Thoratec (THOR) Trading With Heavy Volume Before Market Open

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Trade-Ideas LLC identified Thoratec ( THOR) as a pre-market mover with heavy volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Thoratec as such a stock due to the following factors:

  • THOR has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $15.2 million.
  • THOR traded 91,339 shares today in the pre-market hours as of 7:42 AM, representing 13.7% of its average daily volume.

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More details on THOR:

Thoratec Corporation develops, manufactures, and markets proprietary medical devices used for mechanical circulatory support for the treatment of heart failure patients. THOR has a PE ratio of 25.9. Currently there are 9 analysts that rate Thoratec a buy, no analysts rate it a sell, and 3 rate it a hold.

The average volume for Thoratec has been 483,500 shares per day over the past 30 days. Thoratec has a market cap of $1.9 billion and is part of the health care sector and health services industry. The stock has a beta of 0.82 and a short float of 5.6% with 5.53 days to cover. Shares are down 10.3% year-to-date as of the close of trading on Tuesday.

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TheStreetRatings.com Analysis:

TheStreet Quant Ratings rates Thoratec as a buy. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.

Highlights from the ratings report include:
  • The net income growth from the same quarter one year ago has exceeded that of the S&P 500 and the Health Care Equipment & Supplies industry average. The net income increased by 0.4% when compared to the same quarter one year prior, going from $18.17 million to $18.24 million.
  • Despite its growing revenue, the company underperformed as compared with the industry average of 8.8%. Since the same quarter one year prior, revenues slightly increased by 6.8%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • THOR has no debt to speak of therefore resulting in a debt-to-equity ratio of zero, which we consider to be a relatively favorable sign. Along with this, the company maintains a quick ratio of 5.23, which clearly demonstrates the ability to cover short-term cash needs.
  • Net operating cash flow has increased to $17.43 million or 29.14% when compared to the same quarter last year. In addition, THORATEC CORP has also vastly surpassed the industry average cash flow growth rate of -30.55%.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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