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

Heartflow, Inc. (NASDAQ:HTFLGet Free Report)’s stock price traded up 7.1% during mid-day trading on Friday . The company traded as high as $48.30 and last traded at $48.7330. Approximately 880,384 shares traded hands during mid-day trading, a decline of 43% from the average session volume of 1,548,324 shares. The stock had previously closed at $45.49.

Wall Street Analyst Weigh In

Several research firms recently commented on HTFL. Stifel Nicolaus increased their price objective on Heartflow from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, August 14th. JPMorgan Chase & Co. increased their target price on shares of Heartflow from $35.00 to $45.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. Freedom Capital upgraded shares of Heartflow to a “strong-buy” rating in a research report on Tuesday, June 30th. Benchmark reaffirmed a “buy” rating on shares of Heartflow in a research note on Friday, August 14th. Finally, Canaccord Genuity Group increased their price objective on shares of Heartflow from $37.00 to $45.00 and gave the company a “buy” rating in a report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, eight have issued 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 presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.88.

Read Our Latest Analysis on Heartflow

Heartflow Trading Up 9.1%

The company has a fifty day simple moving average of $35.08 and a 200-day simple moving average of $30.65. The company has a market capitalization of $4.32 billion and a PE ratio of -27.13.

Heartflow (NASDAQ:HTFLGet Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.15. The business 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 company’s revenue was up 47.7% on a year-over-year basis. On average, equities analysts predict that Heartflow, Inc. will post -0.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other Heartflow news, CFO Vikram Verghese sold 27,540 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $49.69, for a total value of $1,368,462.60. Following the transaction, the chief financial officer directly owned 221,143 shares in the company, valued at $10,988,595.67. The trade was a 11.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Campbell Rogers sold 9,219 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $41.23, for a total transaction of $380,099.37. Following the completion of the sale, the insider directly owned 86,459 shares of the company’s stock, valued at approximately $3,564,704.57. This trade represents a 9.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 208,765 shares of company stock valued at $8,444,106 over the last ninety days. Company insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Heartflow

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd purchased a new stake in Heartflow in the 4th quarter valued at about $27,000. Russell Investments Group Ltd. purchased a new position in Heartflow during the fourth quarter worth about $45,000. Legal & General Group Plc acquired a new stake in shares of Heartflow during the third quarter valued at about $59,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Heartflow during the second quarter valued at about $53,000. Finally, Essential Partners LLC purchased a new stake in shares of Heartflow in the 1st quarter valued at approximately $57,000.

Heartflow Company Profile

(Get Free Report)

Heartflow, Inc is a medical technology company that develops artificial intelligence and imaging solutions for the diagnosis and management of coronary artery disease. Its platform analyzes data from coronary computed tomography angiography (CCTA) scans to create personalized, three-dimensional models of a patient’s coronary arteries.

The company’s primary offering, Heartflow Analysis, is designed to provide noninvasive estimates of fractional flow reserve derived from computed tomography (FFRCT).

Further Reading

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