Thoratec Reaches New 52-Week High (THOR)

NEW YORK ( TheStreet) -- Thoratec Corporation (Nasdaq: THOR) hit a new 52-week high Monday as it is currently trading at $37.56, above its previous 52-week high of $37.55 with 353,100 shares traded as of 2:26 p.m. ET. Average volume has been 864,100 shares over the past 30 days.

Thoratec has a market cap of $2.1 billion and is part of the health care sector and health services industry. Shares are up 27.6% year to date as of the close of trading on Friday.

Thoratec Corporation develops, manufactures, and markets proprietary medical devices used for circulatory support. The company has a P/E ratio of 32.4, below the average health services industry P/E ratio of 34.2 and above the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Thoratec as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and expanding profit margins. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full Thoratec Ratings Report.

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