Auriga Maintains a 'Hold' on Thoratec (THOR); 2Q11 Review: Gaining Share in the US? Buys Out Partner, Raises Numbers
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Price: $67.99 --0%
Rating Summary:
8 Buy, 16 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
Rating Summary:
8 Buy, 16 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 17
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Auriga maintains a 'Hold' on Thoratec (NASDAQ: THOR), raises price target to $35.00.
Auriga analyst says, "Thoratec reported 2Q11 revenues of $111.2MM ahead of our $103.3MM estimate and the $104.6MM consensus, as unit volumes were up 10% sequentially and 19% Y/Y. THOR appears to be gaining share in the U.S., particularly among its Group 1 centers (17% sequential growth). These are THOR's original clinical trial centers and are currently conducting trials for HeartWare's (HTWR, Hold) HVAD. Growth within in this important segment suggests thrombosis worries and the sintering switch had an impact on HVAD uptake. THOR increased 2011 guidance to reflect the strong quarterly performance and the Levitronix acquisition (adds $4MM in revenue). However, THOR's guidance does suggest a seasonal slowdown in 3Q11 and incorporates. Overall, THOR delivered a solid quarter and its market development activities should leave it well positioned. That said, questions surrounding 2012 growth keep us on the sidelines."
For more ratings news on Thoratec click here and for the rating history of Thoratec click here.
Shares of Thoratec closed at $33.85 yesterday.
Auriga analyst says, "Thoratec reported 2Q11 revenues of $111.2MM ahead of our $103.3MM estimate and the $104.6MM consensus, as unit volumes were up 10% sequentially and 19% Y/Y. THOR appears to be gaining share in the U.S., particularly among its Group 1 centers (17% sequential growth). These are THOR's original clinical trial centers and are currently conducting trials for HeartWare's (HTWR, Hold) HVAD. Growth within in this important segment suggests thrombosis worries and the sintering switch had an impact on HVAD uptake. THOR increased 2011 guidance to reflect the strong quarterly performance and the Levitronix acquisition (adds $4MM in revenue). However, THOR's guidance does suggest a seasonal slowdown in 3Q11 and incorporates. Overall, THOR delivered a solid quarter and its market development activities should leave it well positioned. That said, questions surrounding 2012 growth keep us on the sidelines."
For more ratings news on Thoratec click here and for the rating history of Thoratec click here.
Shares of Thoratec closed at $33.85 yesterday.
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