Insider Selling: Heartflow (NASDAQ:HTFL) CEO Sells 15,560 Shares of Stock

Key Points

• Heartflow CEO John C.M. Farquhar sold 15,560 shares at an average price of $39.06, generating approximately $607,774. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his direct ownership by 3.57% to 420,720 shares.
• Heartflow shares recently rose to $45.23, near their 52-week high of $45.33, while the company reported quarterly revenue of $64.08 million, up 47.7% year over year, and better-than-expected EPS of negative $0.07.
• Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $43.43; several firms recently raised their targets to between $39 and $45.

Heartflow, Inc. (NASDAQ:HTFL - Get Free Report) CEO John C.M. Farquhar sold 15,560 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $39.06, for a total value of $607,773.60. Following the sale, the chief executive officer directly owned 420,720 shares in the company, valued at $16,433,323.20. This trade represents a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

John C.M. Farquhar also recently made the following trade(s):

• On Monday, August 10th, John C.M. Farquhar sold 22,562 shares of Heartflow stock. The shares were sold at an average price of $28.31, for a total transaction of $638,730.22.
• On Friday, July 10th, John C.M. Farquhar sold 22,562 shares of Heartflow stock. The shares were sold at an average price of $27.75, for a total transaction of $626,095.50.
• On Wednesday, June 24th, John C.M. Farquhar sold 38,900 shares of Heartflow stock. The stock was sold at an average price of $35.00, for a total transaction of $1,361,500.00.
• On Wednesday, June 10th, John C.M. Farquhar sold 22,562 shares of Heartflow stock. The shares were sold at an average price of $28.50, for a total transaction of $643,017.00.

Heartflow Stock Performance

Shares of HTFL stock traded up $3.29 on Tuesday, reaching $45.23. The stock had a trading volume of 4,168,269 shares, compared to its average volume of 1,510,340. Heartflow, Inc. has a 1 year low of $20.13 and a 1 year high of $45.33. The stock has a market cap of $3.90 billion and a P/E ratio of -24.72. The company has a 50 day simple moving average of $29.35 and a 200 day simple moving average of $27.85.

Heartflow (NASDAQ:HTFL - Get Free Report) last posted its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.15. Heartflow had a negative return on equity of 23.50% and a negative net margin of 55.82%.The company had revenue of $64.08 million during the quarter. The company's revenue was up 47.7% compared to the same quarter last year. On average, equities research analysts anticipate that Heartflow, Inc. will post -0.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Robert W. Baird set a $45.00 price target on shares of Heartflow in a research report on Friday. Wells Fargo & Company upped their price objective on Heartflow from $37.00 to $39.00 and gave the stock an "overweight" rating in a research note on Friday. Morgan Stanley lifted their target price on Heartflow from $35.00 to $40.00 and gave the company an "equal weight" rating in a research report on Friday. JPMorgan Chase & Co. boosted their price target on Heartflow from $35.00 to $45.00 and gave the company an "overweight" rating in a report on Friday. Finally, Benchmark restated a "buy" rating on shares of Heartflow in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $43.43.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. purchased a new stake in Heartflow in the 3rd quarter worth $48,871,000. Legal & General Group Plc purchased a new position in shares of Heartflow in the third quarter valued at about $59,000. Franklin Resources Inc. bought a new position in shares of Heartflow in the third quarter worth about $10,829,000. UBS Group AG purchased a new stake in shares of Heartflow during the third quarter worth about $5,130,000. Finally, Sei Investments Co. bought a new stake in Heartflow during the 3rd quarter valued at approximately $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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