Heartflow (NASDAQ:HTFL) Stock Price Up 7.1% – Here’s Why

Heartflow, Inc. (NASDAQ:HTFL)’s stock price was up 7.1% during trading on Friday . The company traded as high as $48.30 and last traded at $48.7330. Approximately 880,384 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 1,548,324 shares. The stock had previously closed at $45.49.

Analyst Ratings Changes

A number of research analysts have commented on HTFL shares. Freedom Capital upgraded Heartflow to a “strong-buy” rating in a research note on Tuesday, June 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $45.00 target price (up from $38.00) on shares of Heartflow 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 stock an “overweight” rating in a report on Friday, August 14th. Stifel Nicolaus upped their target price on shares of Heartflow from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, August 14th. Finally, Robert W. Baird set a $45.00 target price on Heartflow in a research report on Friday, August 14th. One research 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 stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $44.88.

Heartflow Stock Up 9.7%

The company has a market cap of $4.34 billion and a price-to-earnings ratio of -27.26. The company has a fifty day simple moving average of $35.52 and a two-hundred day simple moving average of $30.78.

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

Insider Transactions at Heartflow

In other Heartflow news, insider Campbell Rogers sold 9,219 shares of the 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 sale, the insider owned 86,459 shares in the company, valued at approximately $3,564,704.57. This represents a 9.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vikram Verghese sold 27,540 shares of the business’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $49.69, for a total value of $1,368,462.60. Following the completion of the transaction, the chief financial officer directly owned 221,143 shares of the company’s stock, valued at approximately $10,988,595.67. This trade represents a 11.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 208,765 shares of company stock valued at $8,444,106 in the last ninety days. Corporate insiders own 7.70% of the company’s stock.

Institutional Trading of Heartflow

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. purchased a new position in Heartflow in the 3rd quarter valued at about $48,871,000. Legal & General Group Plc purchased a new stake in shares of Heartflow during the third quarter worth about $59,000. Franklin Resources Inc. acquired a new position in shares of Heartflow in the third quarter valued at approximately $10,829,000. UBS Group AG purchased a new position in shares of Heartflow during the 3rd quarter worth $5,130,000. Finally, Sei Investments Co. purchased a new stake in shares of Heartflow in the third quarter valued at $303,000.

Heartflow Company Profile

Heartflow, Inc is a medical technology company that develops artificial intelligence and imaging solutions for the diagnosis and management of coronary artery disease. Its platform analyzes data from coronary computed tomography angiography (CCTA) scans to create personalized, three-dimensional models of a patient’s coronary arteries.

The company’s primary offering, Heartflow Analysis, is designed to provide noninvasive estimates of fractional flow reserve derived from computed tomography (FFR^CT).