Thoratec To Buy Back $20M In Stock

Pleasanton, CA-based Thoratec announced that it would purchase close to $20 million in common stock under a new stock repurchase program authorized by its board of directors, according to East Bay Business Times. The maker of heart pumps said it would repurchase the remaining $5 million of a previously approved $25 million stock buyback program before it begins buying back additional stock under the new program. Thoratec CEO Gary Burbach said in a statement that the company remains “optimistic” about Thoratec’s outlook and that the stock buyback will allow it to “enhance shareholder value” by managing dilution at attractive share prices.