Rock Springs Capital Management LP Has $13.93 Million Stock Position in Heartflow, Inc. $HTFL

Key Points

• Rock Springs Capital Management more than doubled its Heartflow stake in the first quarter, adding 294,800 shares to own 572,500 shares valued at approximately $13.93 million.
• Analysts remain broadly positive, with Heartflow holding a consensus “Moderate Buy” rating and a $37 price target, despite mixed recommendations ranging from “Strong Buy” to “Sell.”
• Heartflow reported quarterly revenue of $52.59 million, up 41.3% year over year, and an adjusted loss of $0.16 per share that beat estimates; however, insiders sold roughly $54.7 million of stock over the past 90 days.

Rock Springs Capital Management LP grew its stake in Heartflow, Inc. (NASDAQ:HTFL - Free Report) by 106.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 572,500 shares of the company's stock after purchasing an additional 294,800 shares during the period. Rock Springs Capital Management LP owned approximately 0.66% of Heartflow worth $13,929,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Heartflow in the 4th quarter valued at $27,000. Russell Investments Group Ltd. bought a new position in shares of Heartflow in the 4th quarter valued at about $45,000. Legal & General Group Plc acquired a new stake in shares of Heartflow during the 3rd quarter worth approximately $59,000. Strs Ohio bought a new stake in shares of Heartflow during the fourth quarter worth approximately $99,000. Finally, Bessemer Group Inc. bought a new stake in shares of Heartflow during the first quarter worth approximately $126,000.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HTFL. Wells Fargo & Company raised their price objective on shares of Heartflow from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Friday, May 15th. Piper Sandler reissued an "overweight" rating on shares of Heartflow in a research note on Thursday, June 11th. Weiss Ratings lowered Heartflow from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, July 8th. Freedom Capital raised Heartflow to a "strong-buy" rating in a research note on Tuesday, June 30th. Finally, Stifel Nicolaus set a $40.00 target price on Heartflow in a research note on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Heartflow presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.00.

Heartflow Stock Up 5.2%

HTFL opened at $25.37 on Tuesday. The stock has a market cap of $2.19 billion and a P/E ratio of -8.16. Heartflow, Inc. has a 12 month low of $20.13 and a 12 month high of $41.22. The company has a fifty day simple moving average of $29.24 and a 200 day simple moving average of $28.28.

Heartflow (NASDAQ:HTFL - Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.24) by $0.08. The business had revenue of $52.59 million for the quarter. The business's revenue for the quarter was up 41.3% compared to the same quarter last year. On average, equities research analysts expect that Heartflow, Inc. will post -0.82 earnings per share for the current fiscal year.

Insider Activity

In other Heartflow news, CEO John C.M. Farquhar sold 38,900 shares of Heartflow stock in a transaction that occurred on Wednesday, June 24th. The shares were sold at an average price of $35.00, for a total value of $1,361,500.00. Following the transaction, the chief executive officer owned 457,935 shares of the company's stock, valued at approximately $16,027,725. The trade was a 7.83% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Bain Capital Life Sciences Inv sold 948,757 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $29.23, for a total transaction of $27,732,167.11. Following the sale, the insider directly owned 8,448,158 shares of the company's stock, valued at $246,939,658.34. This represents a 10.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,861,695 shares of company stock worth $54,692,848 in the last 90 days. Corporate insiders own 7.70% of the company's stock.

Heartflow Company 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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