Auriga Maintains a 'Hold' on Heartware Int'l (HTWR); Impressive Growth in Europe
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Price: $57.98 --0%
Rating Summary:
5 Buy, 14 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
5 Buy, 14 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Auriga maintains a 'Hold' on Heartware Int'l (NASDAQ: HTWR) price target raised from $73 to $75.
Analyst, Peter McDonald, said, "Yesterday, Heartware reported 1Q12 revenue of $26MM, well above our estimate ($22MM) and consensus ($20MM). HTWR sold 298 pumps, with upside driven by strong demand in Europe. Management noted demand was generally steady, with solid U.S. trial enrollment offset by not having a CAP in place. Growth was very strong internationally (224 pumps, +67% Y/Y unit growth) as the end market continues to expand and HTWR continues to gain share. In the U.S., 74 pumps were implanted, with the majority coming from the ENDURANCE DT trial. The trial was fully enrolled earlier this week. HTWR expects to begin implanting under its fourth CAP allocation shortly. It was a good quarter and upcoming months hold several potential catalysts, namely starting the MVAD FIM, and PMA approval."
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 $77.14 yesterday.
Analyst, Peter McDonald, said, "Yesterday, Heartware reported 1Q12 revenue of $26MM, well above our estimate ($22MM) and consensus ($20MM). HTWR sold 298 pumps, with upside driven by strong demand in Europe. Management noted demand was generally steady, with solid U.S. trial enrollment offset by not having a CAP in place. Growth was very strong internationally (224 pumps, +67% Y/Y unit growth) as the end market continues to expand and HTWR continues to gain share. In the U.S., 74 pumps were implanted, with the majority coming from the ENDURANCE DT trial. The trial was fully enrolled earlier this week. HTWR expects to begin implanting under its fourth CAP allocation shortly. It was a good quarter and upcoming months hold several potential catalysts, namely starting the MVAD FIM, and PMA approval."
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 $77.14 yesterday.
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