Squarepoint Ops LLC Has $2.55 Million Stake in Heartflow, Inc. $HTFL

Key Points

• Squarepoint Ops increased its Heartflow stake by 72% in the second quarter, holding 87,052 shares valued at approximately $2.55 million, or about 0.10% of the company.
• Heartflow reported quarterly revenue of $64.08 million, up 47.7% year over year, and an adjusted loss of $0.07 per share that beat analyst expectations. However, the company remains unprofitable, with a negative net margin of 55.82%.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $44.88. Meanwhile, insiders sold more than 208,000 shares worth $8.44 million over the past 90 days under pre-arranged trading plans.

Squarepoint Ops LLC raised its stake in Heartflow, Inc. (NASDAQ:HTFL - Free Report) by 72.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,052 shares of the company's stock after acquiring an additional 36,441 shares during the quarter. Squarepoint Ops LLC owned approximately 0.10% of Heartflow worth $2,554,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd acquired a new position in shares of Heartflow in the fourth quarter valued at approximately $27,000. Russell Investments Group Ltd. acquired a new position in Heartflow in the 4th quarter valued at approximately $45,000. Legal & General Group Plc bought a new position in shares of Heartflow during the third quarter valued at $59,000. Essential Partners LLC acquired a new position in shares of Heartflow during the first quarter worth $57,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in shares of Heartflow in the fourth quarter worth $131,000.

Insider Buying and Selling at Heartflow

In other news, CEO John 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 completion of the sale, the chief executive officer directly owned 360,814 shares in the company, valued at $18,040,700. This trade represents a 7.02% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vikram Verghese sold 6,640 shares of the business's stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $50.03, for a total value of $332,199.20. Following the completion of the sale, the chief financial officer directly owned 214,503 shares of the company's stock, valued at $10,731,585.09. The trade was a 3.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 208,765 shares of company stock valued at $8,444,106. Corporate insiders own 7.70% of the company's stock.

Heartflow Stock Performance

Shares of HTFL stock opened at $49.88 on Monday. Heartflow, Inc. has a fifty-two week low of $20.13 and a fifty-two week high of $51.78. The stock has a 50 day simple moving average of $35.52 and a two-hundred day simple moving average of $30.84. The company has a market cap of $4.34 billion and a P/E ratio of -27.26.

Heartflow (NASDAQ:HTFL - Get Free Report) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.15. The company had revenue of $64.08 million during the quarter. Heartflow had a negative net margin of 55.82% and a negative return on equity of 23.52%. The firm's revenue for the quarter was up 47.7% on a year-over-year basis. On average, research analysts predict that Heartflow, Inc. will post -0.75 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on HTFL shares. JPMorgan Chase & Co. raised their target price on Heartflow from $35.00 to $45.00 and gave the stock an "overweight" rating in a research report on Friday, August 14th. Robert W. Baird set a $45.00 price target on Heartflow in a research note on Friday, August 14th. Piper Sandler restated 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. Morgan Stanley upped their target price on Heartflow from $35.00 to $40.00 and gave the company an "equal weight" rating in a report on Friday, August 14th. Finally, UBS Group assumed coverage on shares of Heartflow in a research report on Wednesday. They set a "neutral" rating and a $55.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $44.88.

Heartflow Profile

Heartflow, Inc is a medical technology company that develops artificial intelligence and imaging solutions for the diagnosis and management of coronary artery disease. Its platform analyzes data from coronary computed tomography angiography (CCTA) scans to create personalized, three-dimensional models of a patient's coronary arteries.

The company's primary offering, Heartflow Analysis, is designed to provide noninvasive estimates of fractional flow reserve derived from computed tomography (FFR^CT).

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