Aug 1 (Reuters) - Medical technology company Heartflow said on Friday it was targeting a valuation of up to $1.32 billion in its U.S. initial public offering, more than three years after its previous attempt to go public fell through.

Mountain View, California-based Heartflow is seeking up to $212.5 million by offering 12.5 million shares priced between $15 and $17 apiece.

A string of successful high-profile debuts in recent months has injected fresh momentum into the new listings market after a slowdown fueled by tariff-driven turmoil in April.

Heartflow's listing also comes amid a nascent rebound in medical technology IPOs after a years-long downturn. Medtech firms Beta Bionics, Kestra Medical, Carlsmed and Shoulder Innovations have gone public in New York this year.

"Heartflow's strong top-line growth and high gross margins position it well for initial investor interest, especially given its similarity to commercialized Beta Bionics and Kestra Medical," IPOX CEO Josef Schuster said.

The company expects revenue to be between $42.9 million and $43.4 million for the three months ended June 30, a jump of 38% to 40% from a year earlier.

Still, with broader market volatility rising and select deals trading below offer, investors may be cautious beyond the first trading day, Schuster said.

Heartflow had earlier looked to go public through a merger with Larry Robbins-backed special purpose acquisition company at a $2.8 billion valuation. Those plans fell apart in 2022.

A year later, Heartflow raised $215 million in a funding round led by private investment firm Bain Capital. It is also backed by asset managers Hayfin and Wellington.

Founded in 2007 as Cardiovascular Simulation, Heartflow's AI-enabled products help physicians to diagnose and treat heart disease.

Heartflow mainly generates revenue on a "pay-per-click" basis each time physicians use its products for diagnosing and managing coronary artery disease.

J.P. Morgan, Morgan Stanley and Piper Sandler are the lead underwriters. Heartflow will list on the Nasdaq under the symbol "HTFL".