J.P. Morgan Reiterates Overweight on Heartware International on Updated Estimates

In a report published Wednesday, J.P. Morgan analyst Michael Weinstein reiterated his Overweight rating and $115.00 price target on Heartware International HTWR. In the report, Weinstein noted, “We view Heartware as one of the most compelling growth stories in small-cap MedTech. With its unique pump design, Heartware is poised to be the first real challenger to Thoratec's near-monopoly position in the VAD market, which we view as one of the more promising growth segments in the cardiovascular universe over the next decade. The HVAD's small size means the pump can be implanted directly within the pericardial space, allowing for less invasive implant techniques and potentially reducing complications. Heartware also expects first-in-man implants using its miniaturized next-generation pump, the MVAD, by mid-2013.” Heartware International closed on Tuesday at $86.45.