Heartflow (NASDAQ:HTFL) Sets New 12-Month High - Here's Why

Key Points

• Heartflow shares reached a new 52-week high, trading as high as $52.22 and closing near $51.20, up from the prior close of $49.57.
• Analysts raised their price targets, with JPMorgan, Stifel, Wells Fargo and Piper Sandler citing targets of $39–$45; the stock carries a consensus “Moderate Buy” rating and an average target of $44.88.
• Heartflow reported better-than-expected quarterly results, with an adjusted loss of $0.07 per share versus estimates of a $0.22 loss and revenue of $64.08 million, up 47.7% year over year, though the company remains unprofitable.

Shares of Heartflow, Inc. (NASDAQ:HTFL - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $52.22 and last traded at $51.2010, with a volume of 1599729 shares changing hands. The stock had previously closed at $49.57.

Analysts Set New Price Targets

Several analysts recently issued reports on HTFL shares. JPMorgan Chase & Co. increased 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. Stifel Nicolaus upped their price objective 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. Wells Fargo & Company increased their price objective on shares of Heartflow from $37.00 to $39.00 and gave the company an "overweight" rating in a research note on Friday, August 14th. Freedom Capital raised shares of Heartflow to a "strong-buy" rating in a research note on Tuesday, June 30th. Finally, Piper Sandler reiterated an "overweight" rating and set a $45.00 price target (up from $38.00) on shares of Heartflow in a report on Friday, August 14th. One research 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 company. According to MarketBeat, Heartflow presently has a consensus rating of "Moderate Buy" and an average price target of $44.88.

Heartflow Price Performance

The company has a fifty day moving average price of $37.27 and a two-hundred day moving average price of $31.57. The company has a market capitalization of $4.45 billion and a P/E ratio of -27.99.

Heartflow (NASDAQ:HTFL - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 business had revenue of $64.08 million during the quarter. The company's revenue was up 47.7% on a year-over-year basis. As a group, sell-side analysts forecast that Heartflow, Inc. will post -0.75 earnings per share for the current year.

Insider Buying and Selling at Heartflow

In other Heartflow news, CFO Vikram Verghese sold 668 shares of Heartflow stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $50.01, for a total transaction of $33,406.68. Following the transaction, the chief financial officer directly owned 179,528 shares of the company's stock, valued at approximately $8,978,195.28. The trade was a 0.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Farquhar sold 3,890 shares of the company's stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $50.00, for a total value of $194,500.00. Following the completion of the sale, the chief executive officer owned 321,914 shares in the company, valued at $16,095,700. This trade represents a 1.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 282,640 shares of company stock worth $12,015,412. 7.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Heartflow

A number of hedge funds and other institutional investors have recently made changes to their positions in HTFL. XXEC Inc. bought a new stake in shares of Heartflow in the 2nd quarter valued at $2,524,764,000. BlackRock Inc. acquired a new position in Heartflow in the second quarter valued at $152,502,000. Bamco Inc. NY bought a new stake in Heartflow during the second quarter valued at $94,625,000. Jupiter Topco LLC bought a new stake in Heartflow during the second quarter valued at $70,983,000. Finally, Janus Henderson Group PLC grew its holdings in Heartflow by 152.0% during the 1st quarter. Janus Henderson Group PLC now owns 2,180,976 shares of the company's stock worth $53,063,000 after acquiring an additional 1,315,416 shares during the period.

About Heartflow

Heartflow, Inc is a medical technology company that develops artificial intelligence and imaging solutions for the diagnosis and management of coronary artery disease. Its platform analyzes data from coronary computed tomography angiography (CCTA) scans to create personalized, three-dimensional models of a patient's coronary arteries.

The company's primary offering, Heartflow Analysis, is designed to provide noninvasive estimates of fractional flow reserve derived from computed tomography (FFR^CT).

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