Thoratec Rating Reiterated by Zacks (THOR)
Thoratec (NASDAQ:THOR)‘s stock had its “neutral” rating reiterated by Zacks in a research report issued to clients and investors on Friday. They currently have a $24.00 target price on the stock. Zacks‘s target price would suggest a potential upside of 5.54% from the stock’s previous close.
Zacks’ analyst wrote, “Thoratec Corp.’s 2014-second quarter earnings dropped 34.1% year over year to $0.29 and lagged the Zacks Consensus Estimate by $0.02. Revenues also fell 9.5% to $118.1 million in the quarter and missed the mark. The company faced difficult quarterly comparisons in the businesses across Europe and Japan and a decline in HeartMate II sales. For fiscal 2014, the company lowered its adjusted earnings per share guidance to $1.25-$1.35 and revenue guidance to a range of $455 to $470 million. We maintain our Neutral recommendation on Thoratec and set a target price of $24.00.”
A number of other firms have also recently commented on THOR. Analysts at Canaccord Genuity reiterated a “buy” rating on shares of Thoratec in a research note on Friday. They now have a $28.00 price target on the stock, down previously from $39.00. Separately, analysts at Bank of America downgraded shares of Thoratec to a “neutral” rating in a research note on Thursday. Finally, analysts at Raymond James reiterated an “outperform” rating on shares of Thoratec in a research note on Thursday. They now have a $30.00 price target on the stock, down previously from $41.00. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $35.17.
Shares of Thoratec (NASDAQ:THOR) traded down 0.09% during mid-day trading on Friday, hitting $22.72. The stock had a trading volume of 1,557,416 shares. Thoratec has a 52-week low of $22.50 and a 52-week high of $43.58. The stock’s 50-day moving average is $33.17 and its 200-day moving average is $34.01. The company has a market cap of $1.280 billion and a price-to-earnings ratio of 19.45.
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. Analysts expect that Thoratec will post $1.51 EPS 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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