XXEC Inc. Makes New Investment in Heartflow, Inc. $HTFL

Key Points

• XXEC Inc. acquired 77.27 million Heartflow shares worth approximately $2.52 billion, making up 1.3% of its portfolio and giving it an 89.6% ownership stake.
• Heartflow shares rose 6.3% to $49.75, near their 52-week high. Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $43.43.
• Heartflow exceeded quarterly EPS expectations, reporting a loss of $0.07 per share versus an expected loss of $0.22, while revenue increased 47.7% year over year to $64.08 million. However, insiders have sold 164,041 shares worth $5.7 million over the past 90 days.

XXEC Inc. acquired a new position in Heartflow, Inc. (NASDAQ:HTFL - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 77,270,845 shares of the company's stock, valued at approximately $2,524,764,000. Heartflow accounts for 1.3% of XXEC Inc.'s investment portfolio, making the stock its 5th biggest holding. XXEC Inc. owned 89.60% of Heartflow at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. TrueMark Investments LLC increased its position in Heartflow by 1.4% during the 1st quarter. TrueMark Investments LLC now owns 26,885 shares of the company's stock worth $654,000 after purchasing an additional 379 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in Heartflow during the fourth quarter worth approximately $27,000. Strs Ohio increased its position in shares of Heartflow by 35.3% in the first quarter. Strs Ohio now owns 4,600 shares of the company's stock worth $112,000 after acquiring an additional 1,200 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Heartflow in the fourth quarter worth $45,000. Finally, Legal & General Group Plc purchased a new position in shares of Heartflow in the 3rd quarter valued at $59,000.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HTFL. Stifel Nicolaus upped their price target on shares of Heartflow from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. William Blair began coverage on Heartflow in a research report on Monday, May 4th. They issued an "outperform" rating on the stock. Canaccord Genuity Group boosted their price objective on Heartflow from $37.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, August 14th. Benchmark reaffirmed a "buy" rating on shares of Heartflow in a research report on Friday, August 14th. Finally, Weiss Ratings upgraded Heartflow from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, August 7th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $43.43.

Heartflow Trading Up 6.3%

HTFL opened at $49.75 on Friday. Heartflow, Inc. has a twelve month low of $20.13 and a twelve month high of $50.48. The firm has a market cap of $4.33 billion and a price-to-earnings ratio of -27.19. The company has a fifty day simple moving average of $30.66 and a 200 day simple moving average of $28.32.

Heartflow (NASDAQ:HTFL - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, topping analysts' consensus estimates of ($0.22) by $0.15. The firm had revenue of $64.08 million for the quarter. Heartflow had a negative net margin of 55.82% and a negative return on equity of 23.52%. The company's quarterly revenue was up 47.7% on a year-over-year basis. On average, analysts forecast that Heartflow, Inc. will post -0.82 earnings per share for the current fiscal year.

Insider Transactions at Heartflow

In related news, CEO John C.M. Farquhar sold 32,676 shares of the stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $45.00, for a total value of $1,470,420.00. Following the completion of the transaction, the chief executive officer owned 388,044 shares of the company's stock, valued at approximately $17,461,980. This represents a 7.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Campbell Rogers sold 9,219 shares of the firm's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $41.23, for a total value of $380,099.37. Following the sale, the insider owned 86,459 shares of the company's stock, valued at approximately $3,564,704.57. This trade represents a 9.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 164,041 shares of company stock worth $5,727,636. 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.

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