JPMorgan Chase & Co. Buys New Position in Heartflow, Inc. $HTFL

Key Points

• JPMorgan Chase purchased a new position of 412,565 HeartFlow shares in Q3 worth about $13.9 million, representing roughly 0.48% of the company.
• Insiders have been net sellers recently: Bain Capital Life Sciences sold 2,000,000 shares for $56.1 million, and insiders disposed of 2,191,932 shares totaling about $60.95 million over the last 90 days.
• Analysts are mixed but lean positive with a “Moderate Buy” consensus and an average price target of $37.67—substantially above the recent share price near $24.69—while individual targets range from $35 to $43.

JPMorgan Chase & Co. purchased a new position in shares of Heartflow, Inc. (NASDAQ:HTFL - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 412,565 shares of the company's stock, valued at approximately $13,887,000. JPMorgan Chase & Co. owned approximately 0.48% of Heartflow at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. TFC Financial Management Inc. purchased a new position in Heartflow during the 3rd quarter worth $40,000. Legal & General Group Plc purchased a new position in Heartflow during the third quarter worth about $59,000. Y Intercept Hong Kong Ltd bought a new stake in Heartflow in the 3rd quarter worth about $234,000. Legato Capital Management LLC purchased a new stake in Heartflow in the 3rd quarter valued at about $243,000. Finally, Sandia Investment Management LP purchased a new position in shares of Heartflow in the 3rd quarter worth approximately $252,000.

Insider Transactions at Heartflow

In related news, insider Campbell Rogers sold 65,153 shares of Heartflow stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $24.49, for a total value of $1,595,596.97. Following the completion of the sale, the insider owned 76,034 shares of the company's stock, valued at approximately $1,862,072.66. This trade represents a 46.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Bain Capital Life Sciences Inv sold 2,000,000 shares of the business's stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $28.05, for a total value of $56,100,000.00. Following the completion of the sale, the insider owned 10,448,158 shares in the company, valued at $293,070,831.90. This represents a 16.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,191,932 shares of company stock worth $60,953,624 over the last 90 days.

Analysts Set New Price Targets

A number of analysts recently commented on HTFL shares. Wells Fargo & Company dropped their price target on Heartflow from $38.00 to $35.00 and set an "overweight" rating on the stock in a report on Thursday, March 19th. Weiss Ratings restated a "sell (d)" rating on shares of Heartflow in a research note on Monday, December 29th. JPMorgan Chase & Co. lowered their target price on Heartflow from $40.00 to $35.00 and set an "overweight" rating on the stock in a research note on Thursday, March 19th. Finally, Canaccord Genuity Group boosted their price target on shares of Heartflow from $40.00 to $43.00 and gave the stock a "buy" rating in a report on Thursday, March 19th. Five analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $37.67.

Heartflow Trading Down 4.6%

Shares of NASDAQ HTFL opened at $24.69 on Friday. The stock has a fifty day simple moving average of $26.08 and a two-hundred day simple moving average of $30.21. Heartflow, Inc. has a 1-year low of $20.13 and a 1-year high of $41.22. The firm has a market cap of $2.12 billion and a price-to-earnings ratio of -12.41.

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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