Heartflow (NASDAQ:HTFL) Upgraded by Freedom Capital to Strong-Buy Rating

Heartflow (NASDAQ:HTFL) was upgraded by investment analysts at Freedom Capital to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

HTFL has been the topic of a number of other research reports. Canaccord Genuity Group dropped their target price on Heartflow from $43.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Wells Fargo & Company increased their price target on Heartflow from $35.00 to $37.00 and gave the stock an “overweight” rating in a report on Friday, May 15th. William Blair initiated coverage on shares of Heartflow in a research note on Monday, May 4th. They issued an “outperform” rating on the stock. Weiss Ratings upgraded shares of Heartflow from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, June 12th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Heartflow from $40.00 to $35.00 and set an “overweight” rating for the company in a research note on Thursday, March 19th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $37.00.

Heartflow Stock Down 8.9%

NASDAQ HTFL opened at $27.97 on Tuesday. Heartflow has a 52-week low of $20.13 and a 52-week high of $41.22. The business’s 50-day moving average price is $30.66 and its 200 day moving average price is $28.69. The firm has a market cap of $2.41 billion and a P/E ratio of -8.99.

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

Insider Activity

In related news, 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 value of $261,266.46. Following the sale, the insider directly owned 78,731 shares in the company, valued at $2,231,236.54. The trade was a 10.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder Bain Capital Life Sciences Inv sold 948,757 shares of the company’s stock in a transaction on 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 transaction, the insider directly owned 8,448,158 shares in the company, valued at $246,939,658.34. This represents a 10.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 2,115,805 shares of company stock valued at $62,422,505 in the last three months. 7.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Heartflow

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP purchased a new position in Heartflow in the third quarter valued at about $164,263,000. Schusterman Interests LLC purchased a new stake in shares of Heartflow during the 3rd quarter worth approximately $65,274,000. Capricorn Investment Group LLC acquired a new stake in shares of Heartflow in the 4th quarter worth approximately $48,178,000. Vanguard Group Inc. acquired a new stake in shares of Heartflow in the 3rd quarter worth approximately $48,871,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Heartflow in the 4th quarter valued at approximately $41,714,000.

About Heartflow

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.