Brokerages Set Heartflow, Inc. (NASDAQ:HTFL) Target Price at $37.00

Shares of Heartflow, Inc. (NASDAQ:HTFL) have been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $37.00.

A number of equities analysts have issued reports on HTFL shares. William Blair assumed coverage on Heartflow in a report on Monday, May 4th. They issued an “outperform” rating for the company. Piper Sandler reiterated an “overweight” rating on shares of Heartflow in a report on Thursday, June 11th. Stifel Nicolaus set a $40.00 target price on Heartflow in a research note on Wednesday, July 15th. Wells Fargo & Company increased their price target on shares of Heartflow from $35.00 to $37.00 and gave the company an “overweight” rating in a research report on Friday, May 15th. Finally, Canaccord Genuity Group lowered their price target 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.

Heartflow Price Performance

Shares of Heartflow stock opened at $24.12 on Friday. Heartflow has a 1 year low of $20.13 and a 1 year high of $41.22. The firm has a market cap of $2.08 billion and a PE ratio of -7.76. The stock has a fifty day moving average price of $29.25 and a 200-day moving average price of $28.32.

Heartflow (NASDAQ:HTFL) last announced its earnings results on Thursday, May 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.08. The company had revenue of $52.59 million during the quarter. The firm’s revenue for the quarter was up 41.3% compared to the same quarter last year. As a group, equities analysts anticipate that Heartflow will post -0.82 EPS for the current fiscal year.

Insider Buying and Selling at Heartflow

In other news, major shareholder Bain Capital Life Sciences Inv sold 948,757 shares of Heartflow 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 owned 8,448,158 shares in the company, valued at approximately $246,939,658.34. This trade represents a 10.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Campbell Rogers sold 9,219 shares of Heartflow stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $28.34, for a total transaction of $261,266.46. Following the completion of the transaction, the insider owned 78,731 shares of the company’s stock, valued at $2,231,236.54. This represents a 10.48% 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 sold a total of 2,115,805 shares of company stock worth $62,445,744 in the last three months. 7.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

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