Thoratec Corp. (NASDAQ:THOR) was upgraded by investment analysts at Credit Suisse from an “underperform” rating to a “neutral” rating in a note issued to investors on Monday, TheFlyOnTheWall.com reports.
Several other analysts have also recently commented on the stock. Analysts at Oppenheimer cut their price target on shares of Thoratec Corp. from $43.00 to $42.00 in a research note to investors on Friday, May 3rd. They now have an “outperform” rating on the stock. Separately, analysts at Canaccord Genuity cut their price target on shares of Thoratec Corp. from $39.00 to $36.00 in a research note to investors on Friday, May 3rd. They now have a “hold” rating on the stock. Finally, analysts at Barclays Capital reiterated an “overweight” rating on shares of Thoratec Corp. in a research note to investors on Friday, May 3rd. They now have a $43.00 price target on the stock.
Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Thoratec Corp. currently has a consensus rating of “Hold” and a consensus price target of $40.25.
Thoratec Corp. (NASDAQ:THOR) traded up 0.68% on Monday, hitting $32.78. Thoratec Corp. has a 1-year low of $29.91 and a 1-year high of $39.86. The stock’s 50-day moving average is currently $31.80. The company has a market cap of $1.879 billion and a price-to-earnings ratio of 39.66.
Thoratec Corp. (NASDAQ:THOR) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.41 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.46 by $0.05. The company had revenue of $117.73 million for the quarter, compared to the consensus estimate of $122.53 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company’s quarterly revenue was down 7.1% on a year-over-year basis. Thoratec Corp. has set its FY13 guidance at $1.76-1.86 EPS. Analysts expect that Thoratec Corp. will post $1.75 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.