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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 9/10

vs
industry
vs
history
Cash to Debt No Debt
THOR's Cash to Debt is ranked higher than
81% of the 383 Companies
in the Global Medical Devices industry.

( Industry Median: 4.48 vs. THOR: No Debt )
THOR' s 10-Year Cash to Debt Range
Min: 0.94   Max: No Debt
Current: No Debt

Equity to Asset 0.86
THOR's Equity to Asset is ranked higher than
91% of the 366 Companies
in the Global Medical Devices industry.

( Industry Median: 0.65 vs. THOR: 0.86 )
THOR' s 10-Year Equity to Asset Range
Min: 0.39   Max: 0.91
Current: 0.86

0.39
0.91
Interest Coverage 24387.00
THOR's Interest Coverage is ranked higher than
100% of the 206 Companies
in the Global Medical Devices industry.

( Industry Median: 117.58 vs. THOR: 24387.00 )
THOR' s 10-Year Interest Coverage Range
Min: 2.02   Max: 9999.99
Current: 24387

2.02
9999.99
F-Score: 7
Z-Score: 11.58
M-Score: -2.75
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 7/10

vs
industry
vs
history
Operating margin (%) 19.40
THOR's Operating margin (%) is ranked higher than
92% of the 371 Companies
in the Global Medical Devices industry.

( Industry Median: 6.50 vs. THOR: 19.40 )
THOR' s 10-Year Operating margin (%) Range
Min: -82.51   Max: 27.01
Current: 19.4

-82.51
27.01
Net-margin (%) 14.58
THOR's Net-margin (%) is ranked higher than
90% of the 371 Companies
in the Global Medical Devices industry.

( Industry Median: 4.82 vs. THOR: 14.58 )
THOR' s 10-Year Net-margin (%) Range
Min: -77.49   Max: 16.92
Current: 14.58

-77.49
16.92
ROE (%) 11.00
THOR's ROE (%) is ranked higher than
84% of the 368 Companies
in the Global Medical Devices industry.

( Industry Median: 5.93 vs. THOR: 11.00 )
THOR' s 10-Year ROE (%) Range
Min: -111.76   Max: 47.21
Current: 11

-111.76
47.21
ROA (%) 9.26
THOR's ROA (%) is ranked higher than
89% of the 381 Companies
in the Global Medical Devices industry.

( Industry Median: 3.43 vs. THOR: 9.26 )
THOR' s 10-Year ROA (%) Range
Min: -43.18   Max: 38.34
Current: 9.26

-43.18
38.34
ROC (Joel Greenblatt) (%) 69.32
THOR's ROC (Joel Greenblatt) (%) is ranked higher than
96% of the 380 Companies
in the Global Medical Devices industry.

( Industry Median: 13.69 vs. THOR: 69.32 )
THOR' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -139.95   Max: 80.93
Current: 69.32

-139.95
80.93
Revenue Growth (%) 10.00
THOR's Revenue Growth (%) is ranked higher than
84% of the 298 Companies
in the Global Medical Devices industry.

( Industry Median: 5.40 vs. THOR: 10.00 )
THOR' s 10-Year Revenue Growth (%) Range
Min: -2.1   Max: 71.9
Current: 10

-2.1
71.9
EBITDA Growth (%) -0.50
THOR's EBITDA Growth (%) is ranked higher than
78% of the 279 Companies
in the Global Medical Devices industry.

( Industry Median: -3.60 vs. THOR: -0.50 )
THOR' s 10-Year EBITDA Growth (%) Range
Min: -5.7   Max: 133.5
Current: -0.5

-5.7
133.5
EPS Growth (%) 8.40
THOR's EPS Growth (%) is ranked higher than
80% of the 262 Companies
in the Global Medical Devices industry.

