Heartflow (NASDAQ:HTFL) Sets New 52-Week High – Time to Buy?

Heartflow, Inc. (NASDAQ:HTFL) shares reached a new 52-week high during mid-day trading on Tuesday. The stock traded as high as $54.82 and last traded at $54.6360, with a volume of 765,055 shares. The stock had previously closed at $51.02.

Analyst Ratings Changes

A number of brokerages have weighed in on HTFL. Piper Sandler reaffirmed an “overweight” rating and issued a $64.00 price objective (up from $45.00) on shares of Heartflow in a report on Tuesday. Canaccord Genuity Group lifted their price objective on Heartflow from $45.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, September 22nd. Wall Street Zen cut shares of Heartflow from a “buy” rating to a “hold” rating in a research note on Saturday. Stifel Nicolaus raised their price objective on Heartflow from $40.00 to $45.00 and gave the company a “buy” rating in a research 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 equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Heartflow has a consensus rating of “Moderate Buy” and a consensus target price of $48.62.

Heartflow Price Performance

The firm has a market cap of $4.78 billion, a price-to-earnings ratio of -30.05 and a beta of 2.73. The stock’s fifty day moving average price is $47.70 and its 200-day moving average price is $35.53.

Heartflow (NASDAQ:HTFL) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.15. Heartflow had a negative net margin of 55.82% and a negative return on equity of 23.52%. The firm 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, equities research analysts predict that Heartflow, Inc. will post -0.75 EPS for the current fiscal year.

Insider Transactions at Heartflow

In other Heartflow news, CFO Vikram Verghese sold 16,766 shares of the company’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $50.75, for a total transaction of $850,874.50. Following the completion of the sale, the chief financial officer owned 155,183 shares in the company, valued at approximately $7,875,537.25. The trade was a 9.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Campbell Rogers sold 19,682 shares of Heartflow stock in a transaction dated Friday, September 18th. The stock was 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 in the company, valued at approximately $4,009,793.40. This represents a 19.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 304,105 shares of company stock valued at $14,173,800. Corporate insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Heartflow

Large investors have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in Heartflow by 75.1% during the third quarter. GAMMA Investing LLC now owns 641 shares of the company’s stock worth $32,000 after purchasing an additional 275 shares during the period. TrueMark Investments LLC increased its holdings in shares of Heartflow by 1.4% in the first quarter. TrueMark Investments LLC now owns 26,885 shares of the company’s stock valued at $654,000 after purchasing an additional 379 shares during the last quarter. IFP Advisors Inc raised its position in shares of Heartflow by 844.7% in the third quarter. IFP Advisors Inc now owns 803 shares of the company’s stock valued at $40,000 after purchasing an additional 718 shares during the period. Strs Ohio boosted its holdings in shares of Heartflow by 35.3% during the 1st 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, Integrated Wealth Concepts LLC bought a new position in Heartflow in the 2nd quarter valued at about $53,000.

About Heartflow

Heartflow, Inc is a medical technology company that develops artificial intelligence-based tools to help physicians diagnose and manage coronary artery disease. Its platform uses data from coronary computed tomography angiography (CCTA) scans to create personalized, three-dimensional models of a patient’s coronary arteries and provide noninvasive assessments of blood flow and disease.

The company’s products include Heartflow Analysis, which provides fractional flow reserve computed tomography (FFR-CT) evaluations to help identify potentially significant blockages, as well as tools for assessing coronary plaque and planning treatment.