Strategic Buy Rating on Butterfly Network: Enhancing Prehospital Care with Handheld Ultrasound Technology

In a report released today, Josh Jennings from TD Cowen reiterated a Buy rating on Butterfly Network (BFLY – Research Report), with a price target of $5.00.

Josh Jennings has given his Buy rating due to a combination of factors that highlight the strategic positioning and potential of Butterfly Network’s technology in the prehospital care market. The recent case study from Hennepin Emergency Medical Services (HEMS) illustrates the significant clinical and economic benefits of Butterfly’s handheld ultrasound platform, particularly in emergency medical settings.
HEMS’s implementation of the Butterfly iQ devices across its fleet demonstrates the practical impact of this technology, with over 6,000 scans conducted in a single year. The ability of these devices to enhance diagnostic capabilities in the field has led to improved patient care decisions and potential cost savings. This successful integration into HEMS’s operations underscores the broad applicability and value of Butterfly’s solutions, supporting Jennings’s positive outlook on the company’s stock.

Based on the recent corporate insider activity of 36 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of BFLY in relation to earlier this year.