Heartflow (NASDAQ:HTFL) Shares Up 7.1% - Here's Why

Key Points

• Heartflow shares rose 7.1% on Wednesday, touching an intraday high of $27.39 after closing at $25.49 the previous day. Trading volume was well below average, with about 199,673 shares changing hands versus a 1.48 million daily average.
• Recent analyst activity has been mostly positive, with several firms maintaining or initiating buy/overweight views. MarketBeat data shows a consensus rating of Moderate Buy and an average price target of $37.00.
• The company’s latest earnings beat expectations, reporting a smaller-than-expected loss of $0.16 per share on revenue of $52.59 million, which was up 41.3% year over year. However, insider selling has been notable, including a large sale by Bain Capital Life Sciences and additional sales by an insider.

Heartflow, Inc. (NASDAQ:HTFL - Get Free Report) rose 7.1% during trading on Wednesday . The stock traded as high as $27.39 and last traded at $27.3110. 199,673 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 1,482,831 shares. The stock had previously closed at $25.49.

Analyst Ratings Changes

Several research firms recently commented on HTFL. JPMorgan Chase & Co. reduced their target price on Heartflow from $40.00 to $35.00 and set an "overweight" rating for the company in a research report on Thursday, March 19th. Stifel Nicolaus set a $40.00 price target on Heartflow in a research report on Wednesday. William Blair initiated coverage on Heartflow in a report on Monday, May 4th. They issued an "outperform" rating for the company. Wells Fargo & Company boosted their target price on Heartflow from $35.00 to $37.00 and gave the stock an "overweight" rating in a research report on Friday, May 15th. Finally, Canaccord Genuity Group decreased their price target 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. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $37.00.

Heartflow Stock Up 10.0%

The stock has a market cap of $2.42 billion and a P/E ratio of -9.05. The company has a 50-day simple moving average of $30.03 and a two-hundred day simple moving average of $28.59.

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

Insider Buying and Selling at Heartflow

In other news, insider Campbell Rogers sold 9,219 shares of the company's stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $28.34, for a total transaction of $261,266.46. Following the completion of the transaction, the insider directly owned 78,731 shares of the company's stock, valued at approximately $2,231,236.54. This represents a 10.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 dated Thursday, April 30th. The stock was sold at an average price of $29.23, for a total value of $27,732,167.11. Following the completion of the sale, the insider directly owned 8,448,158 shares in the company, valued at $246,939,658.34. The trade was a 10.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 2,115,805 shares of company stock worth $62,445,744. 7.70% of the stock is currently owned by company 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. TrueMark Investments LLC raised its holdings in Heartflow by 1.4% in 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 bought a new stake in shares of Heartflow during the 4th quarter valued at about $27,000. Strs Ohio increased its position in shares of Heartflow by 35.3% during the first quarter. Strs Ohio now owns 4,600 shares of the company's stock valued at $112,000 after buying an additional 1,200 shares during the period. Russell Investments Group Ltd. bought a new position in Heartflow in the fourth quarter worth about $45,000. Finally, Legal & General Group Plc purchased a new stake in Heartflow in the third quarter worth about $59,000.

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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