Medtech Insight is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By



This article was originally published in The Gray Sheet

Executive Summary

Cardiac assist device maker's board of directors authorizes share repurchase program under which up to $20 mil. in Thoratec common stock may be purchased in open-market or private transactions, company announces April 12. "We believe that our stock is currently undervalued in view of our products already on the market...and the very large nature of our potential markets," CEO Keith Grossman explains in an April 12 release. The firm's stock price dropped almost 40%, from 20.56 to 12, in the two days following an October 2000 announcement of plans to acquire Thermo Cardiosystems ("The Gray Sheet" Oct. 9, 2000, p. 13). The share price has not reached the $20 level since then, and the stock is currently trading at 7.95, close to a 52-week low of 6.37. "Given our cash position of $130 mil. following our merger with Thermo Cardiosystems...we believe we have the resources and financial flexibility to use this process to enhance shareholder value," Grossman adds.



Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts