Alambic Investment Management Lowers stake in HeartWare International Inc (HTWR)

HeartWare International Inc (HTWR) : Alambic Investment Management reduced its stake in HeartWare International Inc by 31.69% during the most recent quarter end. The investment management company now holds a total of 44,130 shares of HeartWare International Inc which is valued at $2,556,892 after selling 20,468 shares in HeartWare International Inc , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.HeartWare International Inc makes up approximately 0.57% of Alambic Investment Management’s portfolio.

Other Hedge Funds, Including , Los Angeles Capital Management Equity Research Inc added HTWR to its portfolio by purchasing 7,425 company shares during the most recent quarter which is valued at $430,205. Gabelli Securities added HTWR to its portfolio by purchasing 134,400 company shares during the most recent quarter which is valued at $7,783,104. HeartWare International Inc makes up approx 1.17% of Gabelli Securities’s portfolio.California State Teachers Retirement System reduced its stake in HTWR by selling 30 shares or 0.08% in the most recent quarter. The Hedge Fund company now holds 36,531 shares of HTWR which is valued at $2,116,606. Meeder Asset Management Inc added HTWR to its portfolio by purchasing 5,736 company shares during the most recent quarter which is valued at $331,311. HeartWare International Inc makes up approx 0.03% of Meeder Asset Management Inc’s portfolio.

HeartWare International Inc opened for trading at $57.94 and hit $57.99 on the upside on Monday, eventually ending the session at $57.99, with a gain of 0.09% or 0.05 points. The heightened volatility saw the trading volume jump to 1,79,233 shares. Company has a market cap of $1,018 M.

On the company’s financial health, HeartWare International Inc reported $-0.62 EPS for the quarter, beating the analyst consensus estimate by $ 0.19 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.81. The company had revenue of $68.72 million for the quarter, compared to analysts expectations of $57.36 million. The company’s revenue was down -6.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.47 EPS.

Many Wall Street Analysts have commented on HeartWare International Inc. HeartWare International Inc was Downgraded by Raymond James to ” Mkt Perform” on Jul 13, 2016. HeartWare International Inc was Downgraded by Leerink Partners to ” Mkt Perform” on Jul 11, 2016. HeartWare International Inc was Downgraded by Wells Fargo to ” Market Perform” on Jun 29, 2016.

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.

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