Heartflow (NASDAQ:HTFL) Stock Rating Upgraded by Robert W. Baird

Key Points

• Robert W. Baird upgraded Heartflow to “strong buy,” joining another strong-buy recommendation. Analysts’ overall consensus is “Moderate Buy,” with an average price target of $36.57.
• Heartflow opened at $25.23, down 2.3%, with a $2.18 billion market capitalization. Its latest quarterly results beat EPS expectations, while revenue increased 41.3% year over year to $52.59 million.
• Company insiders sold 115,805 shares worth approximately $3.55 million in the last quarter, while several institutional investors—including Vanguard and Franklin Resources—recently established positions.

Heartflow (NASDAQ:HTFL - Get Free Report) was upgraded by equities research analysts at Robert W. Baird to a "strong-buy" rating in a research note issued to investors on Friday,Zacks.com reports.

HTFL has been the subject of several other reports. Stifel Nicolaus set a $40.00 target price on Heartflow in a research note on Wednesday, July 15th. Piper Sandler reaffirmed an "overweight" rating on shares of Heartflow in a report on Thursday, June 11th. 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 lifted their price objective on shares of Heartflow from $35.00 to $37.00 and gave the company an "overweight" rating in a research report on Friday, May 15th. Finally, Freedom Capital raised Heartflow to a "strong-buy" rating in a report on Tuesday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $36.57.

Heartflow Trading Down 2.3%

NASDAQ HTFL opened at $25.23 on Friday. Heartflow has a 12-month low of $20.13 and a 12-month high of $41.22. The company has a fifty day simple moving average of $29.02 and a two-hundred day simple moving average of $28.10. The stock has a market cap of $2.18 billion and a P/E ratio of -8.11.

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

Insider Buying and Selling at Heartflow

In other news, insider Campbell Rogers sold 9,219 shares of Heartflow stock in a transaction on Monday, May 18th. The stock was sold at an average price of $28.34, for a total value of $261,266.46. Following the transaction, the insider owned 78,731 shares in the company, valued at approximately $2,231,236.54. This trade represents a 10.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John C.M. Farquhar sold 38,900 shares of the stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $35.00, for a total value of $1,361,500.00. Following the completion of the sale, the chief executive officer directly owned 457,935 shares of the company's stock, valued at approximately $16,027,725. This trade represents a 7.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 $3,548,884 in the last quarter. Company insiders own 7.70% of the company's stock.

Institutional Investors Weigh In On Heartflow

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. purchased a new stake in Heartflow during the third quarter worth about $48,871,000. Legal & General Group Plc acquired a new position in shares of Heartflow in the third quarter worth $59,000. Franklin Resources Inc. acquired a new stake in shares of Heartflow in the third quarter valued at $10,829,000. UBS Group AG acquired a new position in Heartflow during the 3rd quarter worth $5,130,000. Finally, Sei Investments Co. purchased a new position in shares of Heartflow in the 3rd quarter valued at about $303,000.

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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