Wall Street Zen Upgrades Heartflow (NASDAQ:HTFL) to Buy

Heartflow (NASDAQ:HTFL) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Other analysts also recently issued research reports about the stock. Morgan Stanley raised their price target on shares of Heartflow from $35.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, August 14th. Benchmark reissued a “buy” rating on shares of Heartflow in a report on Friday, August 14th. Piper Sandler restated an “overweight” rating and set a $45.00 price objective (up from $38.00) on shares of Heartflow in a research report on Friday, August 14th. Weiss Ratings upgraded shares of Heartflow from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 7th. Finally, Wells Fargo & Company lifted their target price on shares of Heartflow from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. One equities 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 given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $46.25.

Heartflow Price Performance

HTFL stock opened at $49.32 on Friday. The stock has a market capitalization of $4.29 billion, a P/E ratio of -26.95 and a beta of 2.73. Heartflow has a 1-year low of $20.13 and a 1-year high of $52.22. The business has a fifty day moving average price of $42.57 and a 200-day moving average price of $33.64.

Heartflow (NASDAQ:HTFL) last released its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate 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 company had revenue of $64.08 million for the quarter. The firm’s revenue was up 47.7% compared to the same quarter last year. As a group, analysts anticipate that Heartflow will post -0.75 earnings per share for the current year.

Insider Transactions at Heartflow

In related news, insider Campbell Rogers sold 19,682 shares of the firm’s stock in a transaction that occurred on Friday, September 18th. The shares were sold at an average price of $50.15, for a total value of $987,052.30. Following the transaction, the insider owned 79,956 shares of the company’s stock, valued at approximately $4,009,793.40. This trade represents a 19.75% decrease in their ownership of the stock. The transaction was disclosed in a 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 business’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $46.42, for a total transaction of $1,625,164.20. Following 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 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 have sold 287,767 shares of company stock worth $12,871,623 in the last quarter. Company insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Heartflow

A number of hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC purchased a new position in Heartflow during the second quarter valued at $53,000. Essential Partners LLC purchased a new stake in Heartflow in the first quarter worth about $57,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Heartflow in the fourth quarter worth about $72,000. Strs Ohio raised its stake in shares of Heartflow by 35.3% in the first quarter. Strs Ohio now owns 4,600 shares of the company’s stock worth $112,000 after buying an additional 1,200 shares during the period. Finally, Bessemer Group Inc. purchased a new position in shares of Heartflow during the 1st quarter valued at about $126,000.

About Heartflow

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.