Heartflow (NASDAQ:HTFL) Trading Down 9.4% – Here’s What Happened

Heartflow, Inc. (NASDAQ:HTFL)’s share price fell 9.4% during mid-day trading on Monday . The company traded as low as $25.96 and last traded at $25.6530. 410,354 shares traded hands during trading, a decline of 70% from the average session volume of 1,381,949 shares. The stock had previously closed at $28.32.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HTFL. Canaccord Genuity Group dropped their price objective on Heartflow from $43.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday. Wells Fargo & Company upped their target price on shares of Heartflow from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday. JPMorgan Chase & Co. dropped their price target on Heartflow from $40.00 to $35.00 and set an “overweight” rating on the stock in a research note on Thursday, March 19th. Finally, William Blair initiated coverage on Heartflow in a research note on Monday, May 4th. They issued an “outperform” rating on the stock. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $37.00.

Heartflow Stock Performance

The stock has a market capitalization of $2.22 billion and a P/E ratio of -8.24. The company’s fifty day simple moving average is $27.28 and its two-hundred day simple moving average is $28.80.

Heartflow (NASDAQ:HTFL) last announced its earnings results on Thursday, May 14th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.24) by $0.08. The business had revenue of $52.59 million for the quarter. The company’s revenue was up 41.3% compared to the same quarter last year. On average, research analysts predict that Heartflow, Inc. will post -0.78 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Julie A. Cullivan sold 9,122 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $25.00, for a total value of $228,050.00. Following the completion of the transaction, the director owned 27,291 shares in the company, valued at $682,275. This trade represents a 25.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Bain Capital Life Sciences Inv sold 948,757 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $29.23, for a total transaction of $27,732,167.11. Following the completion of the sale, the insider directly owned 8,448,158 shares in the company, valued at approximately $246,939,658.34. This represents a 10.10% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 2,205,874 shares of company stock worth $64,166,729. Insiders own 7.70% of the company’s stock.

Institutional Trading of Heartflow

Several institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings in Heartflow by 20.8% in the fourth quarter. Wellington Management Group LLP now owns 5,894,070 shares of the company’s stock valued at $171,812,000 after acquiring an additional 1,014,006 shares during the last quarter. Baillie Gifford & Co. bought a new stake in Heartflow during the third quarter valued at $101,182,000. Bamco Inc. NY boosted its position in Heartflow by 86.2% during the fourth quarter. Bamco Inc. NY now owns 2,303,877 shares of the company’s stock valued at $67,158,000 after acquiring an additional 1,066,371 shares during the last quarter. Schusterman Interests LLC bought a new stake in Heartflow during the third quarter valued at $65,274,000. Finally, Capricorn Investment Group LLC bought a new stake in Heartflow during the fourth quarter valued at $48,178,000.

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.