XXEC Inc. Has $6.78 Million Stock Position in Heartflow, Inc. $HTFL

Key Points

• XXEC Inc. boosted its Heartflow stake by 564.8% in the first quarter, ending with 278,681 shares worth about $6.78 million and making HTFL its 18th-largest holding.
• Heartflow has drawn mixed but mostly positive analyst sentiment. The stock currently carries a consensus "Moderate Buy" rating, with an average price target of $37.00 after recent updates from firms including William Blair, Wells Fargo, Piper Sandler, and JPMorgan.
• The company beat earnings expectations and posted strong revenue growth. In its latest quarter, Heartflow reported a smaller-than-expected loss of $0.16 per share and revenue of $52.59 million, up 41.3% year over year.

XXEC Inc. raised its position in Heartflow, Inc. (NASDAQ:HTFL - Free Report) by 564.8% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 278,681 shares of the company's stock after acquiring an additional 236,761 shares during the period. Heartflow makes up about 1.3% of XXEC Inc.'s holdings, making the stock its 18th largest position. XXEC Inc. owned 0.32% of Heartflow worth $6,780,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wellington Management Group LLP lifted its holdings in shares of Heartflow by 20.8% in the 4th quarter. Wellington Management Group LLP now owns 5,894,070 shares of the company's stock worth $171,812,000 after purchasing an additional 1,014,006 shares in the last quarter. Bamco Inc. NY increased its stake in Heartflow by 86.2% during the 4th quarter. Bamco Inc. NY now owns 2,303,877 shares of the company's stock valued at $67,158,000 after purchasing an additional 1,066,371 shares in the last quarter. Schusterman Interests LLC acquired a new position in Heartflow during the third quarter worth $65,274,000. Capricorn Investment Group LLC bought a new position in shares of Heartflow in the fourth quarter valued at $48,178,000. Finally, Vanguard Group Inc. grew its holdings in shares of Heartflow by 8.8% during the fourth quarter. Vanguard Group Inc. now owns 1,580,313 shares of the company's stock valued at $46,066,000 after buying an additional 128,400 shares during the last quarter.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. William Blair assumed coverage on shares of Heartflow in a research report on Monday, May 4th. They set an "outperform" rating for the company. Wells Fargo & Company lifted their price target on 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 report on Thursday, June 11th. Weiss Ratings raised Heartflow from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, June 12th. Finally, JPMorgan Chase & Co. cut their target price on Heartflow from $40.00 to $35.00 and set an "overweight" rating on the stock in a research report on Thursday, March 19th. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Heartflow presently has a consensus rating of "Moderate Buy" and an average target price of $37.00.

Heartflow Price Performance

Shares of HTFL stock opened at $29.34 on Wednesday. The firm has a 50-day moving average of $30.75 and a 200-day moving average of $28.67. Heartflow, Inc. has a one year low of $20.13 and a one year high of $41.22. The company has a market cap of $2.53 billion and a P/E ratio of -9.43.

Heartflow (NASDAQ:HTFL - Get Free Report) last released its quarterly 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 firm had revenue of $52.59 million for the quarter. The business's revenue was up 41.3% compared to the same quarter last year. As a group, research analysts expect that Heartflow, Inc. will post -0.82 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO John C.M. Farquhar sold 38,900 shares of the company's stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $35.00, for a total value of $1,361,500.00. Following the completion of the transaction, the chief executive officer directly owned 457,935 shares of the company's stock, valued at $16,027,725. This represents a 7.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Campbell Rogers sold 9,219 shares of Heartflow stock in a transaction on Monday, May 18th. The stock was sold at an average price of $28.34, for a total value of $261,266.46. Following the sale, the insider owned 78,731 shares in the company, valued at $2,231,236.54. This trade represents a 10.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 2,115,805 shares of company stock valued at $62,422,505 over the last three months. Corporate insiders own 7.70% of the company's stock.

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.

Want to see what other hedge funds are holding HTFL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Heartflow, Inc. (NASDAQ:HTFL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.