Heartflow (NASDAQ:HTFL) Reaches New 52-Week High – Here’s What Happened

Heartflow, Inc. (NASDAQ:HTFL)’s stock price reached a new 52-week high on Tuesday. The stock traded as high as $54.82 and last traded at $54.6360, with a volume of 765,055 shares. The stock had previously closed at $51.02.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Heartflow from $35.00 to $45.00 and gave the company an “overweight” rating in a report on Friday, August 14th. Weiss Ratings upgraded shares of Heartflow from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 7th. Robert W. Baird set a $45.00 target price on shares of Heartflow in a report on Friday, August 14th. UBS Group initiated coverage on shares of Heartflow in a research report on Wednesday, September 9th. They issued a “neutral” rating and a $55.00 price target for the company. Finally, Wall Street Zen downgraded shares of Heartflow from a “buy” rating to a “hold” rating in a research note on Saturday, October 17th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $48.62.

Heartflow Price Performance

The company’s 50-day moving average price is $48.74 and its two-hundred day moving average price is $35.97. The company has a market capitalization of $4.85 billion, a price-to-earnings ratio of -30.50 and a beta of 2.73.

Heartflow (NASDAQ:HTFL) last released its earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.15. Heartflow had a negative net margin of 55.82% and a negative return on equity of 23.52%. The business had revenue of $64.08 million for the quarter. The business’s revenue for the quarter was up 47.7% compared to the same quarter last year. On average, equities research analysts expect that Heartflow, Inc. will post -0.75 EPS for the current fiscal year.

Insider Activity

In related news, CFO Vikram Verghese sold 29,714 shares of the company’s stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $50.06, for a total transaction of $1,487,482.84. Following the sale, the chief financial officer owned 184,789 shares in the company, valued at $9,250,537.34. This represents a 13.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Campbell Rogers sold 19,682 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $50.15, for a total value of $987,052.30. Following the sale, the insider directly owned 79,956 shares of the company’s stock, valued at $4,009,793.40. This represents a 19.75% decrease in their position. 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 304,105 shares of company stock valued at $14,173,800 in the last ninety days. 7.70% of the stock is owned by company insiders.

Institutional Trading of Heartflow

Several large investors have recently modified their holdings of the stock. XXEC Inc. bought a new stake in shares of Heartflow in the 2nd quarter valued at $2,524,764,000. BlackRock Inc. acquired a new stake in Heartflow in the second quarter worth $152,502,000. Bamco Inc. NY acquired a new stake in Heartflow in the second quarter worth $94,625,000. Jupiter Topco LLC bought a new stake in Heartflow in the second 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 valued at $53,063,000 after purchasing an additional 1,315,416 shares in the last quarter.

Heartflow Company Profile

Heartflow, Inc is a medical technology company that develops artificial intelligence-based tools to help physicians diagnose and manage coronary artery disease. Its platform uses data from coronary computed tomography angiography (CCTA) scans to create personalized, three-dimensional models of a patient’s coronary arteries and provide noninvasive assessments of blood flow and disease.

The company’s products include Heartflow Analysis, which provides fractional flow reserve computed tomography (FFR-CT) evaluations to help identify potentially significant blockages, as well as tools for assessing coronary plaque and planning treatment.