Oppenheimer Raises EPS Estimates on Thoratec

A report from Oppenheimer raises its FY11/12 EPS estimates to $1.50 and $1.67 on Thoratec

. It also reiterates its Outperform rating and $40 price target. The report states, “3Q revenues of $102.6M (+13% y/y) were slightly below us ($104.8M) and consensus ($103.3M). THOR trimmed '11 sales guidance by $5-6M to $418-423M. The company is seeing slower near-term implant rates owing to capacity constraints at implant centers. Importantly, management comments echoed what we heard from the cardiology community at the recent HFSA meeting—the interest level among referring docs continues to build." THOR closed yesterday at $34.89.