Heartflow (NASDAQ:HTFL) Hits New 1-Year High - Still a Buy?

Key Points

• Heartflow shares hit a new 52-week high, reaching $52.49 and closing around $51.90, up 4.8% in trading. The stock has risen well above its 50-day and 200-day moving averages.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $46.25—below the current share price—while recent firms raised targets as high as $56.
• Heartflow reported stronger-than-expected quarterly results, including an EPS loss of $0.07 versus an expected loss of $0.22 and 47.7% year-over-year revenue growth to $64.08 million. However, insiders sold approximately $12.9 million of stock over the past 90 days.

Heartflow, Inc. (NASDAQ:HTFL - Get Free Report)'s share price hit a new 52-week high during trading on Monday. The company traded as high as $52.49 and last traded at $51.8950, with a volume of 819255 shares traded. The stock had previously closed at $49.32.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HTFL. Wall Street Zen raised Heartflow from a "hold" rating to a "buy" rating in a research note on Saturday. Canaccord Genuity Group upped their price target on shares of Heartflow from $45.00 to $56.00 and gave the company a "buy" rating in a report on Tuesday, September 22nd. Piper Sandler reissued 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. Freedom Capital upgraded shares of Heartflow to a "strong-buy" rating in a research report on Tuesday, June 30th. Finally, Morgan Stanley increased their target price on shares of Heartflow from $35.00 to $40.00 and gave the stock an "equal weight" rating in a report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $46.25.

Heartflow Trading Up 4.8%

The firm has a market capitalization of $4.50 billion, a P/E ratio of -28.23 and a beta of 2.73. The business's 50 day simple moving average is $42.57 and its two-hundred day simple moving average is $33.64.

Heartflow (NASDAQ:HTFL - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.15. Heartflow had a negative net margin of 55.82% and a negative return on equity of 23.52%. The firm had revenue of $64.08 million for the quarter. The company's revenue was up 47.7% compared to the same quarter last year. Analysts predict that Heartflow, Inc. will post -0.75 EPS for the current fiscal year.

Insider Activity at Heartflow

In related news, insider Campbell Rogers sold 19,682 shares of Heartflow stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $50.15, for a total value of $987,052.30. Following the completion of the sale, the insider directly owned 79,956 shares in the company, valued at approximately $4,009,793.40. This trade represents a 19.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vikram Verghese sold 16,766 shares of the company's stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $50.75, for a total transaction of $850,874.50. Following the transaction, the chief financial officer owned 155,183 shares in the company, valued at $7,875,537.25. This represents a 9.75% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 287,767 shares of company stock valued at $12,871,623 over the last ninety days. Insiders own 7.70% of the company's stock.

Institutional Trading of Heartflow

A number of hedge funds have recently bought and sold shares of HTFL. Engineers Gate Manager LP purchased a new position in Heartflow in the second quarter worth about $590,000. Integrated Wealth Concepts LLC bought a new position in shares of Heartflow in the second quarter worth about $53,000. Squarepoint Ops LLC lifted its holdings in Heartflow by 72.0% during the second quarter. Squarepoint Ops LLC now owns 87,052 shares of the company's stock valued at $2,554,000 after purchasing an additional 36,441 shares in the last quarter. Arizona State Retirement System bought a new position in shares of Heartflow in the second quarter worth approximately $312,000. Finally, Allianz Asset Management GmbH purchased a new stake in Heartflow in the 2nd quarter worth $1,557,000.

Heartflow Company Profile

HeartFlow, Inc is a medical technology company focused on improving the diagnosis and management of coronary artery disease. The company develops software and clinical tools that use artificial intelligence, advanced image analysis and data from coronary computed tomography angiography (CCTA) scans to provide noninvasive assessments of blood flow and potential blockages in the heart.

Its principal product is the HeartFlow Analysis, which creates a personalized, three-dimensional model of a patient's coronary arteries and can estimate the impact of blockages on blood flow.

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