Shares of HeartWare International (NSDQ:HTWR) came under pressure on Wall Street today after the medical device company missed Wall Street’s loss-per-share forecast on lower-than-expected U.S. sales of its implantable heart pump.
Framingham, Mass.-based HeartWare posted losses of $12.9 million, or 79¢ per share, on sales of $50.8 million for the 3 months ended June 30, cutting its red ink by some 43.2% on whopping 75.0% sales growth.
But analysts on The Street were looking for losses of 78¢ per share and higher U.S. sales of the company’s flagship HVAD left ventricular assist device. HeartWare sold 235 of the pumps during the quarter; analysts had predicted 254 U.S. HVADs sold.
"Our results for the 2nd quarter reflect positive initial trends in the commercial launch of the HeartWare ventricular assist system in the U.S., following approval from the FDA late last year, as well as continued strong support from our international customers," president & CEO Doug Godshall said in prepared remarks. "During the 2nd quarter, 523 HVAD pumps were sold globally, an increase from 318 units in the 2nd quarter of 2012 and more than our previous high quarterly total of 482 units in the 1st quarter of 2013."
HTWR shares were down 7.6% to $83.10 apiece as of about 3 p.m. today.