Heartflow, Inc. (HTFL) Stock Price & Analysis
Heartflow, Inc. (HTFL) closed at USD 60.53 on Thursday, October 29, 2026, up 2.42% on the day. The US market is currently closed (after-hours); this is not a live price.
The prior close was USD 59.1; the Oct 29, 2026 session ranged USD 58.5–60.56 on volume of 1,297,502 shares. Market capitalization is $5.26B, with a 52-week range of USD 20.13–60.56 (NMS). Source: Nexqual, retrieved October 29, 2026 at 22:29 UTC.
Also available as compact Markdown for AI agents: nexqual.com/HTFL.md
Key facts (HTFL)
- Last four reported quarters (through Jun 30, 2026): revenue $212M, net income -$118M (-55.8% margin), free cash flow -$59.2M (SEC filings).
- Insider open-market sales, last ~7 months: 21 Form 4 filings, $78.8M; 1 not under a Rule 10b5-1 plan ($58.9M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Buy (mean 1.89 on a 1–5 scale) (9 analysts), mean target USD 50.5 (range 39–64).
- Total return with dividends: 1Y +65.5% vs S&P 500 +14.4%; 5Y +94.2% vs S&P 500 +79.1%.
- Next earnings: 2026-11-12, EPS estimate USD -0.1, revenue estimate $65.2M. All companies reporting that day: https://nexqual.com/earnings/2026-11-12
- Dividend: HTFL paid no cash dividend in the last five years.
- Short interest: 12.19% of float (as of 2026-10-15), 3.9 days to cover.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (HTFL)
| USD | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|
| Revenue | $87.2M | $126M | $176M | $212M |
| Gross profit | $58.1M | $94.4M | $135M | — |
| Operating income | -$72.9M | -$61.2M | -$64.1M | -$80.3M |
| Net income | -$95.7M | -$96.4M | -$117M | -$118M |
| EPS (diluted) | -$25.32 | -$17.98 | -$3.17 | — |
| Free cash flow | -$82.5M | -$73.4M | -$59.0M | -$59.2M |
| Gross margin | 66.6% | 75.1% | 76.8% | — |
| Operating margin | -83.6% | -48.7% | -36.4% | -37.8% |
| Net margin | -109.7% | -76.6% | -66.3% | -55.8% |
| Revenue growth | — | +44.3% | +39.9% | — |
| Cash + short-term investments | $123M | $51.4M | $280M | — |
| Total debt | — | $0K | — | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (HTFL)
P/S 24.8x · P/B 18.8x · FCF yield -1.12% · Earnings yield -2.25%
Insider sales (SEC Form 4, open-market, last ~7 months) (HTFL)
20 of 21 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-10-22 | Rogers Campbell | Chief Medical Officer | 23,933 | $1.3M | 9.9% | Yes (adopted June 16, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-10-12 | Farquhar John C.M. | Chief Executive Officer | 38,900 | $1.9M | 12.1% | Yes (adopted September 12, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-09-18 | Rogers Campbell | Chief Medical Officer | 19,682 | $987K | 8% | Yes (adopted June 16, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-09-17…2026-09-18 | Verghese Vikram | Chief Financial Officer | 24,345 | $1.2M | 13.6% | Yes (adopted June 4, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-09-11…2026-09-15 | Verghese Vikram | Chief Financial Officer | 34,975 | $1.8M | 16.3% | Yes (adopted June 4, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-09-10…2026-09-11 | Farquhar John C.M. | Chief Executive Officer | 38,900 | $1.8M | 10.8% | Yes (adopted September 12, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-09-08 | Verghese Vikram | Chief Financial Officer | 6,640 | $332K | 3% | Yes (adopted June 4, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-09-02…2026-09-03 | Verghese Vikram | Chief Financial Officer | 33,416 | $1.7M | 13.1% | Yes (adopted June 4, 2026) | Too little history (no open-market trades in 2023–2025) |
