Wedbush Assumes Coverage on Thoratec (THOR) at Neutral; Competition to Present Challenging Headwinds
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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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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.
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.
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