XXEC Inc. Invests $1 Million in Heartflow, Inc. $HTFL

XXEC Inc. bought a new stake in Heartflow, Inc. (NASDAQ:HTFL) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 29,832 shares of the company’s stock, valued at approximately $1,004,000. Heartflow makes up about 0.9% of XXEC Inc.’s investment portfolio, making the stock its 20th largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HTFL. Wellington Management Group LLP acquired a new position in shares of Heartflow during the 3rd quarter worth about $164,263,000. Baillie Gifford & Co. acquired a new stake in shares of Heartflow in the third quarter valued at about $101,182,000. Schusterman Interests LLC bought a new stake in Heartflow during the third quarter worth about $65,274,000. Vanguard Group Inc. acquired a new position in Heartflow during the third quarter valued at approximately $48,871,000. Finally, Capital International Investors acquired a new position in Heartflow during the third quarter valued at approximately $43,671,000.

Analysts Set New Price Targets

Several research analysts have weighed in on HTFL shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Heartflow in a research report on Monday, December 29th. Wells Fargo & Company began coverage on shares of Heartflow in a research note on Wednesday, January 28th. They issued an “overweight” rating and a $38.00 target price for the company. Finally, Canaccord Genuity Group restated a “buy” rating and set a $40.00 target price on shares of Heartflow in a report on Monday, March 9th. Five equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $38.50.

Insider Activity at Heartflow

In other news, major shareholder Bain Capital Life Sciences Inv sold 2,000,000 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $28.05, for a total value of $56,100,000.00. Following the transaction, the insider directly owned 10,448,158 shares of the company’s stock, valued at $293,070,831.90. This represents a 16.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John C.M. Farquhar sold 22,562 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $27.46, for a total transaction of $619,552.52. Following the sale, the chief executive officer owned 591,656 shares of the company’s stock, valued at approximately $16,246,873.76. This represents a 3.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 2,117,674 shares of company stock valued at $59,052,646 in the last ninety days.

Heartflow Stock Performance

Heartflow stock opened at $22.52 on Wednesday. The stock has a 50-day simple moving average of $27.30 and a 200 day simple moving average of $30.52. The stock has a market capitalization of $1.92 billion and a P/E ratio of -12.44. Heartflow, Inc. has a 52 week low of $20.13 and a 52 week high of $41.22.

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.