Wellington Management Group LLP Sells 4,118,057 Shares of Heartflow, Inc. $HTFL

Wellington Management Group LLP cut its position in Heartflow, Inc. (NASDAQ:HTFL) by 34.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,864,226 shares of the company’s stock after selling 4,118,057 shares during the period. Wellington Management Group LLP owned 9.12% of Heartflow worth $230,736,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. XXEC Inc. bought a new position in Heartflow in the 2nd quarter valued at $2,524,764,000. Quantinno Capital Management LP bought a new stake in shares of Heartflow during the first quarter worth $1,734,000. Sei Investments Co. increased its stake in shares of Heartflow by 342.5% in the first quarter. Sei Investments Co. now owns 67,048 shares of the company’s stock valued at $1,631,000 after buying an additional 51,895 shares in the last quarter. Handelsbanken Fonder AB bought a new position in shares of Heartflow in the second quarter valued at about $910,000. Finally, Walleye Capital LLC acquired a new position in Heartflow during the 2nd quarter worth about $8,760,000.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Canaccord Genuity Group increased their price objective on shares of Heartflow from $37.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, August 14th. Wells Fargo & Company upped their target price on shares of Heartflow from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Benchmark reissued a “buy” rating on shares of Heartflow in a research note on Friday, August 14th. Weiss Ratings raised shares of Heartflow from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 7th. Finally, Morgan Stanley boosted their price objective on shares of Heartflow from $35.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $43.43.

Insiders Place Their Bets

In other Heartflow news, insider Campbell Rogers sold 9,219 shares of Heartflow stock in a transaction 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 owned 86,459 shares of the company’s stock, valued at approximately $3,564,704.57. The trade was a 9.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John C.M. Farquhar sold 27,230 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $50.00, for a total transaction of $1,361,500.00. Following the sale, the chief executive officer owned 360,814 shares of the company’s stock, valued at $18,040,700. The trade was a 7.02% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 191,271 shares of company stock valued at $7,089,136 in the last ninety days. Company insiders own 7.70% of the company’s stock.

Heartflow Stock Performance

Shares of NASDAQ:HTFL opened at $47.78 on Monday. Heartflow, Inc. has a 1-year low of $20.13 and a 1-year high of $51.19. The stock has a market capitalization of $4.15 billion and a P/E ratio of -26.11. The business has a 50-day moving average price of $32.25 and a two-hundred day moving average price of $29.06.

Heartflow (NASDAQ:HTFL) last issued its earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.15. The company had revenue of $64.08 million for the quarter. Heartflow had a negative net margin of 55.82% and a negative return on equity of 23.52%. The firm’s revenue was up 47.7% on a year-over-year basis. As a group, equities analysts predict that Heartflow, Inc. will post -0.75 EPS for the current year.

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.