Heartflow (NASDAQ:HTFL) CFO Vikram Verghese Sells 27,540 Shares

Key Points

• CFO Vikram Verghese sold 27,540 Heartflow shares at an average price of $49.69, worth approximately $1.37 million. The transaction, made under a pre-arranged Rule 10b5-1 plan, reduced his holdings by 11.07% to 221,143 shares.
• Heartflow shares fell 1.6% to $48.91 in Friday trading but remain near their 12-month high of $51.78. The stock has a $4.25 billion market capitalization and has climbed well above its 50-day and 200-day moving averages.
• Heartflow’s latest quarterly results beat expectations, with an adjusted loss of $0.07 per share versus the expected $0.22 loss and revenue up 47.7% year over year to $64.08 million. Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $43.43.

Heartflow, Inc. (NASDAQ:HTFL - Get Free Report) CFO Vikram Verghese sold 27,540 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $49.69, for a total value of $1,368,462.60. Following the completion of the sale, the chief financial officer owned 221,143 shares of the company's stock, valued at approximately $10,988,595.67. This trade represents a 11.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Vikram Verghese also recently made the following trade(s):

• On Wednesday, September 2nd, Vikram Verghese sold 5,876 shares of Heartflow stock. The shares were sold at an average price of $50.60, for a total transaction of $297,325.60.

Heartflow Stock Down 1.6%

Shares of HTFL traded down $0.80 during mid-day trading on Friday, reaching $48.91. 1,406,810 shares of the stock traded hands, compared to its average volume of 1,541,654. The stock has a fifty day simple moving average of $33.50 and a 200 day simple moving average of $29.79. Heartflow, Inc. has a 12-month low of $20.13 and a 12-month high of $51.78. The firm has a market cap of $4.25 billion and a price-to-earnings ratio of -26.73.

Heartflow (NASDAQ:HTFL - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.22) by $0.15. The business had revenue of $64.08 million during the quarter. Heartflow had a negative net margin of 55.82% and a negative return on equity of 23.52%. The firm's revenue for the quarter was up 47.7% on a year-over-year basis. On average, equities research analysts expect that Heartflow, Inc. will post -0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on HTFL. Weiss Ratings upgraded Heartflow from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, August 7th. Piper Sandler reaffirmed an "overweight" rating and set a $45.00 price target (up from $38.00) on shares of Heartflow in a research report on Friday, August 14th. Canaccord Genuity Group increased their target price on Heartflow from $37.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, August 14th. Benchmark reissued a "buy" rating on shares of Heartflow in a research report on Friday, August 14th. Finally, Stifel Nicolaus raised their price target on shares of Heartflow from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.43.

Institutional Trading of Heartflow

Institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new position in shares of Heartflow during the 4th quarter valued at about $27,000. Russell Investments Group Ltd. acquired a new position in shares of Heartflow in the 4th quarter worth $45,000. Legal & General Group Plc purchased a new stake in shares of Heartflow during the third quarter valued at $59,000. Essential Partners LLC acquired a new stake in Heartflow during the 1st quarter worth about $57,000. Finally, Strs Ohio acquired a new position in shares of Heartflow in the fourth quarter worth about $99,000.

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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