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Downgrade Alert for HeartWare International (HTWR)

By Shiri Gupta

HeartWare International (NASDAQ:HTWR) was downgraded from Outperform to Market Perform at Raymond James today. The stock closed yesterday at $57.64 on volume of 572,000 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.

HeartWare International (NASDAQ:HTWR) is currently priced 2.5% 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.

In the past 52 weeks, shares of HeartWare International have traded between a low of $25.02 and a high of $95.59 and closed yesterday at $57.64, which is 130% above that low price. The 200-day and 50-day moving averages have moved 1.88% lower and 0.43% lower over the past week, respectively.

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 76.0%. 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