Heartflow (NASDAQ:HTFL) Price Target Raised to $56.00

Heartflow (NASDAQ:HTFL) had its price objective upped by Canaccord Genuity Group from $45.00 to $56.00 in a research report released on Tuesday, MarketBeat.com reports. Canaccord Genuity Group currently has a buy rating on the stock.

A number of other research firms have also recently issued reports on HTFL. Benchmark reiterated a “buy” rating on shares of Heartflow in a report on Friday, August 14th. Freedom Capital upgraded Heartflow to a “strong-buy” rating in a report on Tuesday, June 30th. JPMorgan Chase & Co. increased their price objective on Heartflow from $35.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. Piper Sandler reissued an “overweight” rating and issued a $45.00 target price (up from $38.00) on shares of Heartflow in a research report on Friday, August 14th. Finally, Morgan Stanley boosted their target price on Heartflow from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, August 14th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Heartflow has an average rating of “Moderate Buy” and a consensus price target of $46.25.

Heartflow Trading Up 2.7%

NASDAQ:HTFL opened at $48.66 on Tuesday. The stock has a 50-day moving average price of $39.59 and a two-hundred day moving average price of $32.46. Heartflow has a 1 year low of $20.13 and a 1 year high of $52.22. The stock has a market cap of $4.23 billion and a price-to-earnings ratio of -26.59.

Heartflow (NASDAQ:HTFL) last announced its earnings results on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate 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 business’s quarterly revenue was up 47.7% on a year-over-year basis. Sell-side analysts forecast that Heartflow will post -0.75 earnings per share for the current year.

Insider Transactions at Heartflow

In related news, CEO John Farquhar sold 35,010 shares of Heartflow stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $46.42, for a total transaction of $1,625,164.20. Following the completion of the transaction, the chief executive officer owned 325,804 shares in the company, valued at approximately $15,123,821.68. This trade represents a 9.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Campbell Rogers sold 19,682 shares of the business’s stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $50.15, for a total value of $987,052.30. Following the transaction, the insider directly owned 79,956 shares in the company, valued at approximately $4,009,793.40. This trade represents a 19.75% 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 287,767 shares of company stock worth $12,871,623 in the last ninety days. Insiders own 7.70% of the company’s stock.

Institutional Trading of Heartflow

A number of hedge funds have recently made changes to their positions in HTFL. Integrated Wealth Concepts LLC acquired a new position in shares of Heartflow during the 2nd quarter worth approximately $53,000. Essential Partners LLC acquired a new stake in Heartflow during the 1st quarter valued at $57,000. Caitong International Asset Management Co. Ltd bought a new position in Heartflow during the fourth quarter worth $72,000. Strs Ohio boosted its position in Heartflow by 35.3% during the first quarter. Strs Ohio now owns 4,600 shares of the company’s stock worth $112,000 after purchasing an additional 1,200 shares during the period. Finally, Bessemer Group Inc. acquired a new position in shares of Heartflow in the first quarter valued at $126,000.

About Heartflow

Heartflow, Inc is a medical technology company that develops artificial intelligence and imaging solutions for the diagnosis and management of coronary artery disease. Its platform analyzes data from coronary computed tomography angiography (CCTA) scans to create personalized, three-dimensional models of a patient’s coronary arteries.

The company’s primary offering, Heartflow Analysis, is designed to provide noninvasive estimates of fractional flow reserve derived from computed tomography (FFR^CT).