Thoratec rated sector perform by RBC

RBC Capital Markets analyst Phil Nalbone gave Thoratec Corp. a rating of sector perform, speculative risk, and maintained the $16 price target on the company's reported third-quarter results. Thoratec reported revenue of $51.75 million, an increase of 6% from the year-ago quarter, but below the analyst's estimate of $52.78 million. In addition, HeartMate II milestones are tracking with RBC's expectations, with Food and Drug Administration approval for HeartMate II anticipated in mid-2007. Shares of the Pleasanton, Calif.-based medical device manufacturing company were up 24 cents, or 1.55%, at $15.75. (Nasdaq: THOR)

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.