Heartflow (NASDAQ:HTFL) Hits New 12-Month High – Still a Buy?

Shares of Heartflow, Inc. (NASDAQ:HTFL) hit a new 52-week high during trading on Tuesday. The company traded as high as $57.93 and last traded at $57.7660, with a volume of 99,389 shares. The stock had previously closed at $57.01.

Wall Street Analysts Forecast Growth

HTFL has been the topic of several research reports. UBS Group initiated coverage on Heartflow in a research report on Wednesday, September 9th. They issued a “neutral” rating and a $55.00 target price on the stock. Robert W. Baird set a $45.00 price objective on Heartflow in a research report on Friday, August 14th. JPMorgan Chase & Co. lifted their target price on Heartflow from $35.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Stifel Nicolaus raised their target price on shares of Heartflow from $40.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, August 14th. Finally, Freedom Capital raised Heartflow to a “strong-buy” rating in a research report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $48.62.

Heartflow Stock Up 3.0%

The company has a market capitalization of $5.11 billion, a PE ratio of -32.04 and a beta of 2.73. The business has a 50 day simple moving average of $49.38 and a 200 day simple moving average of $33.51.

Heartflow (NASDAQ:HTFL) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) earnings per share 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. Heartflow’s revenue was up 47.7% compared to the same quarter last year. Equities analysts expect that Heartflow, Inc. will post -0.75 EPS for the current fiscal year.

Insider Transactions at Heartflow

In other Heartflow news, insider Campbell Rogers sold 23,933 shares of the company’s stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $55.01, for a total value of $1,316,554.33. Following the completion of the sale, the insider directly owned 73,453 shares in the company, valued at $4,040,649.53. This represents a 24.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vikram Verghese sold 29,714 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $50.06, for a total transaction of $1,487,482.84. Following the sale, the chief financial officer owned 184,789 shares of the company’s stock, valued at $9,250,537.34. This represents a 13.85% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 328,038 shares of company stock valued at $15,490,354. Corporate insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Heartflow

Institutional investors have recently added to or reduced their stakes in the stock. XXEC Inc. acquired a new position in Heartflow during the 2nd quarter worth approximately $2,524,764,000. BlackRock Inc. purchased a new position in shares of Heartflow during the 2nd quarter worth $152,502,000. Bamco Inc. NY purchased a new position in Heartflow during the second quarter worth approximately $94,625,000. Jupiter Topco LLC acquired a new position in shares of Heartflow during the 2nd quarter valued at $70,983,000. Finally, Janus Henderson Group PLC boosted its position in Heartflow by 152.0% in the 1st quarter. Janus Henderson Group PLC now owns 2,180,976 shares of the company’s stock valued at $53,063,000 after buying an additional 1,315,416 shares during the last quarter.

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.