Thoratec Stock Rating Reaffirmed by Canaccord Genuity (THOR)
Thoratec (NASDAQ:THOR)‘s stock had its “buy” rating restated by Canaccord Genuity in a research note issued on Friday. They currently have a $28.00 price target on the stock, down from their previous price target of $39.00. Canaccord Genuity’s target price would suggest a potential upside of 23.13% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Bank of America downgraded shares of Thoratec to a “neutral” rating in a research note on Thursday. Separately, 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. Finally, analysts at Leerink Swann reiterated an “outperform” rating on shares of Thoratec in a research note on Thursday. They now have a $35.00 price target on the stock, down previously from $40.00. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $36.18.
Shares of Thoratec (NASDAQ:THOR) opened at 22.74 on Friday. Thoratec has a one year low of $22.50 and a one year 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 $1.292 billion and a price-to-earnings ratio of 25.65.
Thoratec (NASDAQ:THOR) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.43 earnings per share (EPS) for the quarter, meeting the 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 previous year, the company posted $0.52 earnings per share. The company’s revenue for the quarter 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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