thorate on fire

Posted on 12/02/09 at 2:29pm by Ed Liston

Soleil Capital has maintained its ‘Buy’ recommendation on Thoratec Corp (NYSE: THOR). It has given a 12-months price target of $37. This is based on expected multiple of 5.5 on estimated FY2010 sales. Soleil has pegged the estimated sales at $ 440 million. Price target of $37 is also supported by the multiple of 37 on non-GAAP 2010 EPS estimate of $1. Consensus figures for estimated sales and EPS are $ 430 million and $1.03 respectively.

Thoratec is also expected to get FDA approval for HMII for the DT indication. This is in sync with Thoratec’s time line projection of 8 months for approval. Thus such approval is anticipated to be obtained by the first quarter of 2010. Another positive point is that sales of Ventricular assist device (VAD) is likely to see a surge in its sales in the coming time period. Thoratec (THOR) Is One of Today's Top Gainers On Heart Pump Study Results

Posted: Tuesday, November 17, 2009 2:39 PM EDT

Thoratec (THOR) leads the list of top gainers so far today, helped by a study released today that shows that the company's HeartMate II heart pump greatly improves survival of people with severe heart failure. The stock is now at $30.59, up $2.51 (8.94%) on volume of 4,687,372 shares traded. Over the last 52 weeks the stock has ranged from a low of $18.56 to a high of $33.43. Thoratec stock has been showing support around $26.41 and resistance in the $30.83 range. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for THOR. If you are looking for a hedged play on THOR the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 27.50 range. [ABR-Seven Summits Strategic Investments NewsBite]

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