BofA Upgrades HeartWare, Downgrades Endochoice, Tandem

On Thursday, Bank of America Merrill Lynch issued a Medical Technology industry note highlighting HeartWare International Inc.

, Tandem Diabetes Care Inc.

, and EndoChoice Holdings Inc.

. Analysts Bob Hopkins and Travis Steed gave their opinion on the medical technology companies and how they can potentially drive value for shareholders. HeartWare: "2016 will be a year of tough quarters for HTWR...In our view, HTWR is a strategically attractive asset if its one year DT data from Endurance II proves to be competitive…we expect clean data to be materially positive for HTWR shares" Tandem Diabetes: Downgraded to Underperform while no change in price target. "We...do not expect significant revenue beats from TNDM going forward...In this environment low margin microcaps are less likely to outperform enough to compensate for the relative risk profile in our view." EndoChoice Holdings: Downgraded from Buy to Underperform with a $10 price target. "GI currently trades at 1.0x 2016E sales and we think the stock could trade more in line with other low margin medtech names...we are taking a wait and see approach to better understand if GI's clinical data and superior technology can compete against established players." Currently Heartware is trading at $31.10. Currently Tandem Diabetes is trading at $8.64. Currently EndoChoice Holdings is trading at $5.08.