Heartflow (NASDAQ:HTFL) Sets New 1-Year High - Here's Why

Key Points

• Heartflow shares reached a new 52-week high of $57.93, with the stock recently trading around $57.77 and its market capitalization at approximately $5.11 billion.
• Analyst sentiment is generally positive: Heartflow has a consensus rating of “Moderate Buy”, with an average price target of $48.62, although Piper Sandler raised its target to $64.
• The company reported strong operating growth, including 47.7% year-over-year revenue growth to $64.08 million and a smaller-than-expected quarterly loss, but it remains unprofitable with a negative net margin of 55.82%.

Heartflow, Inc. (NASDAQ:HTFL - Get Free Report)'s share price reached a new 52-week high on Tuesday. The company traded as high as $57.93 and last traded at $57.7660, with a volume of 99,389 shares trading hands. The stock had previously closed at $57.01.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on HTFL shares. Stifel Nicolaus boosted their price objective on Heartflow from $40.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, August 14th. Piper Sandler restated an "overweight" rating and issued a $64.00 price target (up from $45.00) on shares of Heartflow in a research note on Tuesday, October 20th. Weiss Ratings raised Heartflow from a "sell (e+)" rating to a "sell (d-)" rating in a report on Friday, August 7th. Wall Street Zen raised shares of Heartflow from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, JPMorgan Chase & Co. raised their price target on shares of Heartflow from $35.00 to $45.00 and gave the stock an "overweight" rating in a research report on Friday, August 14th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $48.62.

Heartflow Stock Performance

The company has a market cap of $5.11 billion, a price-to-earnings ratio of -32.04 and a beta of 2.73. The stock's fifty day moving average is $49.38 and its two-hundred day moving average is $33.51.

Heartflow (NASDAQ:HTFL - Get Free Report) last issued its quarterly 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 company had revenue of $64.08 million during the quarter. The business's quarterly revenue was up 47.7% on a year-over-year basis. On average, equities research analysts expect that Heartflow, Inc. will post -0.75 EPS for the current year.

Insider Transactions at Heartflow

In related news, CFO Vikram Verghese sold 29,714 shares of the company's stock in a transaction that occurred on Friday, September 11th. The shares were sold at an average price of $50.06, for a total transaction of $1,487,482.84. Following the sale, the chief financial officer directly owned 184,789 shares in the company, valued at approximately $9,250,537.34. This represents a 13.85% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Farquhar sold 38,900 shares of the stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $49.57, for a total transaction of $1,928,273.00. Following the completion of the sale, the chief executive officer owned 283,014 shares in the company, valued at $14,029,003.98. This represents a 12.08% 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. In the last 90 days, insiders sold 328,038 shares of company stock worth $15,490,354. 7.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Heartflow

Institutional investors and hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its position in Heartflow by 75.1% in the third quarter. GAMMA Investing LLC now owns 641 shares of the company's stock valued at $32,000 after purchasing an additional 275 shares during the last quarter. IFP Advisors Inc increased its stake in shares of Heartflow by 844.7% during the third quarter. IFP Advisors Inc now owns 803 shares of the company's stock valued at $40,000 after buying an additional 718 shares during the period. Integrated Wealth Concepts LLC bought a new stake in Heartflow in the second quarter valued at $53,000. Essential Partners LLC bought a new position in Heartflow in the 1st quarter worth $57,000. Finally, Strs Ohio raised its stake in Heartflow by 35.3% in the first quarter. Strs Ohio now owns 4,600 shares of the company's stock worth $112,000 after buying an additional 1,200 shares in the last quarter.

Heartflow Company Profile

Heartflow, Inc is a medical technology company that develops artificial intelligence-based tools to help physicians diagnose and manage coronary artery disease. Its platform uses data from coronary computed tomography angiography (CCTA) scans to create personalized, three-dimensional models of a patient's coronary arteries and provide noninvasive assessments of blood flow and disease.

The company's products include Heartflow Analysis, which provides fractional flow reserve computed tomography (FFR-CT) evaluations to help identify potentially significant blockages, as well as tools for assessing coronary plaque and planning treatment.

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