JPMorgan Chase & Co. Acquires New Holdings in Heartflow, Inc. $HTFL

JPMorgan Chase & Co. bought a new position in Heartflow, Inc. (NASDAQ:HTFL) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 412,565 shares of the company’s stock, valued at approximately $13,887,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HTFL. TFC Financial Management Inc. bought a new position in shares of Heartflow in the third quarter valued at approximately $40,000. Y Intercept Hong Kong Ltd acquired a new position in Heartflow in the 3rd quarter valued at $234,000. TrueMark Investments LLC acquired a new position in Heartflow during the 3rd quarter worth $918,000. Lisanti Capital Growth LLC bought a new stake in Heartflow during the third quarter valued at about $982,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of Heartflow in the third quarter valued at about $4,015,000.

Heartflow Trading Up 0.3%

Shares of NASDAQ:HTFL opened at $23.93 on Thursday. The firm has a market capitalization of $2.04 billion and a PE ratio of -13.22. Heartflow, Inc. has a 1-year low of $20.13 and a 1-year high of $41.22. The business’s 50 day moving average is $28.68 and its 200-day moving average is $31.05.

Insider Activity

In related news, insider Campbell Rogers sold 65,153 shares of the stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $24.49, for a total value of $1,595,596.97. Following the completion of the transaction, the insider owned 76,034 shares of the company’s stock, valued at $1,862,072.66. This represents a 46.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Bain Capital Life Sciences Inv sold 2,000,000 shares of Heartflow stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $28.05, for a total value of $56,100,000.00. Following the sale, the insider directly owned 10,448,158 shares in the company, valued at $293,070,831.90. The trade was a 16.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 2,095,715 shares of company stock valued at $58,533,709.

Wall Street Analyst Weigh In

HTFL has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Heartflow from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday, November 13th. Stifel Nicolaus lifted their price target on Heartflow from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, November 13th. Wells Fargo & Company initiated coverage on Heartflow in a report on Wednesday, January 28th. They set an “overweight” rating and a $38.00 price target for the company. Canaccord Genuity Group raised their price objective on shares of Heartflow from $39.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Heartflow in a research note on Monday, December 29th. Five research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.50.

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.