(THOR) Thoratec Corporation – Bull of the Day

We upgrade our recommendation for Thoratec Corporation (THOR) to Outperform. HeartMate II units rose 22% in the six months ending June 30, 2012 wrapping up a robust half-year. Its competitor, HeartWare, has filed a PMA for a similar device which is not expected to be launched until 2015.

We believe that products such as HeartMate II will account for the major part of growth in the Ventricular Assist Device (VAD) market. Also, the company continues to do well in overseas markets despite economic turmoil in Europe.

The company recently raised guidance for 2012 following its results in the second quarter. We upgrade our recommendation on the stock with a price target of $44.00, based on a P/E of 29.3x our 2012 EPS estimate.

Zacks Investment Research

About vitalstocks

This is a sample profile field. Vitalstocks is the operating company for Stockbloghub. This will place the picture of the author or company in the profile. Here is another extra line of information.


Powered by Facebook Comments

Similar Posts: | | Healthcare | Medical Instruments & Supplies

RSS feeds: THOR | Thoratec Corporation | Healthcare | Medical Instruments & Supplies |

Other Posts by | RSS Feed for this author