Thoratec's (THOR) New CEO Seen as Positive, Says Wells Fargo (Earlier)

Wells Fargo earlier maintained an Market Perform rating on Thoratec (NASDAQ: THOR). Comments follow news D. Keith Grossman has been appointed President and Chief Executive Officer, effective immediately. Mr. Grossman succeeds Gary F. Burbach, who has stepped down. In the view of analyst Larry Biegelsen, the news wasn't a complete surprise.

The analyst went on to say he thinks investors will focus on Grossman's track record at Conceptus, which was turned around and eventually sold to Bayer. In Biegelsen's view, Thoratec could be an attractive M&A candidate once investors have clarity on its HeartMate III device.

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 $26.14 yesterday.

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