Heartflow (NASDAQ:HTFL) Shares Climb 6.9% - What's Next?

Key Points

• Heartflow shares rose 6.9% to about $51.60, although trading volume was 76% below the average session level.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $46.25; Canaccord raised its target to $56.
• Heartflow exceeded quarterly EPS expectations and reported 47.7% year-over-year revenue growth to $64.08 million, but remained unprofitable. Insiders have sold about $14.2 million of stock over the past 90 days.

Shares of Heartflow, Inc. (NASDAQ:HTFL - Get Free Report) traded up 6.9% during mid-day trading on Monday. The company traded as high as $51.38 and last traded at $51.6030. Approximately 380,510 shares were traded during mid-day trading, a decline of 76% from the average session volume of 1,584,559 shares. The stock had previously closed at $48.29.

Analyst Ratings Changes

Several equities analysts have recently commented on HTFL shares. Morgan Stanley upped their price target on shares of Heartflow from $35.00 to $40.00 and gave the stock an "equal weight" rating in a research report on Friday, August 14th. Canaccord Genuity Group boosted their target price on shares of Heartflow from $45.00 to $56.00 and gave the company a "buy" rating in a research note on Tuesday, September 22nd. Freedom Capital upgraded shares of Heartflow to a "strong-buy" rating in a research note on Tuesday, June 30th. Wells Fargo & Company lifted their price target on Heartflow from $37.00 to $39.00 and gave the company an "overweight" rating in a report on Friday, August 14th. Finally, UBS Group started coverage on Heartflow in a research report on Wednesday, September 9th. They set a "neutral" rating and a $55.00 price objective for the company. 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 given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $46.25.

Heartflow Price Performance

The firm has a market cap of $4.46 billion, a price-to-earnings ratio of -28.05 and a beta of 2.73. The firm's fifty day moving average is $47.26 and its two-hundred day moving average is $35.34.

Heartflow (NASDAQ:HTFL - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, topping analysts' consensus estimates of ($0.22) by $0.15. The company had revenue of $64.08 million for the quarter. Heartflow had a negative net margin of 55.82% and a negative return on equity of 23.52%. The business's revenue for the quarter was up 47.7% on a year-over-year basis. On average, equities analysts forecast that Heartflow, Inc. will post -0.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Heartflow news, CFO Vikram Verghese sold 16,766 shares of the stock in a transaction on Friday, September 18th. The stock was sold at an average price of $50.75, for a total transaction of $850,874.50. Following the completion of the transaction, the chief financial officer directly owned 155,183 shares of the company's stock, valued at approximately $7,875,537.25. This trade represents a 9.75% decrease in their position. The sale was disclosed in a document filed 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 Heartflow stock in a transaction on Monday, October 12th. The shares were sold at an average price of $49.57, for a total value of $1,928,273.00. Following the transaction, the chief executive officer owned 283,014 shares in the company, valued at approximately $14,029,003.98. This trade represents a 12.08% decrease in their ownership of the stock. 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. Insiders sold 304,105 shares of company stock worth $14,173,800 over the last ninety days. Company insiders own 7.70% of the company's stock.

Institutional Inflows and Outflows

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

About Heartflow

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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