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Heartware (HTWR) PT Lifted to $108 at Piper Jaffray on Strong Global LVAD Volumes

July 31, 2015 10:34 AM EDT
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Price: $57.98 --0%

Rating Summary:
    5 Buy, 14 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 9 | Down: 7 | New: 39
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Piper Jaffray analyst Brooks West reiterated an Overweight rating and lifted his price target on Heartware Int'l (NASDAQ: HTWR) to $108.00 (from $100.00) following Q2 results on strong global LVAD volumes.

West commented, "HeartWare reported Q2 revenues of $73.6M vs. PJC $71.9M (consensus $71.4M) on strong global volume growth, including a significant sequential pick up in international growth. Combining HTWR’s Q2 results with THOR’s, the LVAD market looks to have accelerated back to mid-teens growth in Q2. While market growth has proven to be lumpy, we continue to believe the introduction of next-generation technologies and greater understanding of post-implant patient management will provide a sustained lift back to double-digit market growth. Management’s commentary around MVAD was positive – both in terms of near-term FIM results in its CE Mark trial and expected US approval of its IDE trial by YE15. Finally management was optimistic on St. Jude’s ability to positively influence market growth in 2016 (after the likely closing of its acquisition of THOR) and, while committed to success as a standalone company, left the door wide open for a similar transaction."

For an analyst ratings summary and ratings history on Heartware Int'l click here. For more ratings news on Heartware Int'l click here.

Shares of Heartware Int'l closed at $88.73 yesterday.



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