Should You Avoid Thoratec Corporation (NASDAQ:THOR)?

Thoratec Corporation (NASDAQ:THOR) has experienced a decrease in support from the world’s most elite money managers in recent months.

Thoratec Corporation (NASDAQ:THOR)

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Now, let’s take a glance at the key action encompassing Thoratec Corporation (NASDAQ:THOR).

What does the smart money think about Thoratec Corporation (NASDAQ:THOR)?

Heading into 2013, a total of 18 of the hedge funds we track held long positions in this stock, a change of -5% from the previous quarter. With hedge funds’ capital changing hands, there exists an “upper tier” of key hedge fund managers who were increasing their holdings meaningfully.

According to our comprehensive database, Eric Bannasch’s Cadian Capital had the largest position in Thoratec Corporation (NASDAQ:THOR), worth close to $193 million, accounting for 6.3% of its total 13F portfolio. On Cadian Capital’s heels is Jim Simons of Renaissance Technologies, with a $43 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Remaining hedgies with similar optimism include Chuck Royce’s Royce & Associates, Ken Griffin’s Citadel Investment Group and Cliff Asness’s AQR Capital Management.

Since Thoratec Corporation (NASDAQ:THOR) has experienced declining sentiment from hedge fund managers, logic holds that there exists a select few hedge funds that elected to cut their full holdings heading into 2013. It’s worth mentioning that Scott Burney’s Bluefin Investment Management sold off the biggest position of the “upper crust” of funds we monitor, totaling an estimated $10 million in stock., and Jacob Gottlieb of Visium Asset Management was right behind this move, as the fund dropped about $7 million worth. These moves are important to note, as total hedge fund interest dropped by 1 funds heading into 2013.

What do corporate executives and insiders think about Thoratec Corporation (NASDAQ:THOR)?

Insider trading activity, especially when it’s bullish, is best served when the company in focus has seen transactions within the past half-year. Over the last 180-day time frame, Thoratec Corporation (NASDAQ:THOR) has seen zero unique insiders buying, and 5 insider sales (see the details of insider trades here).

With the results demonstrated by Insider Monkey’s time-tested strategies, retail investors should always monitor hedge fund and insider trading sentiment, and Thoratec Corporation (NASDAQ:THOR) shareholders fit into this picture quite nicely.

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