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Downgrade Alert for HeartWare International (HTWR)

By David Diaz

HeartWare International (NASDAQ:HTWR) was downgraded from Buy to Neutral at BTIG today. The stock closed yesterday at $57.46 on volume of 2.8 million shares, above average daily volume of 355,000.

HeartWare International Inc is developing a range of implantable mechanical circulatory assist devices or heart pumps, used for the treatment of congestive heart failure.

Over the past year, HeartWare International has traded in a range of $25.02 to $95.59 and closed yesterday at $57.46, 130% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1.9% while the 50-day MA has declined 0.4%.

HeartWare International (NASDAQ:HTWR) is currently priced 2.2% above its average consensus analyst price target of $56.20. The stock should find initial support at its 200-day moving average (MA) of $48.54 and further support at its 50-day MA of $31.72.

SmarTrend recommended that subscribers consider buying shares of HeartWare International on June 13th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $32.77. Since that recommendation, shares of HeartWare International have risen 75.6%. We continue to monitor HTWR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades heartware international

Ticker(s): HTWR