HeartWare International Inc (HTWR) is Downgraded by Wells Fargo to Market Perform

HeartWare International Inc (HTWR) was Downgraded by Wells Fargo to ” Market Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Wells Fargo advised their investors in a research report released on Jun 29, 2016.

Many Wall Street Analysts have commented on HeartWare International Inc. HeartWare International Inc was Downgraded by SunTrust to ” Neutral” on Jun 28, 2016. HeartWare International Inc was Initiated by Guggenheim to “Neutral” on Jun 9, 2016. Shares were Reiterated by Barclays on May 5, 2016 to “Overweight” and Lowered the Price Target to $ 35 from a previous price target of $42 .

On the company’s financial health, HeartWare International Inc reported $-0.95 EPS for the quarter, missing the analyst consensus estimate by $ -0.22 based on the information available during the earnings call on May 4, 2016. Analyst had a consensus of $-0.73. The company had revenue of $55.10 million for the quarter, compared to analysts expectations of $60.20 million. The company’s revenue was down -21.3 % compared to the same quarter last year.

HeartWare International Inc opened for trading at $57.54 and hit $57.915 on the upside on Monday, eventually ending the session at $57.79, with a gain of 92.76% or 27.81 points. The heightened volatility saw the trading volume jump to 1,02,97,453 shares. Company has a market cap of $1,014 M.

In a different news, on Apr 4, 2016, James Schuermann (SVP, Sales & Marketing) sold 1,000 shares at $31.36 per share price. According to the SEC, on Feb 26, 2016, Peter F Mcaree (SVP, CFO and Treasurer) sold 697 shares at $29.49 per share price. On Feb 26, 2016, Mark Strong (Senior VP, R&D and Quality) sold 395 shares at $29.67 per share price, according to the Form-4 filing with the securities and exchange commission.

Heartware International Inc. is a medical device company. The Company develops and manufactures miniaturized implantable heart pumps or ventricular assist devices for patients suffering from advanced heart failure. The HeartWare Ventricular Assist System (HVAD System) which includes a ventricular assist device (VAD) or blood pump patient accessories and surgical tools provides circulatory support for patients in the advanced stage of heart failure. The core of the HVAD System is a continuous flow blood pump the HVAD pump. The HVAD System is designed to be implanted adjacent to the heart avoiding abdominal surgery directly adjacent to the heart. The Company’s hybrid system is used for suspending the impeller. The impeller is suspended within the pump housing by the opposing forces of passive magnets and hydrodynamic thrust generated by the pump impeller which circulates a cushion of blood.

HeartWare International Inc

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