Heartflow (NASDAQ:HTFL) Given New $45.00 Price Target at Stifel Nicolaus

Key Points

• Stifel Nicolaus raised Heartflow’s price target from $40 to $45 while maintaining a “buy” rating, implying about 45% upside from the reported $31.01 share price.
• Heartflow reported quarterly EPS of negative $0.07, beating the consensus estimate of negative $0.22, while revenue rose 47.7% year over year to $64.08 million.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $37.29, although insiders have sold 115,805 shares worth approximately $3.53 million over the past three months.

Heartflow (NASDAQ:HTFL - Get Free Report) had its price objective raised by investment analysts at Stifel Nicolaus from $40.00 to $45.00 in a report issued on Friday,Benzinga reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' price objective would suggest a potential upside of 45.11% from the company's current price.

Other research analysts have also issued reports about the company. William Blair initiated coverage on Heartflow in a report on Monday, May 4th. They set an "outperform" rating for the company. Canaccord Genuity Group lowered their price objective on shares of Heartflow from $43.00 to $37.00 and set a "buy" rating on the stock in a research note on Friday, May 15th. Piper Sandler reaffirmed an "overweight" rating on shares of Heartflow in a research report on Thursday, June 11th. Robert W. Baird began coverage on shares of Heartflow in a research note on Friday, July 31st. They set an "outperform" rating and a $34.00 target price for the company. Finally, Weiss Ratings upgraded shares of Heartflow from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $37.29.

Heartflow Stock Performance

Shares of NASDAQ:HTFL opened at $31.01 on Friday. The stock's 50-day moving average is $28.80 and its 200-day moving average is $27.70. The company has a market cap of $2.67 billion and a P/E ratio of -9.97. Heartflow has a 52-week low of $20.13 and a 52-week high of $41.22.

Heartflow (NASDAQ:HTFL - Get Free Report) last posted its quarterly earnings data 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. The firm's revenue was up 47.7% on a year-over-year basis. As a group, equities analysts predict that Heartflow will post -0.82 EPS for the current year.

Insider Activity at Heartflow

In other news, CEO John C.M. Farquhar sold 22,562 shares of Heartflow stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $28.31, for a total transaction of $638,730.22. Following the sale, the chief executive officer owned 436,280 shares of the company's stock, valued at approximately $12,351,086.80. This trade represents a 4.92% decrease in their position. The sale 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, insider Campbell Rogers sold 9,219 shares of the company's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $28.34, for a total value of $261,266.46. Following the completion of the transaction, the insider owned 78,731 shares of the company's stock, valued at $2,231,236.54. The trade was a 10.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 115,805 shares of company stock worth $3,530,609 in the last three months. 7.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Heartflow

A number of hedge funds and other institutional investors have recently made changes to their positions in HTFL. XXEC Inc. bought a new stake in Heartflow in the second quarter valued at about $2,524,764,000. BlackRock Inc. bought a new position in Heartflow during the second quarter worth about $152,502,000. Wellington Management Group LLP bought a new position in Heartflow during the third quarter worth about $164,263,000. Schusterman Interests LLC acquired a new stake in Heartflow during the third quarter valued at approximately $65,274,000. Finally, Capricorn Investment Group LLC bought a new stake in shares of Heartflow in the 4th quarter valued at approximately $48,178,000.

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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