Boston, MA 09/17/2014 (wallstreetpr) – For the first time in the last one-year period, medical device maker HeartWare International Inc (NASDAQ:HTWR) has witnessed an insider buying its shares. One of the major shareholders of the company, Adage Capital Partners GP LLC, has resorted to boosting its stake in the company.
Lifts Holding
For the second straight trading day, Adage Capital has acquired 65,000 shares through two transactions on September 15, according to a Form 4 filed with the regulator on September 16. While the first transaction involved purchase of 55,653 shares at the rate of $76.99, the second transactions related to 9,347 shares being acquired at $77.39 a share. Together, Adage has paid $5.01 million to buy these additional shares.
On the previous trading day too, there was three transactions of 100, 24,900 and 10,000 shares that were bought at $76.94, $76.9 and $76.34 a share respectively. Adage Capital has paid about $2.69 million to acquire 35,000 shares on September 12.
The acquiring price indicated a premium of around 11% over the yearly low price of $69.31 and a discount of approximately 27.3% from the 52-week high price of $105.84. As a result of the latest purchase of 100,000 shares in the two-day trading period, Adage Capital has boosted its stake in HeartWare International Inc (NASDAQ:HTWR) to nearly 2.01 million shares worth around $156.49 million.
In the current month, there was some small quantity of selling by HeartWare International Inc (NASDAQ:HTWR) Senior Vice President, General Counsel, and Company Secretary, Lawrence Knopf.
One-Year Insider Trading
Significantly, there was no buying of shares by the insiders during the last three-month period, according to Nasdaq data. All the five trading transactions belonged to only selling activities. Thus, there was a net selling of 6,536 shares during the three-month period. The buying activities has resumed only on September 12 by Adage Capital.
Similarly, in the last 52-week period, there was only selling activities by the insiders. There were 48 transactions for unloading 139,145 shares during the last one-year period. The consensus among the Wall Street analysts’ was in favor of a Sell rating on the shares of HeartWare International Inc (NASDAQ:HTWR).
The buying activities for the first time in the last one-year period could suggest that the stock might have seen its bottom, and the possibility of uptick trend is round the corner.
