Insider Selling: Heartflow (NASDAQ:HTFL) Major Shareholder Sells 797,133 Shares of Stock

Key Points

• Bain Capital Life Sciences sold 797,133 shares of Heartflow on April 29 at an average price of $29.37 (~$23.41M), reducing its stake by 7.82% to 9,396,915 shares; the firm also sold additional blocks on Apr 30 (948,757), Apr 28 (254,110) and Feb 4 (2,000,000) in recent months.
• Heartflow shares trade around $29.76 with a market cap of $2.55B and a negative P/E, while analysts maintain a consensus rating of "Moderate Buy" and a $37.67 target amid growing institutional ownership from firms like Wellington, Baillie Gifford and Vanguard.

Heartflow, Inc. (NASDAQ:HTFL - Get Free Report) major shareholder Bain Capital Life Sciences Inv sold 797,133 shares of Heartflow stock in a transaction dated Wednesday, April 29th. The stock was sold at an average price of $29.37, for a total value of $23,411,796.21. Following the sale, the insider owned 9,396,915 shares of the company's stock, valued at approximately $275,987,393.55. This represents a 7.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.

Bain Capital Life Sciences Inv also recently made the following trade(s):

• On Thursday, April 30th, Bain Capital Life Sciences Inv sold 948,757 shares of Heartflow stock. The stock was sold at an average price of $29.23, for a total value of $27,732,167.11.
• On Tuesday, April 28th, Bain Capital Life Sciences Inv sold 254,110 shares of Heartflow stock. The stock was sold at an average price of $30.51, for a total value of $7,752,896.10.
• On Wednesday, February 4th, Bain Capital Life Sciences Inv sold 2,000,000 shares of Heartflow stock. The stock was sold at an average price of $28.05, for a total value of $56,100,000.00.

Heartflow Stock Performance

Heartflow stock traded up $0.23 during midday trading on Thursday, reaching $29.76. 1,494,251 shares of the company were exchanged, compared to its average volume of 1,071,590. The company has a market capitalization of $2.55 billion and a price-to-earnings ratio of -14.95. The firm's 50-day simple moving average is $26.11 and its 200-day simple moving average is $29.28. Heartflow, Inc. has a 1 year low of $20.13 and a 1 year high of $41.22.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on HTFL shares. Wells Fargo & Company dropped their price objective on Heartflow from $38.00 to $35.00 and set an "overweight" rating for the company in a research report on Thursday, March 19th. JPMorgan Chase & Co. dropped their price objective on Heartflow from $40.00 to $35.00 and set an "overweight" rating for the company in a research report on Thursday, March 19th. Finally, Canaccord Genuity Group lifted their price target on Heartflow from $40.00 to $43.00 and gave the company a "buy" rating in a report on Thursday, March 19th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $37.67.

Institutional Trading of Heartflow

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HTFL. Wellington Management Group LLP purchased a new stake in Heartflow in the 3rd quarter valued at about $164,263,000. Baillie Gifford & Co. purchased a new stake in Heartflow in the 3rd quarter valued at about $101,182,000. Schusterman Interests LLC purchased a new stake in Heartflow in the 3rd quarter valued at about $65,274,000. Capricorn Investment Group LLC purchased a new stake in Heartflow in the 4th quarter valued at about $48,178,000. Finally, Vanguard Group Inc. purchased a new stake in Heartflow in the 3rd quarter valued at about $48,871,000.

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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