Heartflow (NASDAQ:HTFL) Trading 8.4% Higher – Still a Buy?

Heartflow, Inc. (NASDAQ:HTFL)’s stock price shot up 8.4% during trading on Tuesday . The company traded as high as $22.46 and last traded at $22.39. 1,844,682 shares were traded during mid-day trading, an increase of 21% from the average session volume of 1,518,833 shares. The stock had previously closed at $20.66.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of Heartflow in a research note on Monday, December 29th. JPMorgan Chase & Co. boosted their target price on Heartflow from $36.00 to $40.00 and gave the stock an “overweight” rating in a research note on Thursday, November 13th. Wells Fargo & Company started coverage on shares of Heartflow in a research note on Wednesday, January 28th. They issued an “overweight” rating and a $38.00 price target on the stock. Canaccord Genuity Group increased their target price on shares of Heartflow from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Finally, Stifel Nicolaus boosted their price target on shares of Heartflow from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $38.50.

Heartflow Stock Up 7.8%

The company has a market cap of $1.90 billion and a P/E ratio of -12.30. The company has a 50-day simple moving average of $29.74.

Insider Buying and Selling at Heartflow

In other news, Director Jeffrey C. Lightcap purchased 40,000 shares of the stock in a transaction dated Tuesday, December 16th. The stock was acquired at an average cost of $26.34 per share, for a total transaction of $1,053,600.00. Following the completion of the acquisition, the director directly owned 40,000 shares in the company, valued at $1,053,600. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Julie A. Cullivan sold 8,000 shares of the stock in a transaction on Thursday, February 5th. The stock was sold at an average price of $27.32, for a total value of $218,560.00. Following the transaction, the director directly owned 36,413 shares in the company, valued at approximately $994,803.16. This represents a 18.01% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 2,030,562 shares of company stock valued at $56,938,113.

Hedge Funds Weigh In On Heartflow

A number of large investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in Heartflow during the fourth quarter worth approximately $27,000. TFC Financial Management Inc. acquired a new position in shares of Heartflow during the 3rd quarter valued at $40,000. Russell Investments Group Ltd. purchased a new stake in Heartflow during the 4th quarter worth $45,000. Legal & General Group Plc acquired a new stake in Heartflow in the 3rd quarter valued at $59,000. Finally, Strs Ohio purchased a new position in Heartflow in the fourth quarter valued at about $99,000.

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.