Heartflow (NASDAQ:HTFL) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Heartflow (NASDAQ:HTFL) from a buy rating to a hold rating in a research note published on Saturday,Wall Street Zen reports.

Several other equities research analysts have also commented on HTFL. Wells Fargo & Company boosted their price objective on Heartflow from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Friday, August 14th. Weiss Ratings upgraded Heartflow from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, August 7th. UBS Group began coverage on Heartflow in a research note on Wednesday, September 9th. They issued a “neutral” rating and a $55.00 price target on the stock. Robert W. Baird set a $45.00 price target on Heartflow in a research report on Friday, August 14th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Heartflow presently has a consensus rating of “Moderate Buy” and an average price target of $46.25.

Heartflow Price Performance

HTFL stock opened at $51.02 on Friday. The firm has a 50-day simple moving average of $47.70 and a 200-day simple moving average of $35.53. Heartflow has a 52 week low of $20.13 and a 52 week high of $54.32.

Heartflow (NASDAQ:HTFL) last issued its quarterly earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.15. The firm 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. On average, analysts predict that Heartflow will post -0.75 EPS for the current fiscal year.

Insider Activity

In related news, CFO Vikram Verghese sold 29,714 shares of the firm’s stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $50.06, for a total transaction of $1,487,482.84. Following the completion of the sale, the chief financial officer directly owned 184,789 shares in the company, valued at approximately $9,250,537.34. This trade represents a 13.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Campbell Rogers sold 19,682 shares of Heartflow stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $50.15, for a total transaction of $987,052.30. Following the transaction, the insider directly owned 79,956 shares in the company, valued at $4,009,793.40. This trade represents a 19.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 304,105 shares of company stock valued at $14,173,800. 7.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Heartflow

Several institutional investors and hedge funds have recently bought and sold shares of HTFL. IFP Advisors Inc increased its position in shares of Heartflow by 844.7% during the 3rd quarter. IFP Advisors Inc now owns 803 shares of the company’s stock worth $40,000 after purchasing an additional 718 shares during the last quarter. Vontobel Holding Ltd. purchased a new stake in Heartflow in the 3rd quarter valued at about $1,020,000. Avior Wealth Management LLC lifted its position in Heartflow by 16.1% in the third quarter. Avior Wealth Management LLC now owns 14,553 shares of the company’s stock valued at $724,000 after buying an additional 2,023 shares during the last quarter. Capital Advisors Wealth Management LLC acquired a new position in Heartflow in the third quarter valued at about $224,000. Finally, GAMMA Investing LLC boosted its stake in Heartflow by 75.1% during the third quarter. GAMMA Investing LLC now owns 641 shares of the company’s stock worth $32,000 after buying an additional 275 shares during the period.

About Heartflow

HeartFlow, Inc is a medical technology company focused on improving the diagnosis and management of coronary artery disease. The company develops software and clinical tools that use artificial intelligence, advanced image analysis and data from coronary computed tomography angiography (CCTA) scans to provide noninvasive assessments of blood flow and potential blockages in the heart.

Its principal product is the HeartFlow Analysis, which creates a personalized, three-dimensional model of a patient’s coronary arteries and can estimate the impact of blockages on blood flow.