BlackRock Inc. Makes New $152.50 Million Investment in Heartflow, Inc. $HTFL

BlackRock Inc. acquired a new stake in Heartflow, Inc. (NASDAQ:HTFL - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 5,197,747 shares of the company's stock, valued at approximately $152,502,000. BlackRock Inc. owned 6.03% of Heartflow at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sei Investments Co. increased its position in shares of Heartflow by 342.5% in the first 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. Quantinno Capital Management LP bought a new stake in Heartflow in the first quarter valued at $1,734,000. Handelsbanken Fonder AB purchased a new position in Heartflow during the 2nd quarter valued at $910,000. Walleye Capital LLC purchased a new stake in shares of Heartflow in the 2nd quarter worth about $8,760,000. Finally, Royal Bank of Canada boosted its stake in shares of Heartflow by 24.4% during the 1st 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 in the last quarter.

Heartflow Stock Down 0.7%

Shares of NASDAQ HTFL opened at $47.78 on Friday. The firm has a market cap of $4.15 billion and a P/E ratio of -26.11. Heartflow, Inc. has a twelve month low of $20.13 and a twelve month high of $51.19. The company has a 50 day moving average of $32.25 and a 200 day moving average of $29.06.

Heartflow (NASDAQ:HTFL - Get Free Report) last issued its 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 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%.The company's revenue for the quarter was up 47.7% on a year-over-year basis. As a group, equities analysts expect that Heartflow, Inc. will post -0.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on HTFL shares. Freedom Capital upgraded shares of Heartflow to a "strong-buy" rating in a report on Tuesday, June 30th. Morgan Stanley increased their target price on Heartflow from $35.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Friday, August 14th. Wells Fargo & Company lifted their price target on Heartflow from $37.00 to $39.00 and gave the company an "overweight" rating in a research report on Friday, August 14th. Piper Sandler reissued an "overweight" rating and set a $45.00 price objective (up from $38.00) on shares of Heartflow in a research report on Friday, August 14th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Heartflow from $35.00 to $45.00 and gave the company an "overweight" rating in a report on Friday, August 14th. One 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 given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $43.43.

Insider Transactions at Heartflow

In other Heartflow news, CEO John C.M. 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 value of $1,361,500.00. Following the transaction, the chief executive officer directly owned 360,814 shares of the company's stock, valued at approximately $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 SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Campbell Rogers sold 9,219 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $41.23, for a total transaction of $380,099.37. Following the completion of the transaction, the insider directly owned 86,459 shares in the company, valued at approximately $3,564,704.57. The trade was 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. In the last ninety days, insiders have sold 191,271 shares of company stock worth $7,089,136. Insiders own 7.70% of the company's stock.

Heartflow 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.

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