Revenue Update on HeartWare International Inc(NASDAQ:HTWR)

HeartWare International Inc(NASDAQ:HTWR) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Jul 28, 2016. Company reported revenue of $68.72M. Analysts estimated a revenue of $57.44M. Earnings per share were $-0.43. Analysts had estimated an EPS of $-0.81.

In a different note, On Jul 11, 2016, Leerink Swann said it Downgrades its rating on HeartWare International Inc. The shares have been rated ‘Market Perform’ by the firm. On Jun 29, 2016, Wells Fargo said it Downgrades its rating on HeartWare International Inc. The shares have been rated ‘Market Perform’ by the firm. On Jun 29, 2016, BTIG Research said it Downgrades its rating on HeartWare International Inc. The shares have been rated ‘Neutral’ by the firm. On Jun 29, 2016, Barclays said it Downgrades its rating on HeartWare International Inc. In the research note, the firm Raises the price-target to $35.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On Jun 28, 2016, SunTrust Robinson Humphrey said it Downgrades its rating on HeartWare International Inc. The shares have been rated ‘Neutral’ by the firm. Guggenheim Securities said it Initiates Coverage on HeartWare International Inc, according to a research note issued on Jun 9, 2016. The shares have been rated ‘Neutral’ by the firm.

HeartWare International Inc (HTWR) shares turned negative on Thursdays trading session with the shares closing down -0.02 points or -0.03% at a volume of 1,08,884. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $57.95. The peak price level was also seen at $57.95 while the days lowest was $57.85. Finally the shares closed at $57.92. The 52-week high of the shares is $91.9 while the 52-week low is $25.015. According to the latest information available, the market cap of the company is $1,017 M.

Several Insider Transactions has been reported to the SEC. On Jul 25, 2016, Mark Strong (Senior VP, R&D and Quality) sold 1,875 shares at $57.71 per share price.Also, On Jul 12, 2016, Peter F Mcaree (SVP, CFO and Treasurer) sold 3,125 shares at $57.68 per share price.On Jul 5, 2016, James Schuermann (SVP, Sales & Marketing) sold 1,000 shares at $57.77 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.

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