1 million, representing about 0.75% of the company. Several other institutional investors also added to or initiated positions.
• Heartflow reported quarterly revenue of $64.08 million, up 47.7% year over year, and a loss of $0.07 per share—better than the $0.22-per-share analyst consensus. The company remains unprofitable, with a negative net margin of 55.82%.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $43.43. However, insiders sold 191,271 shares worth $7.09 million during the last quarter, while HTFL opened at $50.39 near its 52-week high.

Bank of New York Mellon Corp bought a new stake in shares of Heartflow, Inc. (NASDAQ:HTFL - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 650,849 shares of the company's stock, valued at approximately $19,096,000. Bank of New York Mellon Corp owned approximately 0.75% of Heartflow at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. TrueMark Investments LLC boosted its holdings in shares of Heartflow by 1.4% during the first quarter. TrueMark Investments LLC now owns 26,885 shares of the company's stock worth $654,000 after purchasing an additional 379 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in Heartflow in the 4th quarter valued at approximately $27,000. Strs Ohio increased its stake in Heartflow by 35.3% in the 1st quarter. Strs Ohio now owns 4,600 shares of the company's stock valued at $112,000 after buying an additional 1,200 shares during the period. Russell Investments Group Ltd. purchased a new stake in Heartflow in the 4th quarter worth approximately $45,000. Finally, Legal & General Group Plc acquired a new stake in shares of Heartflow during the 3rd quarter valued at $59,000.

Insider Buying and Selling at Heartflow

In other Heartflow news, CEO John C.M. Farquhar sold 38,900 shares of the business's stock in a transaction on Wednesday, June 24th. The shares were 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 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 in the company, valued at $3,564,704.57. The trade was a 9.64% decrease in their ownership of the stock. 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. Insiders sold a total of 191,271 shares of company stock worth $7,089,136 in the last quarter. Insiders own 7.70% of the company's stock.

Heartflow Stock Performance

HTFL opened at $50.39 on Tuesday. The company has a market cap of $4.38 billion and a PE ratio of -27.54. The stock has a 50-day moving average of $32.58 and a 200-day moving average of $29.22. Heartflow, Inc. has a 52-week low of $20.13 and a 52-week high of $51.19.

Heartflow (NASDAQ:HTFL - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.22) by $0.15. The business 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%.Heartflow's revenue for the quarter was up 47.7% on a year-over-year basis. On average, research analysts predict that Heartflow, Inc. will post -0.75 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on HTFL shares. Weiss Ratings raised shares of Heartflow from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, August 7th. JPMorgan Chase & Co. lifted their price objective on Heartflow from $35.00 to $45.00 and gave the company an "overweight" rating in a research report on Friday, August 14th. Robert W. Baird set a $45.00 target price on Heartflow in a research note on Friday, August 14th. Morgan Stanley raised their price target on Heartflow from $35.00 to $40.00 and gave the stock an "equal weight" rating in a research note on Friday, August 14th. Finally, Piper Sandler reiterated an "overweight" rating and set a $45.00 price target (up from $38.00) on shares of Heartflow in a report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $43.43.

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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