The Manufacturers Life Insurance Company Acquires New Position in Heartflow, Inc. $HTFL

Key Points

• The Manufacturers Life Insurance Company initiated a HeartFlow position worth approximately $1.14 million, while several other institutional investors also established new stakes during the second quarter.
• Analysts remain broadly positive, with an average “Moderate Buy” rating and a $43.43 price target. HeartFlow recently beat quarterly EPS expectations and reported 47.7% year-over-year revenue growth, though it remains unprofitable.
• HeartFlow shares opened at $48.91, near their 12-month high of $51.78. Insiders sold 224,687 shares worth about $8.75 million over the last quarter, including sales by the CEO and CFO under pre-arranged trading plans.

The Manufacturers Life Insurance Company bought a new position in shares of Heartflow, Inc. (NASDAQ:HTFL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 38,924 shares of the company's stock, valued at approximately $1,142,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of HTFL. Brandywine Managers LLC purchased a new stake in shares of Heartflow during the 2nd quarter worth approximately $294,000. Quantbot Technologies LP acquired a new position in Heartflow during the second quarter worth $1,207,000. XXEC Inc. purchased a new stake in Heartflow during the second quarter worth $2,524,764,000. Ieq Capital LLC acquired a new stake in Heartflow in the second quarter valued at $2,047,000. Finally, Lisanti Capital Growth LLC purchased a new position in shares of Heartflow in the second quarter valued at $5,565,000.

Analyst Ratings Changes

Several research analysts have recently issued reports on HTFL shares. 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. Canaccord Genuity Group raised their target price on shares of Heartflow from $37.00 to $45.00 and gave the company a "buy" rating in a report on Friday, August 14th. Benchmark reaffirmed a "buy" rating on shares of Heartflow in a report on Friday, August 14th. JPMorgan Chase & Co. increased their price target on shares of Heartflow from $35.00 to $45.00 and gave the company an "overweight" rating in a research report on Friday, August 14th. Finally, Wells Fargo & Company lifted their price objective on Heartflow from $37.00 to $39.00 and gave the stock an "overweight" rating in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $43.43.

Heartflow Price Performance

NASDAQ HTFL opened at $48.91 on Friday. The company has a 50-day moving average of $33.76 and a 200-day moving average of $29.92. Heartflow, Inc. has a 12 month low of $20.13 and a 12 month high of $51.78. The company has a market cap of $4.25 billion and a P/E ratio of -26.73.

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

Insider Transactions at Heartflow

In related news, CEO John Farquhar sold 27,230 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 360,814 shares of the company's stock, valued at approximately $18,040,700. This represents a 7.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vikram Verghese sold 27,540 shares of Heartflow stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $49.69, for a total transaction of $1,368,462.60. Following the transaction, the chief financial officer directly owned 221,143 shares in the company, valued at approximately $10,988,595.67. This trade represents a 11.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 224,687 shares of company stock worth $8,754,924. 7.70% of the stock is currently owned by company insiders.

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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