New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
November 21, 2012
11:32 EDTHTWR, THORHeartWare falls, Thoratec rallies after Wells Fargo flips ratings
Heart pump maker HeartWare (HTWR) is sinking and its competitor, Thoratec (THOR), is climbing after Wells Fargo wrote that the high rate of strokes among patients who have used Heartware's HVAD pump is worrisome. In a trial of Heartware's HVAD pump, which is designed to draw blood from the left ventricle and propel it through an outflow graft connected to the patient's ascending aorta, 11.8% of patients who used the device developed strokes, versus just 4.3% of patients who used a similar product made by Thoratec, Wells Fargo wrote in a note to investors, citing interim data. As a result, HeartWare has placed a warning about strokes on the instructions for its HVAD pump. Wells Fargo believes that this warning may curtail sales of HeartWare's device in the U.S., and the firm downgraded the company's stock to Market Perform from Outperform in a note to investors today. Wells Fargo also upgraded Thoratec to Outperform from Market Perform, as it expects the company to benefit from reduced demand for HeartWare's solution. Moreover, Wells predicts that HeartWare will report lower than expected 2013 revenue, while Thoratec is likely to beat 2013 revenue expectations. The firm also believes there is now a greater chance that HeartWare's device will not be approved as a destination therapy. In late morning trading, HeartWare fell $4.18, or 4.67%, to $85.36, while Thoratec climbed $1.91, or 5.46%, to $36.91.
News For HTWR;THOR From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
October 30, 2014
07:00 EDTHTWRHeartWare reports Q3 EPS (64c), consensus (65c)
Subscribe for More Information
October 28, 2014
10:12 EDTTHOROn The Fly: Analyst Downgrade Summary
Subscribe for More Information
05:40 EDTTHORThoratec downgraded to Equal Weight from Overweight at Barclays
Subscribe for More Information
October 21, 2014
15:00 EDTHTWRUpdate suggests HeartWare CE mark trial on track, says Wells Fargo
Wells Fargo said the clinicaltrials.gov posting for HeartWare's MVAD CE Mark trial, which had not been changed since April 2013, was updated on October 16 and now indicates the trial is scheduled to start in April 2015. Wells expects HeartWare to update on MVAD on its Q3 call next week, but the firm said that it does not expect any major surprises based on the updated posting. Wells Fargo maintains its Market Perform rating on HeartWare.
October 17, 2014
10:16 EDTTHORHigh option volume stocks
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use