M&G PLC Buys New Position in Heartflow, Inc. $HTFL

M&G PLC bought a new stake in Heartflow, Inc. (NASDAQ:HTFL) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 319,558 shares of the company’s stock, valued at approximately $15,978,000.

Several other large investors have also modified their holdings of HTFL. XXEC Inc. acquired a new stake in shares of Heartflow during the second quarter worth $2,524,764,000. BlackRock Inc. purchased a new position in Heartflow in the 2nd quarter valued at $152,502,000. Bamco Inc. NY acquired a new position in Heartflow in the 2nd quarter valued at $94,625,000. Jupiter Topco LLC acquired a new position in Heartflow in the 2nd quarter valued at $70,983,000. Finally, Janus Henderson Group PLC increased its stake 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 period.

Insiders Place Their Bets

In other news, insider Campbell Rogers sold 23,933 shares of the stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $55.01, for a total value of $1,316,554.33. Following the completion of the transaction, the insider owned 73,453 shares in the company, valued at $4,040,649.53. This trade represents a 24.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Farquhar sold 38,900 shares of the firm’s stock in a transaction dated Tuesday, November 10th. The shares were sold at an average price of $55.74, for a total transaction of $2,168,286.00. Following the completion of the sale, the chief executive officer owned 251,983 shares of the company’s stock, valued at $14,045,532.42. This trade represents a 13.37% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 347,963 shares of company stock worth $17,210,559. Corporate insiders own 7.70% of the company’s stock.

Heartflow Stock Performance

Heartflow stock opened at $55.80 on Wednesday. Heartflow, Inc. has a 1-year low of $20.13 and a 1-year high of $60.56. The stock’s 50 day moving average price is $51.56 and its 200 day moving average price is $34.87.

Heartflow (NASDAQ:HTFL) last announced its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.15. The firm had revenue of $64.08 million for the quarter. Heartflow had a negative return on equity of 23.52% and a negative net margin of 55.82%. The firm’s revenue was up 47.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Heartflow, Inc. will post -0.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wall Street Zen downgraded shares of Heartflow from a “buy” rating to a “hold” rating in a research report on Saturday. UBS Group started coverage on shares of Heartflow in a report on Wednesday, September 9th. They issued a “neutral” rating and a $55.00 target price on the stock. Wells Fargo & Company boosted their price target on shares of Heartflow from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. Morgan Stanley increased their price target on shares of Heartflow from $35.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, August 14th. Finally, Canaccord Genuity Group raised their price objective on shares of Heartflow from $45.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, September 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $48.62.

Heartflow Company Profile

HeartFlow, Inc. is a medical technology company that develops noninvasive tools to help clinicians assess coronary artery disease. Its platform analyzes coronary CT angiography scans to create personalized models of a patient’s coronary arteries and provide information that can support diagnosis and treatment planning. The company’s offerings include HeartFlow FFR CT Analysis, which estimates blood flow and the effects of artery narrowing, and tools for assessing coronary plaque. The technology combines medical imaging with computational analysis and artificial intelligence, giving clinicians information without requiring an invasive procedure to measure blood flow.