Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Thoratec
So what: Third-quarter revenue grew 13% but came up short of expectations. Adjusted earnings improved 28% to $0.41 a share, well above Wall Street's $0.34-per-share target, but weak sales weighed on 2011 guidance. Thoratec now expects sales to come in between $418 million to $423 million this year, down from earlier estimates of $422 million to $430 million.
Now what: Though the miss and decline must to be disappointing to some, the stock has to be nearing an attractive entry point for the equity analysts at Canaccord Genuity. They list Thoratec alongside AtriCure
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