| 2026-08-21 | Farquhar John C.M. | Chief Executive Officer | 27,230 | $1.4M | 7% | Yes (adopted September 12, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-08-18 | Farquhar John C.M. | Chief Executive Officer | 32,676 | $1.5M | 7.8% | Yes (adopted September 12, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-08-17 | Rogers Campbell | Chief Medical Officer | 9,219 | $380K | 3.8% | Yes (adopted December 12, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-08-14 | Farquhar John C.M. | Chief Executive Officer | 15,560 | $608K | 3.6% | Yes (adopted September 12, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-08-10 | Farquhar John C.M. | Chief Executive Officer | 22,562 | $639K | 4.9% | Yes (adopted September 12, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-07-15 | Rogers Campbell | Chief Medical Officer | 9,219 | $237K | 3.8% | Yes (adopted December 12, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-07-10 | Farquhar John C.M. | Chief Executive Officer | 22,562 | $626K | 4.9% | Yes (adopted September 12, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-06-24 | Farquhar John C.M. | Chief Executive Officer | 38,900 | $1.4M | 7.8% | Yes (adopted September 12, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-06-10 | Farquhar John C.M. | Chief Executive Officer | 22,562 | $643K | 4.3% | Yes (adopted September 12, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-05-18 | Rogers Campbell | Chief Medical Officer | 9,219 | $261K | 3.9% | Yes (adopted December 12, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-05-11 | Farquhar John C.M. | Chief Executive Officer | 22,562 | $657K | 4.2% | Yes (adopted September 12, 2025) | Too little history (no open-market trades in 2023–2025) |
| 2026-04-28…2026-04-30 | Bain Capital Life Sciences Investors, Llc | 2,000,000 | $58.9M | 19.1% | No | Too little history (no open-market trades in 2023–2025) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Analysts (HTFL)
Consensus Buy (mean 1.89 on a 1–5 scale), 9 analysts; mean target USD 50.5 (low 39, high 64).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-20 | Piper Sandler | Target raised | Overweight | $45 → $64 |
| 2026-09-22 | Canaccord Genuity | Target raised | Buy | $45 → $56 |
| 2026-09-09 | UBS | Initiated | Neutral | $55 |
| 2026-08-14 | Canaccord Genuity | Target raised | Buy | $37 → $45 |
| 2026-08-14 | Morgan Stanley | Target raised | Equal-Weight | $35 → $40 |
| 2026-08-14 | Piper Sandler | Target raised | Overweight | $38 → $45 |
| 2026-08-14 | JP Morgan | Target raised | Overweight | $35 → $45 |
| 2026-08-14 | Wells Fargo | Target raised | Overweight | $37 → $39 |
| 2026-08-14 | Stifel | Target raised | Buy | $40 → $45 |
| 2026-07-31 | Baird | Initiated | Outperform | $34 |
Total return (dividends reinvested) (HTFL)
| 1Y (from 2025-10-30) | 5Y (from 2025-08-11) | |
|---|---|---|
| Total return | +65.5% | +94.2% |
| S&P 500 (SPY) | +14.4% | +79.1% |
| Per year | +65.8% | +72.5% |
| Volatility (annualized) | 76.6% | 80.9% |
| Max drawdown | -44.9% (Oct 2025→Mar 2026) | -45.9% (Oct 2025→Mar 2026) |
Dividends (HTFL)
HTFL paid no cash dividend in the last five years.
Short interest (HTFL)
7,327,567 shares sold short, 12.19% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 5,627,391 shares (+30.2%). Days to cover: 3.9 (short shares ÷ average daily volume).
HTFL earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| Aug 13, 2026 | Quarter ended Jun 30, 2026 | −$0.07 | −$0.13 | Beat +46.2% | +41.0% |
| May 14, 2026 | Quarter ended Mar 31, 2026 | −$0.16 | −$0.17 | Beat +5.9% | -9.2% |
| Mar 18, 2026 | Quarter ended Dec 31, 2025 | −$0.12 | −$0.16 | Beat +25.0% | +15.0% |
| Nov 12, 2025 | Quarter ended Sep 30, 2025 | −$0.27 | −$0.24 | Miss −12.5% | -9.5% |
| Sep 10, 2025 | — | — | — | — | -4.4% |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).
HTFL recent SEC filings (last 120 days)
| Filed | Form | What it says |
|---|---|---|
| Aug 14, 2026 | Schedule 13G/A | BCLS Fund III Investments, LP: 9.8% of shares, passive 5%+ holder (amended) |
| Aug 13, 2026 | 10-Q | Quarterly report · period ended Jun 30, 2026 |
| Aug 13, 2026 | Schedule 13G/A | Wellington Management Group LLP, Wellington Group Holdings LLP: 9.1% of shares, passive 5%+ holder (amended) |
| Aug 13, 2026 | 8-K | Quarterly results |
| Aug 6, 2026 | Schedule 13G/A | Wellington Management Group LLP, Wellington Group Holdings LLP: 10.7% of shares, passive 5%+ holder (amended) |
| Jul 28, 2026 | Schedule 13G | BlackRock, Inc.: 5.7% of shares, passive 5%+ holder |
Source: SEC EDGAR. Quotes are the opening words of each item as filed; each form links to the filing. Insider Form 4 filings are listed in the insider sections.
