Heartflow (NASDAQ:HTFL) Shares Gap Up Following Better-Than-Expected Earnings

Key Points

• Heartflow shares surged after the company reported adjusted EPS of $(0.07), beating estimates of $(0.22), while quarterly revenue reached $64.08 million, up 47.7% year over year.
• The stock opened at $39.06 versus a prior close of $31.01 and last traded near $41.07, above the analyst consensus target of $38.86.
• Analysts maintain a generally positive outlook, with MarketBeat reporting a “Moderate Buy” consensus, although insiders have sold 115,805 shares worth approximately $3.53 million over the past three months.

Heartflow, Inc. (NASDAQ:HTFL - Get Free Report) shares gapped up prior to trading on Friday following a stronger than expected earnings report. The stock had previously closed at $31.01, but opened at $39.06. Heartflow shares last traded at $41.0730, with a volume of 1,793,589 shares changing hands.

The company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.15. The company had revenue of $64.08 million for the quarter. The company's revenue for the quarter was up 47.7% on a year-over-year basis.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HTFL. Piper Sandler reissued an "overweight" rating on shares of Heartflow in a research note on Friday. Canaccord Genuity Group decreased their target price on Heartflow from $43.00 to $37.00 and set a "buy" rating for the company in a research note on Friday, May 15th. Freedom Capital upgraded shares of Heartflow to a "strong-buy" rating in a research report on Tuesday, June 30th. William Blair started coverage on shares of Heartflow in a report on Monday, May 4th. They issued an "outperform" rating for the company. Finally, Weiss Ratings raised shares of Heartflow from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Heartflow presently has an average rating of "Moderate Buy" and an average target price of $38.86.

Insider Buying and Selling at Heartflow

In other news, CEO John C.M. Farquhar sold 22,562 shares of the company's stock in a transaction 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 completion of the sale, the chief executive officer directly owned 436,280 shares of the company's stock, valued at $12,351,086.80. This represents a 4.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 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. This trade represents a 10.48% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 115,805 shares of company stock valued at $3,530,609. Corporate insiders own 7.70% of the company's stock.

Institutional Trading of Heartflow

A number of hedge funds have recently bought and sold shares of HTFL. TrueMark Investments LLC raised its holdings in shares of Heartflow by 1.4% during the first quarter. TrueMark Investments LLC now owns 26,885 shares of the company's stock valued at $654,000 after acquiring an additional 379 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Heartflow during the 4th quarter worth approximately $27,000. Strs Ohio grew its position in Heartflow by 35.3% during the 1st quarter. Strs Ohio now owns 4,600 shares of the company's stock worth $112,000 after purchasing an additional 1,200 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Heartflow during the 4th quarter valued at $45,000. Finally, Legal & General Group Plc purchased a new stake in shares of Heartflow in the third quarter valued at $59,000.

Heartflow Price Performance

The company has a market cap of $3.52 billion and a PE ratio of -13.18. The stock has a fifty day moving average price of $28.80 and a 200-day moving average price of $27.70.

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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