Thoratec To Buy Back Up To $200 Mln Of Stock - Quick Facts

(RTTNews) - Thoratec Corp. (THOR) announced Monday that its board has authorized the repurchase of up to $200 million of the company's shares of common stock effective through the end of 2015. The company's previous share repurchase authorization will expire at the end of 2013.

During the first nine months of 2013, Thoratec generated $86 million of cash flow from operating activities. As of September 30, 2013, the company had over $280 million in cash, cash equivalents and investments.

The share buyback program is effective immediately, and it may be modified, suspended, terminated or extended by the company at any time without prior notice, the company said.