Heartflow (NASDAQ:HTFL) Price Target Raised to $56.00 at Canaccord Genuity Group

Heartflow (NASDAQ:HTFL) had its target price lifted by research analysts at Canaccord Genuity Group from $45.00 to $56.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective suggests a potential upside of 11.27% from the stock’s current price.

HTFL has been the topic of several other reports. JPMorgan Chase & Co. raised their target price on Heartflow from $35.00 to $45.00 and gave the stock an “overweight” rating in a report on Friday, August 14th. Benchmark reaffirmed a “buy” rating on shares of Heartflow in a research note on Friday, August 14th. Wells Fargo & Company boosted their target price on shares of Heartflow from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Friday, August 14th. Weiss Ratings raised shares of Heartflow from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, August 7th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $45.00 price objective (up from $38.00) on shares of Heartflow in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Heartflow currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.25.

Heartflow Price Performance

HTFL stock opened at $50.33 on Tuesday. The firm’s fifty day simple moving average is $38.24 and its 200-day simple moving average is $31.94. Heartflow has a 12 month low of $20.13 and a 12 month high of $52.22. The company has a market capitalization of $4.38 billion and a P/E ratio of -27.50.

Heartflow (NASDAQ:HTFL) last posted its quarterly earnings results on Thursday, August 13th. The company reported ($0.07) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.15. The company 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 firm’s revenue for the quarter was up 47.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Heartflow will post -0.75 earnings per share for the current year.

Insider Buying and Selling at Heartflow

In related news, CEO John Farquhar sold 38,900 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The shares were sold at an average price of $35.00, for a total value of $1,361,500.00. Following the transaction, the chief executive officer directly owned 457,935 shares of the company’s stock, valued at approximately $16,027,725. This trade represents a 7.83% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Vikram Verghese sold 29,714 shares of Heartflow stock in a transaction dated Friday, September 11th. The stock was sold at an average price of $50.06, for a total value of $1,487,482.84. Following the completion of the sale, the chief financial officer owned 184,789 shares in the company, valued at approximately $9,250,537.34. The trade was a 13.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 326,667 shares of company stock valued at $14,233,123 over the last ninety days. Corporate insiders own 7.70% of the company’s stock.

Institutional Trading of Heartflow

Several large investors have recently made changes to their positions in HTFL. XXEC Inc. purchased a new position in Heartflow in the 2nd quarter valued at $2,524,764,000. BlackRock Inc. acquired a new stake in shares of Heartflow in the second quarter valued at about $152,502,000. Bamco Inc. NY purchased a new position in shares of Heartflow in the second quarter worth about $94,625,000. Jupiter Topco LLC purchased a new position in shares of Heartflow in the second quarter worth about $70,983,000. Finally, Janus Henderson Group PLC boosted its position in Heartflow by 152.0% during the first quarter. Janus Henderson Group PLC now owns 2,180,976 shares of the company’s stock worth $53,063,000 after acquiring an additional 1,315,416 shares during the last quarter.

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).