Heartflow (NASDAQ:HTFL) Stock Rating Upgraded by Freedom Capital

Heartflow (NASDAQ:HTFL) was upgraded by Freedom Capital to a “strong-buy” rating in a note issued to investors on Tuesday,Zacks.com reports.

HTFL has been the subject of several other reports. JPMorgan Chase & Co. reduced their price objective on Heartflow from $40.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday, March 19th. Wells Fargo & Company upped their price target on shares of Heartflow from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. Weiss Ratings raised Heartflow from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, June 12th. Piper Sandler restated an “overweight” rating on shares of Heartflow in a research report on Thursday, June 11th. Finally, Canaccord Genuity Group lowered their target price on Heartflow from $43.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.00.

Heartflow Price Performance

NASDAQ:HTFL opened at $27.97 on Tuesday. The company’s 50-day simple moving average is $30.66 and its 200 day simple moving average is $28.69. Heartflow has a one year low of $20.13 and a one year high of $41.22. The firm has a market capitalization of $2.41 billion and a P/E ratio of -8.99.

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

Insider Buying and Selling

In other Heartflow news, major shareholder Bain Capital Life Sciences Inv sold 948,757 shares of the company’s stock in a transaction dated 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 transaction, the insider directly owned 8,448,158 shares in the company, valued at $246,939,658.34. This represents a 10.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Campbell Rogers sold 9,219 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $28.34, for a total value of $261,266.46. Following the completion of the transaction, the insider directly owned 78,731 shares in the company, valued at approximately $2,231,236.54. This trade represents a 10.48% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 2,115,805 shares of company stock valued at $62,422,505 in the last 90 days. Company insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Heartflow

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