Thoratec Given Average Recommendation of “Hold” by Brokerages (NASDAQ:THOR)
Shares of Thoratec (NASDAQ:THOR) have been given a consensus rating of “Hold” by the nineteen analysts that are presently covering the company, ARN reports. Ten research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $32.64.
THOR has been the subject of a number of recent research reports. Analysts at Piper Jaffray downgraded shares of Thoratec from an “overweight” rating to a “neutral” rating in a research note on Monday. They now have a $27.00 price target on the stock, down previously from $40.00. Separately, analysts at WallachBeth Capital cut their price target on shares of Thoratec from $38.00 to $28.00 in a research note on Wednesday, August 20th. They now have a “hold” rating on the stock. Finally, 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.
Shares of Thoratec (NASDAQ:THOR) opened at 24.73 on Thursday. 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 $29.18 and its 200-day moving average is $32.89. The company has a market cap of $1.392 billion and a P/E ratio of 21.09.
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 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 $1.34 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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