Heartflow (NASDAQ:HTFL) Shares Up 6.5% – Here’s What Happened

Shares of Heartflow, Inc. (NASDAQ:HTFL) rose 6.5% on Tuesday . The company traded as high as $44.32 and last traded at $44.6610. 1,241,238 shares traded hands during trading, a decline of 17% from the average session volume of 1,490,980 shares. The stock had previously closed at $41.94.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Benchmark reaffirmed a “buy” rating on shares of Heartflow in a report on Friday. Robert W. Baird set a $45.00 price target on shares of Heartflow in a research note on Friday. Freedom Capital upgraded shares of Heartflow to a “strong-buy” rating in a research report on Tuesday, June 30th. Morgan Stanley increased their price objective on Heartflow from $35.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, William Blair started coverage on Heartflow in a report on Monday, May 4th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.43.

Heartflow Price Performance

The stock has a 50-day moving average price of $29.35 and a 200 day moving average price of $27.85. The company has a market cap of $3.85 billion and a price-to-earnings ratio of -24.39.

Heartflow (NASDAQ:HTFL) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.15. Heartflow had a negative net margin of 55.82% and a negative return on equity of 23.50%. The company had revenue of $64.08 million during the quarter. Heartflow’s revenue for the quarter was up 47.7% compared to the same quarter last year. Sell-side analysts expect that Heartflow, Inc. will post -0.82 EPS for the current fiscal year.

Insider Activity at Heartflow

In other news, CEO John C.M. Farquhar sold 22,562 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $28.31, for a total value of $638,730.22. Following the sale, the chief executive officer owned 436,280 shares of the company’s stock, valued at $12,351,086.80. The trade was a 4.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 106,586 shares of company stock valued at $3,269,343 over the last 90 days. Insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of HTFL. Caitong International Asset Management Co. Ltd bought a new position in Heartflow in the fourth quarter valued at approximately $27,000. Russell Investments Group Ltd. acquired a new stake in shares of Heartflow in the 4th quarter valued at approximately $45,000. Essential Partners LLC bought a new position in shares of Heartflow in the first quarter valued at $57,000. Legal & General Group Plc acquired a new position in Heartflow during the third quarter worth $59,000. Finally, Strs Ohio bought a new stake in Heartflow during the fourth quarter worth $99,000.

Heartflow Company Profile

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.