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

Heartflow, Inc. (NASDAQ:HTFL)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $51.36 and last traded at $51.2120, with a volume of 76614 shares changing hands. The stock had previously closed at $50.43.

Analysts Set New Price Targets

A number of research firms have weighed in on HTFL. Robert W. Baird set a $45.00 price objective on Heartflow in a research note on Friday, August 14th. Stifel Nicolaus raised their target price on Heartflow from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Wells Fargo & Company lifted their price target on Heartflow from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. Benchmark restated a “buy” rating on shares of Heartflow in a research report on Friday, August 14th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $45.00 price objective (up from $38.00) on shares of Heartflow in a research note on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Heartflow has an average rating of “Moderate Buy” and a consensus price target of $43.43.

Heartflow Price Performance

The stock has a market capitalization of $4.37 billion and a price-to-earnings ratio of -27.51. The stock has a 50 day moving average price of $32.90 and a 200-day moving average price of $29.39.

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

Insider Buying and Selling at Heartflow

In other Heartflow news, insider Campbell Rogers sold 9,219 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $41.23, for a total transaction of $380,099.37. Following the completion of the sale, the insider owned 86,459 shares of the company’s stock, valued at $3,564,704.57. This trade represents a 9.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John C.M. Farquhar sold 38,900 shares of the business’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $35.00, for a total transaction of $1,361,500.00. Following the completion of the sale, the chief executive officer owned 457,935 shares in the company, valued at approximately $16,027,725. This trade represents a 7.83% 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. In the last quarter, insiders have sold 191,271 shares of company stock worth $7,089,136. Insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Corient Private Wealth LP lifted its stake in Heartflow by 4.8% during the 2nd quarter. Corient Private Wealth LP now owns 52,724 shares of the company’s stock worth $1,547,000 after acquiring an additional 2,403 shares in the last quarter. Amundi purchased a new stake in shares of Heartflow during the 2nd quarter worth $360,000. California State Teachers Retirement System boosted its position in shares of Heartflow by 4,293.5% during the 2nd quarter. California State Teachers Retirement System now owns 1,290,403 shares of the company’s stock worth $37,860,000 after acquiring an additional 1,261,032 shares in the last quarter. Mayport LLC boosted its holdings in Heartflow by 20.0% in the second quarter. Mayport LLC now owns 12,000 shares of the company’s stock valued at $352,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Alyeska Investment Group L.P. boosted its holdings in shares of Heartflow by 55.6% in the 2nd quarter. Alyeska Investment Group L.P. now owns 350,000 shares of the company’s stock valued at $10,269,000 after buying an additional 125,000 shares in the last quarter.

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.