WallachBeth Capital Cuts Thoratec Price Target to $28.00 (THOR)
Stock analysts at WallachBeth Capital lowered their price target on shares of Thoratec (NASDAQ:THOR) from $38.00 to $28.00 in a report issued on Wednesday. The firm currently has a “hold” rating on the stock. WallachBeth Capital’s target price suggests a potential upside of 15.23% from the company’s current price.
Thoratec (NASDAQ:THOR) opened at 24.30 on Wednesday. Thoratec has a 1-year low of $22.50 and a 1-year high of $43.58. The stock’s 50-day moving average is $30.63 and its 200-day moving average is $33.31. The company has a market cap of $1.368 billion and a P/E ratio of 20.40.
Thoratec (NASDAQ:THOR) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.43 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $0.52 earnings per share. Thoratec’s revenue was down 9.5% compared to the same quarter last year. On average, analysts predict that Thoratec will post $1.34 earnings per share for the current fiscal year.
THOR has been the subject of a number of other recent research reports. Analysts at Northland Securities downgraded shares of Thoratec from an “outperform” rating to a “market perform” rating in a research note on Monday, August 11th. They now have a $26.00 price target on the stock, down previously from $46.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Thoratec in a research note on Friday, August 8th. They now have a $24.00 price target on the stock. Finally, analysts at Canaccord Genuity reiterated a “buy” rating on shares of Thoratec in a research note on Friday, August 8th. They now have a $28.00 price target on the stock, down previously from $39.00. Nine research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $33.08.
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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