Heartflow (NASDAQ:HTFL) Trading Down 9.4% – Should You Sell?

Heartflow, Inc. (NASDAQ:HTFL) was down 9.4% during mid-day trading on Monday . The stock traded as low as $25.96 and last traded at $25.6530. Approximately 410,354 shares traded hands during trading, a decline of 70% from the average daily volume of 1,381,949 shares. The stock had previously closed at $28.32.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on HTFL shares. JPMorgan Chase & Co. lowered their price objective on Heartflow from $40.00 to $35.00 and set an “overweight” rating on the stock in a report on Thursday, March 19th. Canaccord Genuity Group cut their target price on Heartflow from $43.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Wells Fargo & Company lifted their price target on Heartflow from $35.00 to $37.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Finally, William Blair assumed coverage on Heartflow in a report on Monday, May 4th. They set an “outperform” rating on the stock. Six investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $37.00.

Heartflow Stock Performance

The firm has a market cap of $2.34 billion and a price-to-earnings ratio of -8.78. The business has a fifty day moving average of $27.37 and a two-hundred day moving average of $28.63.

Heartflow (NASDAQ:HTFL) last issued its quarterly earnings data on Thursday, May 14th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.08. The firm had revenue of $52.59 million for the quarter. The firm’s revenue was up 41.3% compared to the same quarter last year. On average, equities research analysts forecast that Heartflow, Inc. will post -0.78 earnings per share for the current year.

Insider Transactions at Heartflow

In related news, major shareholder Bain Capital Life Sciences Inv sold 948,757 shares of Heartflow stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $29.23, for a total transaction of $27,732,167.11. Following the completion of the transaction, the insider directly owned 8,448,158 shares of the company’s stock, valued at approximately $246,939,658.34. The trade was a 10.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO John C.M. Farquhar sold 22,562 shares of Heartflow stock in a transaction on Monday, May 11th. The stock was sold at an average price of $29.12, for a total value of $657,005.44. Following the transaction, the chief executive officer directly owned 519,397 shares of the company’s stock, valued at approximately $15,124,840.64. This represents a 4.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 2,205,874 shares of company stock valued at $64,166,729. Company insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Heartflow

Hedge funds and other institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Heartflow in the fourth quarter worth $27,000. Russell Investments Group Ltd. acquired a new position in shares of Heartflow in the fourth quarter worth $45,000. Legal & General Group Plc acquired a new position in shares of Heartflow in the third quarter worth $59,000. Strs Ohio acquired a new position in shares of Heartflow in the fourth quarter worth $99,000. Finally, Bessemer Group Inc. acquired a new position in shares of Heartflow in the first quarter worth $126,000.

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.