( Industry Median: -1.70 vs. THOR: 8.40 )
THOR' s 10-Year EPS Growth (%) Range
Min: -66.2   Max: 196.2
Current: 8.4

-66.2
196.2
» THOR's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q3 2013

THOR Guru Trades in Q3 2013

John Burbank 364,093 sh (New)
Steven Cohen 230,009 sh (+2747.35%)
Manning & Napier Advisors, Inc 748,680 sh (+55.87%)
Joel Greenblatt Sold Out
Paul Tudor Jones Sold Out
Chuck Royce 728,900 sh (-20.24%)
Jim Simons 1,225,939 sh (-23.87%)
» More
Q4 2013

THOR Guru Trades in Q4 2013

Joel Greenblatt 8,481 sh (New)
Paul Tudor Jones 11,982 sh (New)
Manning & Napier Advisors, Inc 763,890 sh (+2.03%)
John Burbank Sold Out
Chuck Royce 641,900 sh (-11.94%)
Jim Simons 1,049,039 sh (-14.43%)
Steven Cohen 31,350 sh (-86.37%)
» More
Q1 2014

THOR Guru Trades in Q1 2014

Steven Cohen 82,293 sh (+162.5%)
Paul Tudor Jones 13,026 sh (+8.71%)
Jim Simons 1,050,949 sh (+0.18%)
Joel Greenblatt Sold Out
Chuck Royce 622,900 sh (-2.96%)
Manning & Napier Advisors, Inc 551,430 sh (-27.81%)
» More
Q2 2014

THOR Guru Trades in Q2 2014

Manning & Napier Advisors, Inc 661,190 sh (+19.9%)
» More
» Details

Insider Trades

Latest Guru Trades with THOR

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Joel Greenblatt 2014-03-31 Sold Out 0.01%$33.8 - $38.66 $ 32.68-9%0
John Burbank 2013-12-31 Sold Out 0.44%$35.85 - $43.3 $ 32.68-17%0
Joel Greenblatt 2013-12-31 New Buy0.01%$35.85 - $43.3 $ 32.68-17%8481
John Burbank 2013-09-30 New Buy0.44%$30.7 - $37.64 $ 32.68-6%364093
Joel Greenblatt 2013-09-30 Sold Out 0.12%$30.7 - $37.64 $ 32.68-6%0
John Burbank 2013-06-30 Sold Out 0.34%$30.09 - $37.64 $ 32.68-3%0
John Burbank 2013-03-31 Reduce -43.75%0.25%$35.22 - $38.12 $ 32.68-10%225000
Joel Greenblatt 2013-03-31 Add 55.06%0.07%$35.22 - $38.12 $ 32.68-10%109834
Daniel Loeb 2012-09-30 Sold Out 1%$31.17 - $36.03 $ 32.68-3%0
John Burbank 2012-09-30 Reduce -38.28%0.28%$31.17 - $36.03 $ 32.68-3%400180
Joel Greenblatt 2012-09-30 Reduce -20.46%0.05%$31.17 - $36.03 $ 32.68-3%72252
John Burbank 2012-06-30 Reduce -41.93%0.55%$29.75 - $35.87 $ 32.681%648336
Daniel Loeb 2012-06-30 Add 100%0.5%$29.75 - $35.87 $ 32.681%1000000
Joel Greenblatt 2012-06-30 Add 122.67%0.12%$29.75 - $35.87 $ 32.681%90834
John Burbank 2012-03-31 Reduce -44.49%2.4%$29 - $35.72 $ 32.686%1116400
Daniel Loeb 2012-03-31 New Buy0.42%$29 - $35.72 $ 32.686%500000
Joel Greenblatt 2012-03-31 Add 72.67%0.05%$29 - $35.72 $ 32.686%40793
Joel Greenblatt 2011-12-31 Add 52.64%0.03%$28.16 - $37.37 $ 32.681%23625
George Soros 2011-12-31 Sold Out 0.0002%$28.16 - $37.37 $ 32.681%0
Lee Ainslie 2011-09-30 Sold Out 0.5256%$30.16 - $36.64 $ 32.68-1%0
Joel Greenblatt 2011-09-30 Reduce -32.52%0.03%$30.16 - $36.64 $ 32.68-1%15478
George Soros 2011-09-30 New Buy$30.16 - $36.64 $ 32.68-1%400
Lee Ainslie 2011-06-30 Reduce -68.97%1.01%$26.42 - $35.7 $ 32.684%1661138
Joel Greenblatt 2011-06-30 Reduce -33.02%0.09%$26.42 - $35.7 $ 32.684%22936
Premium More recent guru trades are included for Premium Members only!!
» Interactive Charts

Peter Lynch Chart ( What is Peter Lynch Charts )

Ratios

vs
industry
vs
history
P/E(ttm) 25.70
THOR's P/E(ttm) is ranked higher than
86% of the 411 Companies
in the Global Medical Devices industry.

