Auriga Maintains a 'Hold' on Thoratec (THOR); Encouraging Trends in 4Q; Guidance Looks Manageable
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Price: $26.43 +0.38%
Rating Summary:
8 Buy, 16 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
8 Buy, 16 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Auriga maintains a 'Hold' on Thoratec (NASDAQ: THOR) price target of $35.00.
Auriga analyst says, "Yesterday, Thoratec reported 4Q11 revenue of $109MM (+12%; 0% F/X), in line with our $109MM estimate and ahead of the consensus ($108MM) as end market demand was solid in both the U.S. and Europe, due in part to market share gains (Europe) and continuing market development efforts. THOR is working closely with the centers that experienced an uptick in thrombosis rates, but noted the long term safety profile of HM II remains intact. Despite the promising market trends, THOR's 2012 outlook remains tied to HeartWare (Nasdaq: HTWR)(Hold), as HTWR's HVAD pump would directly compete with ~30% of THOR's business. That said, THOR's results for the first half of the year should be very solid for THOR as they are currently the only option for BTT patients in the U.S. We believe once investors gain some clarity around the timing of HTWR's launch, we believe the focus will shift toward THOR's interesting (and underappreciated) pipeline."
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 $30.81 yesterday.
Auriga analyst says, "Yesterday, Thoratec reported 4Q11 revenue of $109MM (+12%; 0% F/X), in line with our $109MM estimate and ahead of the consensus ($108MM) as end market demand was solid in both the U.S. and Europe, due in part to market share gains (Europe) and continuing market development efforts. THOR is working closely with the centers that experienced an uptick in thrombosis rates, but noted the long term safety profile of HM II remains intact. Despite the promising market trends, THOR's 2012 outlook remains tied to HeartWare (Nasdaq: HTWR)(Hold), as HTWR's HVAD pump would directly compete with ~30% of THOR's business. That said, THOR's results for the first half of the year should be very solid for THOR as they are currently the only option for BTT patients in the U.S. We believe once investors gain some clarity around the timing of HTWR's launch, we believe the focus will shift toward THOR's interesting (and underappreciated) pipeline."
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 $30.81 yesterday.
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