HTFL suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | Amazon (AMZN) | “Additionally, AWS has suffered outages at specific customer locations in the past, rendering the customer unable to access our offering for periods of time.” |
Quoted from the company's 10-K filed Mar 18, 2026.
HTFL analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $-0.10 | $-0.11 | +$0.01 | $65.2M | 8 |
| Next quarter (ends Dec 2026) | $-0.09 | $-0.09 | $0.00 | $66.7M | 8 |
| Current fiscal year (ends Dec 2026) | $-0.41 | $-0.49 | +$0.08 | $248.6M | 8 |
| Next fiscal year (ends Dec 2027) | $-0.27 | $-0.26 | −$0.01 | $308.6M | 8 |
HTFL options: expected move
Options price a move of about ±20.4% (±$12.05) by Nov 20, 2026, which includes earnings on Nov 12, 2026. Over the last 5 reports the stock moved ±15.8% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 22 | 101.2% | ±20.4% |
| Dec 18, 2026 | 50 | 84.3% | ±25.2% |
| Jan 15, 2027 | 78 | 78.8% | ±29.2% |
| Mar 19, 2027 | 141 | 79.9% | ±39.4% |
| Apr 16, 2027 | 169 | 80.0% | ±43.1% |
30-day implied volatility 97.8% vs 49.7% realized over the last 30 trading days. Put/call ratio (volume) 11.15. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 29, 2026 at 22:29 UTC)
| Price | USD 60.53 |
|---|---|
| Change | ▲ 2.42% (up) |
| Previous Close | USD 59.1 |
| Open | USD 59 |
| Day Range | USD 58.5 – 60.56 |
| 52-Week Range | USD 20.13 – 60.56 |
| Volume | 1,297,502 shares |
| Market Cap | $5.26B |
| Exchange | NMS |
Technical Analysis (HTFL)
Nexqual's technical model rates HTFL "BUY" based on 5 bullish and 2 bearish signals across 127 daily candles, as of October 29, 2026 at 22:29 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 72.31 (overbought) |
| vs SMA50 | Above (USD 50.58) |
| MACD | 2.86 (positive) |
Analyst Ratings (HTFL)
Wall Street analysts rate HTFL "Buy" based on 9 analysts, with a mean price target of USD 50.5 (range USD 39–64), per Nexqual as of October 29, 2026 at 22:29 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 9 |
| Mean Target | USD 50.5 |
| High Target | USD 64 |
| Low Target | USD 39 |
| Buy / Hold / Sell | 8 / 1 / 0 |
Earnings (HTFL)
| Next Earnings Date | 2026-11-12 |
|---|---|
| EPS Estimate | USD -0.1 |
| Revenue Estimate | $65.20M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD -0.07 vs est -0.13 ▲ beat |
| 2026-03-31 | USD -0.16 vs est -0.17 ▲ beat |
| 2025-12-31 | USD -0.12 vs est -0.16 ▲ beat |
| 2025-09-30 | USD -0.27 vs est -0.24 ▼ miss |
Source: Nexqual, October 29, 2026 at 22:29 UTC.
Financials & Fundamentals (HTFL)
| Total Revenue | $212.07M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +47.60% |
| Gross Margin | +80.08% |
| Operating Margin | -27.93% |
| Profit Margin | -55.82% |
| ROE | -154.23% |
| Debt / Equity | 0.1 |
| Current Ratio | 5.08 |
| Total Cash | $162.55M |
| Total Debt | $27.13M |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | -$59.18M (-27.9% of revenue) |
Source: Nexqual, October 29, 2026 at 22:29 UTC.
Financial Health Score (HTFL)
Nexqual rates Heartflow, Inc.'s overall financial health "Mixed" across five dimensions, as of October 29, 2026 at 22:29 UTC.
| Growth | Strong — Revenue +48% YoY (latest Q) |
|---|---|
| Profitability | Solid — Gross margin 80%, operating -38% (last 4 quarters to Jun 2026, SEC) |
| Balance Sheet | Strong — $163M cash vs $27M debt, net cash position |
| Cash Flow | Weak — FCF negative: -$59M (last 4 quarters to Jun 2026, SEC), burning cash |
| Efficiency | Critical — ROE -42%, ROA -34.4% (last 4 quarters, SEC) |
Ownership (HTFL)
| Insider Ownership | +4.90% |
|---|---|
| Institutional Ownership | +92.45% |
| Shares Outstanding | 86.95M |
| Float | 67.25M |
| Short % of Float | +12.19% |
Source: Nexqual, October 29, 2026 at 22:29 UTC.
