Heartflow (NASDAQ:HTFL) Reaches New 12-Month High – Here’s Why

Heartflow, Inc. (NASDAQ:HTFL)’s share price reached a new 52-week high during mid-day trading on Monday. The stock traded as high as $52.49 and last traded at $51.8950, with a volume of 819255 shares changing hands. The stock had previously closed at $49.32.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wells Fargo & Company raised their target price 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. JPMorgan Chase & Co. lifted their target price on Heartflow from $35.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. UBS Group began coverage on Heartflow in a research report on Wednesday, September 9th. They issued a “neutral” rating and a $55.00 target price on the stock. Morgan Stanley raised their price target on Heartflow from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, August 14th. Finally, Robert W. Baird set a $45.00 price objective on Heartflow in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, 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 capitalization of $4.50 billion, a PE ratio of -28.23 and a beta of 2.73. The business has a 50-day simple moving average of $42.57 and a 200-day simple moving average of $33.64.

Heartflow (NASDAQ:HTFL) last announced its 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. Heartflow had a negative return on equity of 23.52% and a negative net margin of 55.82%.The firm had revenue of $64.08 million during the quarter. The company’s revenue for the quarter was up 47.7% on a year-over-year basis. On average, research analysts expect that Heartflow, Inc. will post -0.75 earnings per share for the current year.

Insider Buying and Selling at Heartflow

In other news, CFO Vikram Verghese sold 29,714 shares of the stock in a transaction on Friday, September 11th. The shares were sold at an average price of $50.06, for a total value of $1,487,482.84. Following the sale, the chief financial officer owned 184,789 shares of the company’s stock, valued at approximately $9,250,537.34. This represents a 13.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 35,010 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $46.42, for a total transaction of $1,625,164.20. Following the completion of the sale, the chief executive officer owned 325,804 shares of the company’s stock, valued at $15,123,821.68. This trade represents a 9.70% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 287,767 shares of company stock worth $12,871,623 over the last quarter. Insiders own 7.70% of the company’s stock.

Institutional Trading of Heartflow

Several institutional investors have recently added to or reduced their stakes in the company. XXEC Inc. bought a new position in shares of Heartflow during the second quarter valued at approximately $2,524,764,000. BlackRock Inc. purchased a new position in Heartflow during the 2nd quarter valued at $152,502,000. Bamco Inc. NY purchased a new position in Heartflow during the 2nd quarter valued at $94,625,000. Jupiter Topco LLC bought a new position in Heartflow in the 2nd quarter valued at $70,983,000. Finally, Janus Henderson Group PLC increased its stake in Heartflow by 152.0% in the first quarter. Janus Henderson Group PLC now owns 2,180,976 shares of the company’s stock worth $53,063,000 after purchasing an additional 1,315,416 shares during the period.

Heartflow Company Profile

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.