Lazard Asset Management LLC Invests $928,000 in Heartflow, Inc. $HTFL

Lazard Asset Management LLC bought a new stake in Heartflow, Inc. (NASDAQ:HTFL) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 38,126 shares of the company’s stock, valued at approximately $928,000.

Several other hedge funds have also bought and sold shares of HTFL. Wellington Management Group LLP purchased a new position in Heartflow in the 3rd quarter worth approximately $164,263,000. Schusterman Interests LLC purchased a new stake in shares of Heartflow during the 3rd quarter valued at $65,274,000. Capricorn Investment Group LLC bought a new stake in shares of Heartflow during the 4th quarter worth $48,178,000. Vanguard Group Inc. purchased a new position in Heartflow in the third quarter worth $48,871,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Heartflow in the fourth quarter valued at $41,714,000.

Heartflow Stock Performance

HTFL opened at $27.17 on Thursday. The stock’s 50 day moving average price is $28.90 and its 200-day moving average price is $27.92. The stock has a market capitalization of $2.34 billion and a PE ratio of -8.74. Heartflow, Inc. has a 52-week low of $20.13 and a 52-week high of $41.22.

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

Analyst Ratings Changes

HTFL has been the topic of a number of research reports. William Blair assumed coverage on Heartflow in a research report on Monday, May 4th. They set an “outperform” rating on the stock. Stifel Nicolaus set a $40.00 price objective on Heartflow in a research report on Wednesday, July 15th. Freedom Capital raised Heartflow to a “strong-buy” rating in a report on Tuesday, June 30th. Robert W. Baird initiated coverage on Heartflow in a research note on Friday, July 31st. They issued an “outperform” rating and a $34.00 target price for the company. Finally, 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. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.57.

Insider Buying and Selling

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 transaction 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 document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John C.M. Farquhar sold 38,900 shares of the stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $35.00, for a total value of $1,361,500.00. Following the completion of the transaction, the chief executive officer owned 457,935 shares of the company’s stock, valued at approximately $16,027,725. This trade represents a 7.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 115,805 shares of company stock worth $3,548,884 in the last quarter. Company insiders own 7.70% of the company’s stock.

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.