Heartflow (NASDAQ:HTFL) Stock Price Down 11.2% – What’s Next?

Heartflow, Inc. (NASDAQ:HTFL)’s stock price was down 11.2% during trading on Tuesday . The stock traded as low as $30.00 and last traded at $30.95. 324,683 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 1,457,201 shares. The stock had previously closed at $34.85.

Analysts Set New Price Targets

A number of research analysts have recently commented on HTFL shares. Wells Fargo & Company boosted their price target on shares of Heartflow from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Canaccord Genuity Group lowered their price objective on Heartflow from $43.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Weiss Ratings raised Heartflow from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, June 12th. William Blair assumed coverage on Heartflow in a research note on Monday, May 4th. They issued an “outperform” rating on the stock. Finally, JPMorgan Chase & Co. lowered their price target on Heartflow from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, March 19th. Six equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Heartflow currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.00.

Heartflow Stock Performance

The stock’s 50 day simple moving average is $30.79 and its 200 day simple moving average is $28.66. The firm has a market cap of $2.51 billion and a PE ratio of -9.42.

Heartflow (NASDAQ:HTFL) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.24) by $0.08. The company had revenue of $52.59 million for the quarter. The business’s revenue was up 41.3% on a year-over-year basis. As a group, analysts anticipate that Heartflow, Inc. will post -0.82 earnings per share for the current year.

Insider Buying and Selling at Heartflow

In other news, CEO John C.M. Farquhar sold 38,900 shares of the company’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $35.00, for a total value of $1,361,500.00. Following the completion of the transaction, the chief executive officer directly owned 457,935 shares in the company, valued at approximately $16,027,725. This represents a 7.83% decrease in their position. The transaction was disclosed in a document filed 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, major shareholder Bain Capital Life Sciences Inv sold 948,757 shares of the stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $29.23, for a total value of $27,732,167.11. Following the transaction, the insider owned 8,448,158 shares in the company, valued at $246,939,658.34. This trade represents a 10.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,180,338 shares of company stock worth $64,012,598 over the last 90 days. Corporate insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new stake in shares of Heartflow in the 4th quarter worth approximately $27,000. Russell Investments Group Ltd. purchased a new position in Heartflow in the 4th quarter worth $45,000. Essential Partners LLC bought a new stake in Heartflow in the first quarter worth $57,000. Legal & General Group Plc purchased a new stake in Heartflow during the third quarter valued at about $59,000. Finally, Strs Ohio purchased a new stake in Heartflow during the fourth quarter valued at about $99,000.

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.