Handelsbanken Fonder AB Makes New Investment in Heartflow, Inc. $HTFL

Key Points

• Handelsbanken Fonder AB initiated a Heartflow position of 31,000 shares valued at approximately $910,000 in the second quarter, while several other institutional investors also opened stakes.
• 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 loss of $0.22.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $43.43, although insiders sold 131,365 shares worth $4.26 million over the past three months.

Handelsbanken Fonder AB purchased a new position in 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 purchased 31,000 shares of the company's stock, valued at approximately $910,000.

Several other institutional investors also recently modified their holdings of the business. Caitong International Asset Management Co. Ltd purchased a new position in Heartflow in the 4th quarter worth about $27,000. Russell Investments Group Ltd. purchased a new stake in shares of Heartflow during the 4th quarter valued at about $45,000. Legal & General Group Plc bought a new stake in shares of Heartflow in the third quarter worth approximately $59,000. Essential Partners LLC bought a new stake in shares of Heartflow in the first quarter worth approximately $57,000. Finally, Strs Ohio purchased a new position in shares of Heartflow during the fourth quarter valued at approximately $99,000.

Insider Activity at Heartflow

In related news, insider Campbell Rogers sold 9,219 shares of the stock in a transaction that occurred on 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 sale, the insider directly 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 legal 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, CEO John C.M. Farquhar sold 15,560 shares of the firm's stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $39.06, for a total transaction of $607,773.60. Following the sale, the chief executive officer owned 420,720 shares in the company, valued at approximately $16,433,323.20. The trade was a 3.57% 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. Insiders sold a total of 131,365 shares of company stock valued at $4,257,216 over the last three months. 7.70% of the stock is currently owned by insiders.

Heartflow Stock Performance

Shares of Heartflow stock opened at $45.53 on Thursday. The stock has a market cap of $3.96 billion and a P/E ratio of -24.88. The stock's fifty day moving average is $30.00 and its 200 day moving average is $28.05. Heartflow, Inc. has a one year low of $20.13 and a one year high of $47.23.

Heartflow (NASDAQ:HTFL - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.15. Heartflow had a negative return on equity of 23.52% and a negative net margin of 55.82%.The business had revenue of $64.08 million during the quarter. Heartflow's revenue was up 47.7% compared to the same quarter last year. Analysts predict that Heartflow, Inc. will post -0.82 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on HTFL shares. Freedom Capital upgraded Heartflow to a "strong-buy" rating in a research note on Tuesday, June 30th. Piper Sandler reissued an "overweight" rating and issued a $45.00 target price (up from $38.00) on shares of Heartflow in a report on Friday, August 14th. JPMorgan Chase & Co. boosted their price target on Heartflow from $35.00 to $45.00 and gave the company an "overweight" rating in a research note on Friday, August 14th. Stifel Nicolaus upped their price target on shares of Heartflow from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, August 14th. Finally, Robert W. Baird set a $45.00 price objective on shares of Heartflow in a 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 given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company 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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