Loading...
Loading...
Canaccord reiterates its Hold rating on Thoratec
THOR and lowers its price target to $31 a share on expectation of slowing growth between 2012-2015, as well as potential pump thrombosis-related issues with HM-II.
Canaccord notes, "We are bullish on the LVAD market potential overall, but maintain our HOLD rating on THOR as we believe growth will slow in 2012-2015E owing to expected US launch of HeartWare's HVAD (mid-‘12E approval). We also think shares could pull
back on reports of increased pump thrombosis events with HM-II at some centers. ...We communicated with 13 LVAD surgeons, four of whom confirmed they have experienced an increase in pump thrombus events in their practice over the past “few weeks/months.” Notably, all four responded that the culprit device was HM-II."
THOR closed at $30.97 a share on Monday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in