TD Asset Management Inc Buys Shares of 79,962 Heartflow, Inc. $HTFL

Key Points

• TD Asset Management bought a new stake of 79,962 shares of HeartFlow (~$2.69 million), representing about 0.10% ownership at the end of the quarter.
• Analysts have been raising price targets toward the ~$40 level and the stock has an average target of $38.50, with consensus ratings of five Buys, two Holds and one Sell ("Moderate Buy").
• Major insiders have been selling shares, notably Bain Capital Life Sciences offloading 2,000,000 shares for roughly $56.1 million, and insiders have sold about 2,095,715 shares (~$58.5 million) over the past three months.

TD Asset Management Inc purchased a new position in Heartflow, Inc. (NASDAQ:HTFL - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 79,962 shares of the company's stock, valued at approximately $2,692,000. TD Asset Management Inc owned about 0.10% of Heartflow at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. TFC Financial Management Inc. bought a new stake in Heartflow in the 3rd quarter worth about $40,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Heartflow in the third quarter worth approximately $234,000. TrueMark Investments LLC purchased a new position in shares of Heartflow during the third quarter valued at approximately $918,000. Lisanti Capital Growth LLC bought a new position in Heartflow during the third quarter valued at approximately $982,000. Finally, New York State Common Retirement Fund purchased a new stake in Heartflow in the third quarter worth approximately $4,015,000.

Heartflow Stock Up 0.3%

HTFL stock opened at $23.93 on Thursday. The business's 50-day moving average price is $28.68 and its 200-day moving average price is $31.05. The stock has a market cap of $2.04 billion and a P/E ratio of -13.22. Heartflow, Inc. has a twelve month low of $20.13 and a twelve month high of $41.22.

Analysts Set New Price Targets

A number of brokerages have weighed in on HTFL. Canaccord Genuity Group boosted their target price on shares of Heartflow from $39.00 to $40.00 and gave the company a "buy" rating in a research note on Thursday, November 13th. Stifel Nicolaus lifted their price objective on Heartflow from $35.00 to $40.00 and gave the stock a "buy" rating in a report on Thursday, November 13th. JPMorgan Chase & Co. increased their target price on Heartflow from $36.00 to $40.00 and gave the company an "overweight" rating in a report on Thursday, November 13th. Weiss Ratings restated a "sell (d)" rating on shares of Heartflow in a research note on Monday, December 29th. Finally, Wells Fargo & Company initiated coverage on shares of Heartflow in a research note on Wednesday, January 28th. They issued an "overweight" rating and a $38.00 price objective on the stock. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $38.50.

Insider Buying and Selling at Heartflow

In related news, major shareholder Bain Capital Life Sciences Inv sold 2,000,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $28.05, for a total transaction of $56,100,000.00. Following the completion of the transaction, the insider directly owned 10,448,158 shares of the company's stock, valued at approximately $293,070,831.90. This represents a 16.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Campbell Rogers sold 65,153 shares of the stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $24.49, for a total transaction of $1,595,596.97. Following the transaction, the insider owned 76,034 shares of the company's stock, valued at $1,862,072.66. This trade represents a 46.15% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 2,095,715 shares of company stock valued at $58,533,709.

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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