Thoratec Corp. – Aggressive Growth – Zacks Rank Buy | Stock Market News & Stocks to Watch from StraightStocks

Thoratec Corp. – Aggressive Growth – Zacks Rank Buy

Source: http://www.zacks.com/commentary/9474/Thoratec+Corp.++-+Aggressive+Growth+-+Zacks+Rank+Buy
Posted on Sunday, December 14th, 2008 | In Stocks to Watch

Contributed by: Zacks Market Commentaries (http://www.zacks.com/) -

Thoratec Corporation (THOR) is coming off of an excellent quarterly announcement that showed a spike in revenue and another earnings surprise. Thoratec was originally featured as a Zacks Rank Buy in August.

Company Description

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Thoratec Corporation provides cardiac support devices for use by patients with acute or chronic heart failure. Some of the products will pump blood through the heart for prolonged periods of time in the event of cardiac arrest. The company is headquartered in Pleasanton, California, employs more than 1,000 people internationally, and carries a market cap of $1.36 billion.

Revenues Up 44%

On Oct 30 Thoratec announced third quarter results including a 44% increase in revenues. Total revenues for the quarter were $80.8 million up from $56.1 million, one year ago. Earnings per share came in at 13 cents, 86% higher than the 7 cents forecast by analysts.

The surprise was the third in the past 4 announcements.

Estimates Are Climbing

Analysts are bullish as they have been upwardly revising estimates across the board. The full-year consensus estimate for 2008 is now 46 cents per share, up from 38 cents in the last 60 days. Given the consensus, the year-over-year growth rate is 168%.

Read the August 14th analysis.

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MasTec, Inc. (MTZ) has posted record revenue levels as it posted its fourth earnings surprise in the past 4 quarters. The company also reiterated its guidance for 2008 and 2009.

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“THOR” Free Stock Analysis: Buy? Sell? Hold?
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