Wedbush Assumes Coverage on Thoratec (THOR) at Neutral; Competition to Present Challenging Headwinds
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Price: $32.60 -1.9%
Rating Summary:
13 Buy, 12 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Rating Summary:
13 Buy, 12 Hold, 0 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 11 | Down: 35 | New: 23
Trade THOR Now!
Wedbush assumes coverage on Thoratec (NASDAQ: THOR) with a Neutral. PT $31.00.
Analyst, Akiva Felt, said, "Our cautious outlook for THOR stems from upcoming competitive headwinds which we expect to weigh on the company’s ability to generate meaningful topline growth during 2012-2013. We note that THOR tends to take a conservative approach to setting guidance and we believe this year is no exception as the timing of approval for HeartWare’s (Nasdaq: HTWR)(OUTPERFORM) HVAD in Bridge-to-Transplant (BTT) remains uncertain (we currently expect a Q3:12 launch). Nevertheless, THOR’s current FY:12 revenue guidance of $445-460 million implies just 5-9% annual topline growth, which in our view does not represent a compelling near-term growth story."
Wedbush slightly adjusts FY12 EPS/Rev from $1.65/453.1mln to $1.66/453.8mln.
For an analyst ratings summary and ratings history on Thoratec click here. For more ratings news on Thoratec click here.
Shares of Thoratec closed at $34.18 yesterday, with a 52 week range of $24.75-$38.07.
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Analyst, Akiva Felt, said, "Our cautious outlook for THOR stems from upcoming competitive headwinds which we expect to weigh on the company’s ability to generate meaningful topline growth during 2012-2013. We note that THOR tends to take a conservative approach to setting guidance and we believe this year is no exception as the timing of approval for HeartWare’s (Nasdaq: HTWR)(OUTPERFORM) HVAD in Bridge-to-Transplant (BTT) remains uncertain (we currently expect a Q3:12 launch). Nevertheless, THOR’s current FY:12 revenue guidance of $445-460 million implies just 5-9% annual topline growth, which in our view does not represent a compelling near-term growth story."
Wedbush slightly adjusts FY12 EPS/Rev from $1.65/453.1mln to $1.66/453.8mln.
For an analyst ratings summary and ratings history on Thoratec click here. For more ratings news on Thoratec click here.
Shares of Thoratec closed at $34.18 yesterday, with a 52 week range of $24.75-$38.07.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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