Heartflow (NASDAQ:HTFL) Stock Rating Upgraded by Wall Street Zen

Heartflow (NASDAQ:HTFL) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Sunday, Wall Street Zen reports.

Several other brokerages have also recently weighed in on HTFL. Wells Fargo & Company upped their price target on Heartflow from $37.00 to $39.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. Canaccord Genuity Group raised their price objective on shares of Heartflow from $45.00 to $56.00 and gave the company a “buy” rating in a research report on Tuesday, September 22nd. Stifel Nicolaus raised their price objective on shares of Heartflow from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, August 14th. Morgan Stanley boosted their price objective on shares of Heartflow from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, August 14th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $64.00 target price (up from $45.00) on shares of Heartflow in a report on Tuesday, October 20th. One 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 given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $48.62.

Heartflow Trading Up 0.5%

Heartflow stock opened at $57.01 on Friday. Heartflow has a 1-year low of $20.13 and a 1-year high of $57.74. The firm has a market capitalization of $4.96 billion, a price-to-earnings ratio of -31.15 and a beta of 2.73. The firm has a 50 day simple moving average of $49.38 and a 200 day simple moving average of $33.51.

Heartflow (NASDAQ:HTFL) last issued its earnings results on Thursday, August 13th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.15. Heartflow had a negative net margin of 55.82% and a negative return on equity of 23.52%. The business had revenue of $64.08 million for the quarter. Heartflow’s revenue for the quarter was up 47.7% on a year-over-year basis. On average, equities research analysts forecast that Heartflow will post -0.75 EPS for the current year.

Insider Buying and Selling

In other Heartflow news, insider Campbell Rogers sold 23,933 shares of the firm’s stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $55.01, for a total value of $1,316,554.33. Following the sale, the insider owned 73,453 shares of the company’s stock, valued at $4,040,649.53. This trade represents a 24.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John Farquhar sold 38,900 shares of Heartflow stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $49.57, for a total value of $1,928,273.00. Following the sale, the chief executive officer owned 283,014 shares of the company’s stock, valued at approximately $14,029,003.98. This trade represents a 12.08% 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 sold a total of 328,038 shares of company stock worth $15,490,354 over the last ninety days. 7.70% of the stock is owned by corporate insiders.

Institutional Trading of Heartflow

Several hedge funds and other institutional investors have recently bought and sold shares of HTFL. Sterling Capital Management LLC boosted its position in Heartflow by 797.9% during the 3rd quarter. Sterling Capital Management LLC now owns 2,532 shares of the company’s stock valued at $126,000 after buying an additional 2,250 shares during the period. Crescent Grove Advisors LLC purchased a new position in shares of Heartflow in the third quarter valued at about $249,000. IFP Advisors Inc increased its position in shares of Heartflow by 844.7% in the third quarter. IFP Advisors Inc now owns 803 shares of the company’s stock valued at $40,000 after acquiring an additional 718 shares during the period. Vontobel Holding Ltd. bought a new position in shares of Heartflow during the third quarter valued at about $1,020,000. Finally, Avior Wealth Management LLC raised its stake in shares of Heartflow by 16.1% during the third quarter. Avior Wealth Management LLC now owns 14,553 shares of the company’s stock valued at $724,000 after acquiring an additional 2,023 shares during the last quarter.

About Heartflow

Heartflow, Inc is a medical technology company that develops artificial intelligence-based tools to help physicians diagnose and manage coronary artery disease. Its platform uses data from coronary computed tomography angiography (CCTA) scans to create personalized, three-dimensional models of a patient’s coronary arteries and provide noninvasive assessments of blood flow and disease.

The company’s products include Heartflow Analysis, which provides fractional flow reserve computed tomography (FFR-CT) evaluations to help identify potentially significant blockages, as well as tools for assessing coronary plaque and planning treatment.