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Last $62.59 USD
Change Today +0.20 / 0.32%
Volume 812.0K
THOR On Other Exchanges
Symbol
Exchange
Berlin
As of 8:10 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

thoratec corp (THOR) Snapshot

Open
$62.44
Previous Close
$62.39
Day High
$62.65
Day Low
$62.39
52 Week High
07/22/15 - $63.51
52 Week Low
09/2/14 - $24.57
Market Cap
3.4B
Average Volume 10 Days
1.9M
EPS TTM
$0.74
Shares Outstanding
54.8M
EX-Date
--
P/E TM
84.4x
Dividend
--
Dividend Yield
--
Current Stock Chart for THORATEC CORP (THOR)

thoratec corp (THOR) Related Businessweek News

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thoratec corp (THOR) Details

Thoratec Corporation, together with its subsidiaries, develops, manufactures, and markets proprietary medical devices used for mechanical circulatory support for the treatment of heart failure patients. The company’s primary product lines include ventricular assist devices, including HeartMate II, an implantable, electrically powered, continuous flow, left ventricular assist device (LVAD) consisting of a rotary blood pump designed to provide intermediate and long-term mechanical circulatory support (MCS); CentriMag an extracorporeal circulatory support device that provides hemodynamic stabilization in patients in need of cardiopulmonary support. It also offers PediMag and PediVAS extracorporeal full-flow acute surgical support platforms incorporating a polycarbonate pump, based on magnetically levitated bearingless motor technology, designed to provide acute surgical support to pediatric patients. In addition, it provides Thoratec Paracorporeal Ventricular Assist Device (PVAD) an external, pulsatile ventricular assist device (VAD), FDA-approved for bridge-to-transplantation (BTT) and post-cardiotomy myocardial recovery; and Thoratec Implantable Ventricular Assist Device (IVAD) an implantable, pulsatile, VAD, FDA-approved for BTT, including home discharge, and post-cardiotomy myocardial recovery and provides left, right or biventricular MCS The company markets its products through cardiovascular sales specialists and distributors in the United States and internationally. Thoratec Corporation was founded in 1976 and is headquartered in Pleasanton, California.

954 Employees
Last Reported Date: 02/19/15
Founded in 1976

thoratec corp (THOR) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $201.9K
Chief Financial Officer and Vice President
Total Annual Compensation: $341.3K
President of North America
Total Annual Compensation: $233.1K
Senior Vice President and General Counsel
Total Annual Compensation: $355.8K
Senior Vice President of Technical Operations
Total Annual Compensation: $190.7K
Compensation as of Fiscal Year 2014.

thoratec corp (THOR) Key Developments

Thoratec Corp. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended July 4, 2015

Thoratec Corp. reported unaudited consolidated earnings results for the second quarter and six months ended July 4, 2015. For the quarter, the company reported revenues of $128.7 million, a nine % increase versus revenues of $118.1 million in the same period a year ago. Net income on a GAAP basis was $13.2 million, or $0.24 per diluted share, compared to GAAP net income of $17.4 million, or $0.30 per diluted share, in the same period last year. Non-GAAP net income was $20.2 million or $0.37 per diluted share in the second quarter of 2015, compared to non-GAAP net income of $24.4 million, or $0.43 per diluted share, in the second quarter of 2014. Second quarter revenue growth was driven by the HeartMate franchise, reflecting both an acceleration in worldwide market growth for chronic MCS pumps, which reached approximately 18% in terms of pump units sold, along with market share gains in the U.S. Year-over-year HeartMate pump unit growth of 20% worldwide consisted of an 18% increase in the U.S. and growth of 27% internationally. Income from operations was $18.35 million against $25.23 million a year ago. Income before taxes was $19.026 million against $25.788 million a year ago. For the first six months of fiscal 2015, revenues were $250.0 million, an increase of 3% over revenues of $243.8 million in the same period a year ago. Net income on a GAAP basis was $24.0 million, or $0.44 per diluted share, compared with GAAP net income of $35.7 million, or $0.62 per diluted share, in the same period a year ago. Non-GAAP net income was $41.1 million, or $0.75 per diluted share, compared with non-GAAP net income of $48.1 million, or $0.84 per diluted share, in the same period a year ago. Income from operations was $36.297 million against $52.062 million a year ago. Income before taxes was $37.788 million against $52.866 million a year ago.

Thoratec Corp. Receives CE Mark Approval for its HeartMate PHP™ Pump

ACI Association has initiated research coverage on Thoratec Corp. Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members. Highlights from the company's THOR Report include: HeartMate PHP Meets Requirements of European Community Directives - Thoratec Corporation (Thoratec) reported that its HeartMate PHP (Percutaneous Heart Pump) product has received CE Mark approval, thereby enabling the product's sale in the European Union and other international countries. Thoratec informed that HeartMate PHP is an acute cardiac assist device which is designed to uncouple the traditional relationship between size and flow in catheter-based support devices; Clinical Trial's Primary Objective -As per the Company, the approval was based on data findings from the first 30 patients enrolled in the HeartMate PHP SHIELD I CE Mark trial. The primary objective of the trial was to evaluate the use of PHP to support patients going through from a high-risk PCI (percutaneous coronary intervention) procedure. As per the data from all 50 patients enrolled in the study will be presented later in 2015; On July 13, 2015, Cardiac Interventions Thoratec has recently received unconditional approval from the FDA for SHIELD II United States device exemption clinical trial and is expected to begin enrollment during the third quarter. In its earlier dated July 6, 2015, Thoratec announced that the first HeartMate 3™ implant had been conducted via mini-thoracotomy. The Company reported that the implant starts a European study that seeks to assess outcomes and complications of using less invasive surgical placement through hemi-sternotomy and left thoracotomy techniques.

Thoratec Corporation Amends its Third Amended and Restated By-Laws

On July 21, 2015, the board of Thoratec Corporation amended the company's third amended and restated by-laws by adding a new Section 39, which provides that unless the company consents in writing to the selection of an alternative forum, the United States District Court for the Northern District of California shall be the sole and exclusive forum for any derivative action or proceeding brought on behalf of the company, any action asserting a claim of breach of any duty owed by any director or officer or other employee of the company to the company or to the shareholders of the company, any action asserting a claim against the company or any director or officer or other employee of the company arising pursuant to any provision of the California corporations code or the articles of incorporation of the company or the bylaws, or any action asserting a claim against the company or any director or officer or other employee of the company that is governed by the internal affairs doctrine.

 

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Industry Analysis

THOR

Industry Average

Valuation THOR Industry Range
Price/Earnings 89.6x
Price/Sales 7.0x
Price/Book 5.0x
Price/Cash Flow 88.5x
TEV/Sales 6.5x
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