Ieq Capital LLC Takes $2.05 Million Position in Heartflow, Inc. $HTFL

Key Points

• Ieq Capital LLC acquired 69,778 Heartflow shares worth approximately $2.05 million, joining several other institutional investors that recently initiated positions.
• Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $43.43, despite HTFL trading at $49.89.
• Heartflow exceeded quarterly EPS expectations, reporting a loss of $0.07 per share versus the expected $0.22 loss, while revenue rose 47.7% year over year to $64.08 million; insiders have sold 191,271 shares over the past 90 days.

Ieq Capital LLC purchased a new position in Heartflow, Inc. (NASDAQ:HTFL - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 69,778 shares of the company's stock, valued at approximately $2,047,000. Ieq Capital LLC owned 0.08% of Heartflow at the end of the most recent quarter.

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

Analysts Set New Price Targets

A number of analysts have recently commented on HTFL shares. Canaccord Genuity Group boosted their target price on shares of Heartflow from $37.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. Freedom Capital upgraded Heartflow to a "strong-buy" rating in a report on Tuesday, June 30th. Robert W. Baird set a $45.00 price objective on Heartflow in a research note on Friday, August 14th. Piper Sandler restated an "overweight" rating and issued a $45.00 target price (up from $38.00) on shares of Heartflow in a research report on Friday, August 14th. Finally, Morgan Stanley lifted 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. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Heartflow has a consensus rating of "Moderate Buy" and a consensus target price of $43.43.

Heartflow Price Performance

HTFL opened at $49.89 on Wednesday. The firm has a market capitalization of $4.34 billion and a price-to-earnings ratio of -27.26. The company's 50 day simple moving average is $31.36 and its two-hundred day simple moving average is $28.63. Heartflow, Inc. has a 1-year low of $20.13 and a 1-year high of $51.19.

Heartflow (NASDAQ:HTFL - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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. The business's revenue was up 47.7% compared to the same quarter last year. On average, equities analysts anticipate that Heartflow, Inc. will post -0.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Heartflow

In other news, CEO John C.M. Farquhar sold 27,230 shares of the business's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $50.00, for a total transaction of $1,361,500.00. Following the transaction, the chief executive officer owned 360,814 shares of the company's stock, valued at approximately $18,040,700. The trade was a 7.02% decrease in their position. The sale 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, insider Campbell Rogers sold 9,219 shares of the company's stock in a transaction dated 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 sale, the insider directly owned 86,459 shares of the company's stock, valued at $3,564,704.57. This represents a 9.64% 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. Over 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.

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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