Oct. 8, 2015, 5:52 PM
- St. Jude Medical (NYSE:STJ) closes on its acquisition of Thoratec (NASDAQ:THOR), a deal it struck this summer for $3.4B that will add key products to St. Jude's heart failure portfolio.
- All shares of Thoratec outstanding at the close today have been converted to the right to get $63.50 in cash, and the shares will be delisted from Nasdaq.
- St. Jude expects the deal to be accretive to EPS in 2016. Analyst consensus for 2016 earnings per share is $4.34 on $5.87B in revenues.
Oct. 7, 2015, 4:31 PM
Sep. 4, 2015, 10:01 AM
- Thoratec (THOR +0.1%) commences enrollment in its SHIELD II study comparing the safety and efficacy of its temporary ventricular assist device, HeartMate PHP, to Abiomed's (ABMD) Impella Recover LP 2.5. The trial will enroll up to 425 patients undergoing high risk percutaneous coronary intervention (PCI) across 60 sites. Subjects will be randomized to receive the HeartMate versus Impella at a 2:1 ratio. The primary endpoint is non-inferiority (no worse than) based on a composite of adverse events at 90 days of follow-up. The estimated study completion date is December 2016.
- HeartMate PHP is an acute cardiac assist device that has expandable catheter technology capable of generating average blood flow of up to five liters per minute through a true percutaneous insertion, which is the normal amount of blood pumped out by the left ventricle based on a heart rate of 72 beats/minute.
- The maximum flow rate of the Impella 2.5 is 2.5 liters/minute.
Aug. 4, 2015, 4:20 PM
- Thoratec (NASDAQ:THOR): Q2 EPS of $0.37 beats by $0.09.
- Revenue of $128.69M (+9.0% Y/Y) beats by $10.69M.
Jul. 22, 2015, 9:16 AM
Jul. 22, 2015, 7:57 AM
- St. Jude Medical (NYSE:STJ) acquires Thoratec (NASDAQ:THOR) for $63.50 per share ($3.4B). The price represents a 10% premium over yesterday's close of $57.58. The deal should be accretive to STJ's revenue and earnings growth in 2016. The transaction is expected to close in Q4.
- The agreement includes a 30-day go-shop period during which THOR can solicit other offers.
Jul. 21, 2015, 12:45 PM
Jul. 21, 2015, 12:41 PM
May 7, 2015, 4:48 PM
- Thoratec (NASDAQ:THOR): Q1 EPS of $0.38 beats by $0.12.
- Revenue of $121.3M (-3.5% Y/Y) beats by $10.16M.
- Shares +0.12%.
Feb. 11, 2015, 9:55 AM
- Thoratec (THOR +9.4%) Q4 results: Revenues: $128M (-0.2%); COGS: $44.5M (-4.3%); R&D Expense: $33M (+26.9%); SG&A: $34.8M (-5.7%); Operating Income: $15.8M (-16.0%); Net Income: $11.8M (-9.9%); EPS: $0.21 (-8.7%).
- FY2014 results: Revenues: $477.6M (-5.0%); COGS: $161.4M (-1.3%); R&D Expense: $105.5M (+8.3%); SG&A: $140.7M (-2.5%); Operating Income: $69.9M (-28.3%); Net Income: $50.4M (-31.2%); EPS: $0.89 (-29.4%); Quick Assets: $230.5M (-24.6%).
- 2014 Guidance: Revenues: $450M - 460M; GAAP EPS: $0.60 - 0.70; non-GAAP EPS: $1.10 - 1.20.
Feb. 10, 2015, 4:14 PM
- Thoratec (NASDAQ:THOR): Q4 EPS of $0.39 beats by $0.15.
- Revenue of $127.96M (-0.2% Y/Y) beats by $20.97M.
- Shares -1%.
Feb. 9, 2015, 5:35 PM
Nov. 5, 2014, 4:52 PM
- Thoratec (NASDAQ:THOR): Q3 EPS of $0.18 misses by $0.04.
- Revenue of $105.84M (-16.3% Y/Y) misses by $0.48M.
Aug. 7, 2014, 12:47 PM
Aug. 7, 2014, 9:21 AM
Aug. 7, 2014, 8:15 AM