TheStreet Upgrades Thoratec to Buy (THOR)
The analysts wrote, “Thoratec (THOR) has been upgraded by TheStreet Ratings from hold to buy. The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, increase in net income, good cash flow from operations and growth in earnings per share. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.”
A number of other analysts have also recently weighed in on THOR. Analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Thoratec in a research note on Thursday, July 3rd. They now have a $35.00 price target on the stock, up previously from $31.00. Separately, analysts at Canaccord Genuity raised their price target on shares of Thoratec from $37.00 to $39.00 in a research note on Thursday, July 3rd. They now have a “buy” rating on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Thoratec in a research note on Wednesday, May 21st. They now have a $33.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $42.27.
Thoratec (NASDAQ:THOR) traded down 0.79% during mid-day trading on Tuesday, hitting $33.95. 311,587 shares of the company’s stock traded hands. Thoratec has a 52-week low of $30.01 and a 52-week high of $43.58. The stock has a 50-day moving average of $33.63 and a 200-day moving average of $34.65. The company has a market cap of $1.928 billion and a P/E ratio of 26.94.
Thoratec (NASDAQ:THOR) last announced its earnings results on Tuesday, May 6th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.02. The company had revenue of $125.70 million for the quarter, compared to the consensus estimate of $122.56 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, analysts predict that Thoratec will post $1.76 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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