( Industry Median: 67.30 vs. THOR: 25.70 )
THOR' s 10-Year P/E(ttm) Range
Min: 22.61   Max: 541.28
Current: 25.7

22.61
541.28
P/B 2.80
THOR's P/B is ranked higher than
74% of the 411 Companies
in the Global Medical Devices industry.

( Industry Median: 3.60 vs. THOR: 2.80 )
THOR' s 10-Year P/B Range
Min: 1.42   Max: 4.72
Current: 2.8

1.42
4.72
P/S 3.72
THOR's P/S is ranked higher than
64% of the 411 Companies
in the Global Medical Devices industry.

( Industry Median: 3.28 vs. THOR: 3.72 )
THOR' s 10-Year P/S Range
Min: 2.77   Max: 8.2
Current: 3.72

2.77
8.2
PFCF 18.00
THOR's PFCF is ranked higher than
92% of the 411 Companies
in the Global Medical Devices industry.

( Industry Median: 2429.50 vs. THOR: 18.00 )
THOR' s 10-Year PFCF Range
Min: 13.26   Max: 2111
Current: 18

13.26
2111
EV-to-EBIT 15.51
THOR's EV-to-EBIT is ranked higher than
90% of the 411 Companies
in the Global Medical Devices industry.

( Industry Median: 44.62 vs. THOR: 15.51 )
THOR' s 10-Year EV-to-EBIT Range
Min: 10.2   Max: 287.2
Current: 15.51

10.2
287.2
PEG 3.50
THOR's PEG is ranked higher than
90% of the 411 Companies
in the Global Medical Devices industry.

( Industry Median: 9999.00 vs. THOR: 3.50 )
THOR' s 10-Year PEG Range
Min: 0.54   Max: 512.38
Current: 3.5

0.54
512.38
Shiller P/E 34.20
THOR's Shiller P/E is ranked higher than
89% of the 411 Companies
in the Global Medical Devices industry.

( Industry Median: 9999.00 vs. THOR: 34.20 )
THOR' s 10-Year Shiller P/E Range
Min: 32.92   Max: 427.2
Current: 34.2

32.92
427.2
Current Ratio 6.36
THOR's Current Ratio is ranked higher than
91% of the 379 Companies
in the Global Medical Devices industry.

( Industry Median: 2.94 vs. THOR: 6.36 )
THOR' s 10-Year Current Ratio Range
Min: 1.9   Max: 13.05
Current: 6.36

1.9
13.05
Quick Ratio 5.55
THOR's Quick Ratio is ranked higher than
89% of the 379 Companies
in the Global Medical Devices industry.

( Industry Median: 2.19 vs. THOR: 5.55 )
THOR' s 10-Year Quick Ratio Range
Min: 1.1   Max: 11.18
Current: 5.55

1.1
11.18

Valuation & Return

vs
industry
vs
history
Price/Net Cash 10.20
THOR's Price/Net Cash is ranked higher than
92% of the 411 Companies
in the Global Medical Devices industry.

( Industry Median: 9999.00 vs. THOR: 10.20 )
THOR' s 10-Year Price/Net Cash Range
Min: 4.25   Max: 1087.5
Current: 10.2

4.25
1087.5
Price/Net Current Asset Value 6.70
THOR's Price/Net Current Asset Value is ranked higher than
91% of the 411 Companies
in the Global Medical Devices industry.

( Industry Median: 9999.00 vs. THOR: 6.70 )
THOR' s 10-Year Price/Net Current Asset Value Range
Min: 3.15   Max: 543.75
Current: 6.7

3.15
543.75
Price/Tangible Book 4.30
THOR's Price/Tangible Book is ranked higher than
73% of the 411 Companies
in the Global Medical Devices industry.

