Heartflow (NASDAQ:HTFL) Shares Gap Down – Should You Sell?

Shares of Heartflow, Inc. (NASDAQ:HTFL) gapped down before the market opened on Friday . The stock had previously closed at $32.24, but opened at $29.05. Heartflow shares last traded at $29.4250, with a volume of 371,315 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HTFL. Wells Fargo & Company increased their target price on shares of Heartflow from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday. Canaccord Genuity Group set a $37.00 target price on shares of Heartflow in a report on Friday. JPMorgan Chase & Co. reduced their target price on shares of Heartflow from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, March 19th. Finally, William Blair initiated coverage on shares of Heartflow in a report on Monday, May 4th. They set an “outperform” rating for the company. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Heartflow has an average rating of “Moderate Buy” and an average price target of $37.00.

Heartflow Price Performance

The firm has a 50-day moving average of $27.19 and a 200 day moving average of $28.87. The stock has a market capitalization of $2.53 billion and a price-to-earnings ratio of -14.64.

Heartflow (NASDAQ:HTFL) last announced its quarterly earnings results on Thursday, May 14th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.08. The firm had revenue of $52.59 million during the quarter. The firm’s revenue was up 41.3% on a year-over-year basis. On average, equities analysts forecast that Heartflow, Inc. will post -0.78 earnings per share for the current year.

Insider Activity

In other news, Director Julie A. Cullivan sold 9,122 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $25.00, for a total value of $228,050.00. Following the completion of the sale, the director directly owned 27,291 shares of the company’s stock, valued at $682,275. This trade represents a 25.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Bain Capital Life Sciences Inv sold 948,757 shares of the firm’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $29.23, for a total value of $27,732,167.11. Following the completion of the sale, the insider directly owned 8,448,158 shares of the company’s stock, valued at approximately $246,939,658.34. The trade was a 10.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 2,205,874 shares of company stock worth $64,166,729. 7.70% of the stock is owned by insiders.

Institutional Trading of Heartflow

A number of hedge funds have recently made changes to their positions in the business. TrueMark Investments LLC lifted its position 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 buying an additional 379 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Heartflow during the 4th quarter worth about $27,000. Strs Ohio lifted its stake 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 last quarter. Russell Investments Group Ltd. acquired a new stake in shares of Heartflow during the 4th quarter worth about $45,000. Finally, Legal & General Group Plc acquired a new stake in shares of Heartflow during the 3rd quarter worth about $59,000.

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.