Started to work for me after I did the following:
Uninstalled my app from the watch with
adb -s localhost:4444 uninstall com.example.android.wearable.jumpingjack
Added permissions to get the heart rate sensor
<uses-permission android:name="android.permission.BODY_SENSORS"/>
Set the min and target SDK version to match the watch
android:minSdkVersion="20" android:targetSdkVersion="20"
Started the app again. I received the heart rate sensor with Sensor.TYPE_HEART_RATE and I started to receive its readings. Although they were far from good. There were a lot of readings, but they were just the same, limited to these 5 values:
heartRate onSensorChanged values = [0.0], accuracy = 0, sensor = {Sensor name="Heart Rate Sensor", vendor="Motorola", version=1, type=21, maxRange=65535.0, resolution=1.0, power=0.45, minDelay=0}
heartRate onSensorChanged values = [53.0], accuracy = 2, sensor = {Sensor name="Heart Rate Sensor", vendor="Motorola", version=1, type=21, maxRange=65535.0, resolution=1.0, power=0.45, minDelay=0}
heartRate onSensorChanged values = [54.0], accuracy = 2, sensor = {Sensor name="Heart Rate Sensor", vendor="Motorola", version=1, type=21, maxRange=65535.0, resolution=1.0, power=0.45, minDelay=0}
heartRate onSensorChanged values = [55.0], accuracy = 2, sensor = {Sensor name="Heart Rate Sensor", vendor="Motorola", version=1, type=21, maxRange=65535.0, resolution=1.0, power=0.45, minDelay=0}
heartRate onSensorChanged values = [77.0], accuracy = 1, sensor = {Sensor name="Heart Rate Sensor", vendor="Motorola", version=1, type=21, maxRange=65535.0, resolution=1.0, power=0.45, minDelay=0}
Most of the time I was getting the same 53.0 value which doesn't seem to be my real heart rate. 77 could have been the one.