Analysts Set Heartflow, Inc. (NASDAQ:HTFL) Price Target at $38.50

Heartflow, Inc. (NASDAQ:HTFL) has been given an average rating of “Moderate Buy” by the eight ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $38.50.

HTFL has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Heartflow from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Wells Fargo & Company began coverage on Heartflow in a report on Wednesday, January 28th. They set an “overweight” rating and a $38.00 price target on the stock. Canaccord Genuity Group lifted their price objective on shares of Heartflow from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 13th. Stifel Nicolaus increased their target price on shares of Heartflow from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 13th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Heartflow in a report on Monday, December 29th.

Heartflow Trading Up 4.7%

Shares of Heartflow stock opened at $24.09 on Tuesday. The business has a 50-day moving average price of $29.23 and a two-hundred day moving average price of $31.28. Heartflow has a 1-year low of $20.13 and a 1-year high of $41.22. The company has a market cap of $2.05 billion and a P/E ratio of -13.31.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Wellington Management Group LLP increased its position in shares of Heartflow by 20.8% during the fourth quarter. Wellington Management Group LLP now owns 5,894,070 shares of the company’s stock worth $171,812,000 after acquiring an additional 1,014,006 shares in the last quarter. Baillie Gifford & Co. acquired a new position in Heartflow during the 3rd quarter valued at about $101,182,000. Bamco Inc. NY increased its holdings in Heartflow by 86.2% during the 4th quarter. Bamco Inc. NY now owns 2,303,877 shares of the company’s stock worth $67,158,000 after purchasing an additional 1,066,371 shares in the last quarter. Schusterman Interests LLC purchased a new stake in shares of Heartflow in the third quarter worth approximately $65,274,000. Finally, Capricorn Investment Group LLC bought a new position in shares of Heartflow in the fourth quarter valued at approximately $48,178,000.

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.