( Industry Median: 6.18 vs. THOR: 4.30 )
THOR' s 10-Year Price/Tangible Book Range
Min: 2.33   Max: 310.71
Current: 4.3

2.33
310.71
Price/DCF (Projected) 1.20
THOR's Price/DCF (Projected) is ranked higher than
95% of the 411 Companies
in the Global Medical Devices industry.

( Industry Median: 9999.00 vs. THOR: 1.20 )
THOR' s 10-Year Price/DCF (Projected) Range
Min: 1.29   Max: 8.03
Current: 1.2

1.29
8.03
Price/Median PS Value 0.80
THOR's Price/Median PS Value is ranked higher than
89% of the 411 Companies
in the Global Medical Devices industry.

( Industry Median: 1.18 vs. THOR: 0.80 )
THOR' s 10-Year Price/Median PS Value Range
Min: 0.68   Max: 22.89
Current: 0.8

0.68
22.89
Price/Peter Lynch Fair Value 3.30
THOR's Price/Peter Lynch Fair Value is ranked higher than
93% of the 411 Companies
in the Global Medical Devices industry.

( Industry Median: 9999.00 vs. THOR: 3.30 )
THOR' s 10-Year Price/Peter Lynch Fair Value Range
Min: 0.96   Max: 37.62
Current: 3.3

0.96
37.62
Price/Graham Number 2.20
THOR's Price/Graham Number is ranked higher than
84% of the 411 Companies
in the Global Medical Devices industry.

( Industry Median: 8.75 vs. THOR: 2.20 )
THOR' s 10-Year Price/Graham Number Range
Min: 1.87   Max: 12.72
Current: 2.2

1.87
12.72
Earnings Yield (Greenblatt) 6.40
THOR's Earnings Yield (Greenblatt) is ranked higher than
83% of the 287 Companies
in the Global Medical Devices industry.

( Industry Median: 4.90 vs. THOR: 6.40 )
THOR' s 10-Year Earnings Yield (Greenblatt) Range
Min: 0.3   Max: 9.8
Current: 6.4

0.3
9.8
Forward Rate of Return (Yacktman) 11.22
THOR's Forward Rate of Return (Yacktman) is ranked higher than
88% of the 302 Companies
in the Global Medical Devices industry.

( Industry Median: 0.90 vs. THOR: 11.22 )
THOR' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -6.7   Max: 44.6
Current: 11.22

-6.7
44.6

Business Description

Industry: Medical Devices » Medical Devices
Compare:MDT, SYK, SMA, ZMH, STJ » details
Traded in other countries:TL1.Germany
Thoratec Corporation incorporated in the State of California in 1976 provides mechanical circulatory support with a product portfolio to treat the full range of clinical needs for advanced heart failure patients. It develops, manufactures and markets proprietary medical devices used for circulatory support. Following the sale of ITC in 2010, the Company has one operating segment: Cardiovascular group. This segment is organized and operates to develop and manufacture mechanical circulatory products to support the cardiovascular systems of humans. The Company's VAD products primarily serve patients suffering from late-stage HF. HF is a chronic disease that occurs when degeneration of the heart muscle reduces the pumping power of the heart, causing the heart to become too weak to pump blood at a level sufficient to meet the body's demands. Hospitals that perform open heart surgery and heart transplants are the potential customers for its Thoratec and HeartMate products. The Company estimates that it sells into 293 of these centers. According to the Company's estimates, it is in approximately 149 centers in the United States and 144 centers internationally. Competition from medical device companies and medical device divisions of healthcare companies, pharmaceutical companies and gene- and cell-based therapies is intense and is expected to increase. It therefore continues to expect new competitors both from the pharmacological and the medical device space. Among the medical device competitors are Terumo Heart, Inc., HeartWare International Inc., AbioMed, Inc., Jarvik Heart, Inc., MicroMed Technology, Inc., SynCardia Systems, Inc., CirculLite, Aachen Innovative Solutions GmbH, and WorldHeart Corporation in the U.S. and Europe and Berlin Heart GmbH in Europe. All of the Company's proposed products will require regulatory approval prior to commercialization. In particular, medical devices are subject to rigorous pre-clinical testing as a condition of approval by the FDA and by similar authorities in foreign countries.

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