Leadership (HTFL)
Heartflow, Inc. is led by John C.M. Farquhar, President, CEO & Director, per Nexqual as of October 29, 2026 at 22:29 UTC.
| President, CEO & Director | John C.M. Farquhar |
|---|---|
| Chief Financial Officer | Vikram Verghese C.F.A. |
| Senior Vice President of Operations | Kathleen Carey |
| Chief Technology Officer | Justin Cambra |
| Vice President of Investor Relations | Nicholas S. Laudico |
Major Backers & Investors (HTFL)
Notable institutional backers of Heartflow, Inc. include Bain Capital Life Sciences Investors, LLC, Wellington Management, FMR, LLC, according to Nexqual as of October 29, 2026 at 22:29 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Bain Capital Life Sciences Investors, LLC | 9.72% |
| Wellington Management | 9.04% |
| FMR, LLC | 5.54% |
| BAMCO Inc. | 3.71% |
| Jupiter Topco LLC | 2.78% |
| Invesco | 2.64% |
| Alliancebernstein L.P. | 2.21% |
| Fidelity | 2.1% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 7.29% |
| BlackRock | 5.98% |
Source: Nexqual, October 29, 2026 at 22:29 UTC.
From Heartflow, Inc.'s Latest SEC 10-K Filing (filed 2026-03-18)
Key Strengths & Strategy (as disclosed to the SEC)
- Our Heartflow Platform relies on industry-leading security controls, including encryption at rest and in transit, multi-factor and single-sign on authentication, granular authorization and a secure development lifecycle.
- Our clinical studies, including the PRECISE, NXT and PACIFIC trials, have consistently demonstrated that the Heartflow Platform is more accurate than traditional non-invasive tests and highly concordant to invasive testing, reduces unnecessary invasive testing, and enables physicians to optimize treatment and ultimately provide more efficient care.
- Our studies, including the PRECISE, NXT and PACIFIC trials, have consistently demonstrated that the Heartflow Platform is more accurate than traditional non-invasive tests and highly concordant to invasive testing, reduces unnecessary invasive testing, and enables physicians to optimize treatment and ultimately provide more efficient care.
- Our success depends in part on our ability to obtain, maintain and defend our patent and other proprietary rights for the Heartflow Platform, the validity and enforceability of our patents, our ability to operate without infringing the valid and enforceable patents and proprietary rights of third parties and the continued confidentiality of our know-how and trade secrets.
Partnerships
- The study showed that Heartflow's Plaque Analysis results for total plaque volume, calcified plaque, and non-calcified plaque were strongly correlated with IVUS measurements, achieving 95% agreement with IVUS. •DECODE (2024): Our Company-sponsored DECODE study evaluated the impact of the Heartflow Plaque Analysis on clinical decision-making using data from 100 patients who underwent CCTA.
- The Heartflow Plaque Analysis has been validated against the reference standard of invasive IVUS and shown to have a 95% agreement with IVUS in quantifying total coronary plaque volume in our REVEALPLAQUE study.
Legal & Regulatory Risks (Item 1A, quoted)
- We face extensive regulatory requirements to bring our products to market, and our failure to receive and maintain regulatory clearances or approvals of our current and future products in the United States or abroad or to comply with medical device regulatory requirements could adversely affect our business.
- Any of these factors, many of which are beyond our control, could jeopardize our ability to obtain regulatory clearance, de novo classification or approval for current or future versions of the Heartflow Platform and could result in difficulties and costs for us.
- Current and future legislative proposals to further reform healthcare or reduce healthcare costs may limit coverage of or lower reimbursement for the diagnostic tests associated with the use of our products. The cost containment measures that payors and providers are instituting and the effect of any healthcare reform initiative implemented in the future could impact our revenue from the sale of our products.
- We are subject to many laws and governmental regulations affecting our marketed products, both domestically and internationally, and any adverse regulatory action may adversely affect our business, financial condition, results of operations and prospects.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| WAY | Waystar Holding Corp. | USD 28.21 | ▼ 2.46% |
| DOCS | Doximity, Inc. | USD 33.63 | ▼ 1.81% |
| HQY | HealthEquity, Inc. | USD 101.36 | ▲ 0.02% |
| HNGE | Hinge Health, Inc. | USD 116.9 | ▲ 1.41% |
| PRVA | Privia Health Group, Inc. | USD 22 | ▲ 0.71% |
| BTSG | BrightSpring Health Services, I | USD 60.22 | ▲ 1.28% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 29, 2026 at 22:29 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt