Thoratec Corp. Rating Increased to Neutral at Zacks (THOR)
Thoratec Corp. (NASDAQ:THOR) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a research note issued to investors on Thursday, Stock Ratings Network.com reports. The firm currently has a $40.00 price target on the stock. Zacks‘ price target suggests a potential upside of 6.95% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at TheStreet upgraded shares of Thoratec Corp. (NASDAQ:THOR) from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, September 11th. Separately, analysts at Raymond James raised their price target on shares of Thoratec Corp. (NASDAQ:THOR) from $40.00 to $42.00 in a research note to investors on Friday, August 16th. They now have an “outperform” rating on the stock. Finally, analysts at Oppenheimer raised their price target on shares of Thoratec Corp. (NASDAQ:THOR) from $41.00 to $43.00 in a research note to investors on Tuesday, August 13th. They now have an “outperform” rating on the stock.
Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $41.82.
Shares of Thoratec Corp. (NASDAQ:THOR) traded down 0.64% during mid-day trading on Thursday, hitting $37.40. 358,099 shares of the company’s stock traded hands. Thoratec Corp. has a 52-week low of $29.91 and a 52-week high of $39.86. The stock has a 50-day moving average of $36.30 and a 200-day moving average of $34.33. The company has a market cap of $2.152 billion and a price-to-earnings ratio of 43.41.
Thoratec Corp. (NASDAQ:THOR) last released its earnings data on Wednesday, July 31st. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.09. The company had revenue of $130.50 million for the quarter, compared to the consensus estimate of $121.51 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The company’s quarterly revenue was up 10.0% on a year-over-year basis. On average, analysts predict that Thoratec Corp. will post $1.75 earnings per share for the current fiscal year.
Thoratec Corporation is engaged in mechanical circulatory support with a product portfolio to treat the range of clinical needs for advanced heart failure (NASDAQ:THOR) patients.
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