Heartflow, Inc. (NASDAQ:HTFL) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Heartflow has a consensus analyst rating of “Moderate Buy” from 10 brokerages, with an average 12-month price target of $37.00.
• The company’s latest quarterly results beat expectations, posting an EPS loss of ($0.16) versus the expected ($0.24), while revenue rose 41.3% year over year to $52.59 million.
• Insider selling has been notable, including CEO John C.M. Farquhar selling shares in a pre-arranged plan and major shareholder Bain Capital Life Sciences also reducing its stake.

Shares of Heartflow, Inc. (NASDAQ:HTFL - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the ten ratings firms that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $37.00.

HTFL has been the subject of a number of recent analyst reports. Canaccord Genuity Group decreased their price objective on Heartflow from $43.00 to $37.00 and set a "buy" rating for the company in a report on Friday, May 15th. Weiss Ratings lowered Heartflow from a "sell (d-)" rating to a "sell (e+)" rating in a research report on Wednesday, July 8th. Wells Fargo & Company increased their price target on Heartflow from $35.00 to $37.00 and gave the stock an "overweight" rating in a research note on Friday, May 15th. Stifel Nicolaus set a $40.00 price target on Heartflow in a report on Wednesday, July 15th. Finally, Piper Sandler reaffirmed an "overweight" rating on shares of Heartflow in a report on Thursday, June 11th.

Heartflow Stock Up 1.6%

HTFL stock opened at $24.61 on Friday. The stock has a market cap of $2.12 billion and a PE ratio of -7.91. The firm's 50-day simple moving average is $29.33 and its 200 day simple moving average is $28.37. Heartflow has a fifty-two week low of $20.13 and a fifty-two week high of $41.22.

Heartflow (NASDAQ:HTFL - Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.24) by $0.08. The firm had revenue of $52.59 million for the quarter. The firm's revenue for the quarter was up 41.3% compared to the same quarter last year. Equities analysts forecast that Heartflow will post -0.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO John C.M. Farquhar sold 22,562 shares of the company's stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $27.75, for a total value of $626,095.50. Following the completion of the sale, the chief executive officer directly owned 435,373 shares of the company's stock, valued at approximately $12,081,600.75. This represents a 4.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Bain Capital Life Sciences Inv sold 948,757 shares of the firm's stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $29.23, for a total transaction of $27,732,167.11. Following the transaction, the insider owned 8,448,158 shares in the company, valued at $246,939,658.34. This represents a 10.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 2,115,805 shares of company stock worth $62,445,744. 7.70% of the stock is owned by corporate insiders.

Institutional Trading of Heartflow

A number of hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. acquired a new position in Heartflow during the third quarter worth about $13,887,000. Seven Grand Managers LLC boosted its position in shares of Heartflow by 100.0% during the 4th quarter. Seven Grand Managers LLC now owns 100,000 shares of the company's stock valued at $2,915,000 after purchasing an additional 50,000 shares in the last quarter. UBS Group AG grew its stake in shares of Heartflow by 228.8% in the 4th quarter. UBS Group AG now owns 501,165 shares of the company's stock worth $14,609,000 after purchasing an additional 348,753 shares during the last quarter. XXEC Inc. grew its stake in shares of Heartflow by 564.8% in the 1st quarter. XXEC Inc. now owns 278,681 shares of the company's stock worth $6,780,000 after purchasing an additional 236,761 shares during the last quarter. Finally, Bcwm LLC bought a new stake in shares of Heartflow in the 4th quarter worth approximately $908,000.

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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