Heartflow (NASDAQ:HTFL) Stock Price Up 7.1% – Here’s Why

Shares of Heartflow, Inc. (NASDAQ:HTFL) were up 7.1% on Wednesday . The company traded as high as $27.39 and last traded at $27.3110. 199,673 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 1,482,831 shares. The stock had previously closed at $25.49.

Analyst Ratings Changes

Several brokerages have issued reports on HTFL. JPMorgan Chase & Co. dropped their target price on Heartflow from $40.00 to $35.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. Stifel Nicolaus set a $40.00 price objective on shares of Heartflow in a research note on Wednesday. Canaccord Genuity Group dropped their price objective on shares of Heartflow from $43.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Wells Fargo & Company upped their target price on shares of Heartflow from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, May 15th. Finally, Piper Sandler reiterated an “overweight” rating on shares of Heartflow in a research report on Thursday, June 11th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Heartflow currently has an average rating of “Moderate Buy” and an average price target of $37.00.

Heartflow Price Performance

The stock’s 50-day simple moving average is $29.89 and its two-hundred day simple moving average is $28.54. The firm has a market capitalization of $2.24 billion and a P/E ratio of -8.35.

Heartflow (NASDAQ:HTFL) last announced its quarterly earnings data on Thursday, May 14th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.08. The firm had revenue of $52.59 million for the quarter. The business’s quarterly revenue was up 41.3% compared to the same quarter last year. On average, analysts forecast that Heartflow, Inc. will post -0.82 earnings per share for the current fiscal year.

Insider Buying and Selling at Heartflow

In other news, insider Campbell Rogers sold 9,219 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $28.34, for a total value of $261,266.46. Following the transaction, the insider directly owned 78,731 shares in the company, valued at $2,231,236.54. The trade was a 10.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Bain Capital Life Sciences Inv sold 948,757 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $29.23, for a total value of $27,732,167.11. Following the completion of the transaction, the insider directly owned 8,448,158 shares of the company’s stock, valued at approximately $246,939,658.34. This trade represents a 10.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 2,115,805 shares of company stock valued at $62,445,744 over the last ninety days. 7.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Heartflow

A number of institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd bought a new stake in shares of Heartflow during the fourth quarter valued at approximately $27,000. Russell Investments Group Ltd. purchased a new position in Heartflow during the fourth quarter valued at $45,000. Legal & General Group Plc bought a new stake in Heartflow in the 3rd quarter valued at $59,000. Essential Partners LLC bought a new stake in Heartflow in the 1st quarter valued at $57,000. Finally, Strs Ohio purchased a new stake in Heartflow in the 4th quarter worth $99,000.

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.