Canaccord Genuity Group Reaffirms Buy Rating for Heartflow (NASDAQ:HTFL)

Heartflow (NASDAQ:HTFL)‘s stock had its “buy” rating reissued by analysts at Canaccord Genuity Group in a research note issued on Monday,Benzinga reports. They presently have a $40.00 price objective on the stock. Canaccord Genuity Group’s target price would indicate a potential upside of 72.44% from the company’s current price.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. upped their target price on Heartflow from $36.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. Wells Fargo & Company assumed coverage on shares of Heartflow in a research report on Wednesday, January 28th. They set an “overweight” rating and a $38.00 price objective on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Heartflow in a report on Monday, December 29th. Finally, Stifel Nicolaus lifted their target price on shares of Heartflow from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Five investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $38.50.

Heartflow Stock Up 0.9%

Shares of HTFL traded up $0.22 during trading hours on Monday, hitting $23.20. The company had a trading volume of 1,267,042 shares, compared to its average volume of 1,423,707. Heartflow has a 52-week low of $20.13 and a 52-week high of $41.22. The stock’s 50 day moving average price is $28.43 and its 200 day moving average price is $30.97. The firm has a market cap of $1.98 billion and a P/E ratio of -12.83.

Insider Transactions at Heartflow

In other Heartflow news, insider Campbell Rogers sold 65,153 shares of Heartflow stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $24.49, for a total value of $1,595,596.97. Following the completion of the sale, the insider owned 76,034 shares of the company’s stock, valued at approximately $1,862,072.66. This trade represents a 46.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John C.M. Farquhar sold 22,562 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $27.46, for a total transaction of $619,552.52. Following the transaction, the chief executive officer directly owned 591,656 shares of the company’s stock, valued at $16,246,873.76. The trade was a 3.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 2,104,837 shares of company stock worth $58,761,759.

Institutional Trading of Heartflow

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings in shares of Heartflow by 20.8% in the fourth quarter. Wellington Management Group LLP now owns 5,894,070 shares of the company’s stock valued at $171,812,000 after purchasing an additional 1,014,006 shares during the period. Baillie Gifford & Co. purchased a new position in Heartflow in the third quarter valued at about $101,182,000. Bamco Inc. NY raised its stake in shares of Heartflow by 86.2% during the 4th quarter. Bamco Inc. NY now owns 2,303,877 shares of the company’s stock worth $67,158,000 after acquiring an additional 1,066,371 shares in the last quarter. Schusterman Interests LLC purchased a new stake in shares of Heartflow during the 3rd quarter valued at $65,274,000. Finally, Capricorn Investment Group LLC purchased a new stake in shares of Heartflow during the fourth quarter worth about $48,178,000.

About Heartflow

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.