The Manufacturers Life Insurance Company Invests $1.14 Million in Heartflow, Inc. $HTFL

The Manufacturers Life Insurance Company purchased a new stake in shares of Heartflow, Inc. (NASDAQ:HTFL) in the second quarter, HoldingsChannel.com reports. The firm purchased 38,924 shares of the company’s stock, valued at approximately $1,142,000.

Several other large investors also recently modified their holdings of the business. XXEC Inc. acquired a new stake in Heartflow during the 2nd quarter valued at approximately $2,524,764,000. Quantinno Capital Management LP purchased a new position in shares of Heartflow during the 1st quarter valued at approximately $1,734,000. Sei Investments Co. raised its holdings in Heartflow by 342.5% in the first quarter. Sei Investments Co. now owns 67,048 shares of the company’s stock valued at $1,631,000 after acquiring an additional 51,895 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Heartflow during the 2nd quarter valued at $19,096,000. Finally, Handelsbanken Fonder AB bought a new stake in shares of Heartflow in the 2nd quarter worth about $910,000.

Heartflow Price Performance

NASDAQ:HTFL opened at $48.91 on Friday. The firm has a market capitalization of $4.25 billion and a P/E ratio of -26.73. The business has a 50 day simple moving average of $33.76 and a 200 day simple moving average of $29.92. Heartflow, Inc. has a 12-month low of $20.13 and a 12-month high of $51.78.

Heartflow (NASDAQ:HTFL) last posted its earnings results 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 return on equity of 23.52% and a negative net margin of 55.82%.The company had revenue of $64.08 million for the quarter. The company’s revenue for the quarter was up 47.7% compared to the same quarter last year. Research analysts anticipate that Heartflow, Inc. will post -0.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Morgan Stanley lifted their price target on Heartflow from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, August 14th. Stifel Nicolaus upped their price target on Heartflow from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Piper Sandler reissued an “overweight” rating and set a $45.00 target price (up from $38.00) on shares of Heartflow in a report on Friday, August 14th. Robert W. Baird set a $45.00 price target on shares of Heartflow in a report on Friday, August 14th. Finally, Wells Fargo & Company boosted their price objective on shares of Heartflow from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.43.

Insider Buying and Selling

In related news, CEO John Farquhar sold 27,230 shares of Heartflow stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $50.00, for a total value of $1,361,500.00. Following the sale, the chief executive officer directly owned 360,814 shares in the company, valued at $18,040,700. This trade represents a 7.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vikram Verghese sold 27,540 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $49.69, for a total transaction of $1,368,462.60. Following the transaction, the chief financial officer directly owned 221,143 shares of the company’s stock, valued at $10,988,595.67. The trade was a 11.07% decrease in their ownership of the stock. 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 a total of 224,687 shares of company stock valued at $8,754,924 in the last quarter. Company insiders own 7.70% of the company’s stock.

Heartflow 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.