Thoratec Downgraded by Goldman Sachs to Neutral (THOR)
Thoratec (NASDAQ:THOR) was downgraded by research analysts at Goldman Sachs from a “buy” rating to a “neutral” rating in a report released on Thursday, TheFlyOnTheWall.com reports. They currently have a $28.00 price objective on the stock, down from their previous price objective of $38.00. Goldman Sachs’ price target points to a potential downside of 14.03% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Wells Fargo & Co. downgraded shares of Thoratec from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 29th. Separately, analysts at Raymond James cut their price target on shares of Thoratec from $44.00 to $41.00 in a research note on Monday, July 14th. Finally, analysts at TheStreet upgraded shares of Thoratec from a “hold” rating to a “buy” rating in a research note on Tuesday, July 8th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $38.00.
Shares of Thoratec (NASDAQ:THOR) traded down 29.23% during mid-day trading on Thursday, hitting $23.05. 4,606,465 shares of the company’s stock traded hands. Thoratec has a 1-year low of $30.01 and a 1-year high of $43.58. The stock’s 50-day moving average is $33.47 and its 200-day moving average is $34.09. The company has a market cap of $1.309 billion and a price-to-earnings ratio of 25.65.
Thoratec (NASDAQ:THOR) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.43 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.43. The company had revenue of $118.10 million for the quarter, compared to the consensus estimate of $128.30 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. The company’s quarterly revenue was down 9.5% on a year-over-year basis. On average, analysts predict that Thoratec 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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