LivaNova PLC (LIVN) Lifted to Buy at Needham & Company LLC
LivaNova PLC (NASDAQ:LIVN) was upgraded by research analysts at Needham & Company LLC from a “hold” rating to a “buy” rating in a note issued to investors on Thursday, MarketBeat reports. The brokerage currently has a $83.00 price target on the stock. Needham & Company LLC’s price objective suggests a potential upside of 21.31% from the company’s current price.
The analysts wrote, “LIVN announced that it is exploring strategic options for its low growth and low margin CRM business. This shouldn’t come as a huge surprise since management had previously hinted a potential sale of the CRM business. We think a CRM sale would increase LIVN’s revenue growth; the EPS impact hinges on price, CRM margins, and use of proceeds. We think a sale would be neutral to slightly dilutive if the proceeds were used for share repurchases and/or debt repayment though we note that there would likely be near-term hit to EPS between when the sale is announced and when LIVN is able to deploy the proceeds to offset any dilution.””
Several other research firms also recently weighed in on LIVN. WBB Securities downgraded LivaNova PLC from a “hold” rating to a “sell” rating and set a $50.00 target price for the company. in a report on Tuesday, August 15th. BidaskClub downgraded LivaNova PLC from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Piper Jaffray Companies reissued an “overweight” rating and issued a $75.00 target price on shares of LivaNova PLC in a report on Tuesday. Jefferies Group LLC initiated coverage on LivaNova PLC in a report on Friday, September 8th. They issued a “buy” rating and a $76.00 target price for the company. Finally, Berenberg Bank reissued a “buy” rating and issued a $70.00 target price on shares of LivaNova PLC in a report on Friday, August 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $68.67.
LivaNova PLC (NASDAQ LIVN) traded up 0.51% during midday trading on Thursday, reaching $68.42. The company’s stock had a trading volume of 944,452 shares. LivaNova PLC has a 1-year low of $40.83 and a 1-year high of $69.29. The stock’s 50-day moving average price is $62.55 and its 200 day moving average price is $57.59. The firm has a market capitalization of $3.34 billion, a PE ratio of 122.18 and a beta of 0.58.
LivaNova PLC (NASDAQ:LIVN) last posted its earnings results on Wednesday, August 9th. The company reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.19. LivaNova PLC had a return on equity of 9.08% and a net margin of 2.26%. The business had revenue of $321.40 million during the quarter, compared to the consensus estimate of $315.75 million. LivaNova PLC’s revenue was up .1% compared to the same quarter last year. Equities analysts anticipate that LivaNova PLC will post $3.24 EPS for the current fiscal year.
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In other LivaNova PLC news, Director Daniel Jeffrey Moore sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $60.76, for a total transaction of $60,760.00. Following the completion of the sale, the director now directly owns 58,296 shares of the company’s stock, valued at approximately $3,542,064.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.28% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of LIVN. Capstone Asset Management Co. purchased a new stake in LivaNova PLC during the 1st quarter valued at approximately $233,000. Louisiana State Employees Retirement System raised its stake in LivaNova PLC by 0.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 10,900 shares of the company’s stock valued at $534,000 after acquiring an additional 100 shares during the last quarter. Glen Harbor Capital Management LLC raised its stake in LivaNova PLC by 11.4% during the 1st quarter. Glen Harbor Capital Management LLC now owns 2,992 shares of the company’s stock valued at $147,000 after acquiring an additional 306 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in LivaNova PLC by 1.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 15,360 shares of the company’s stock valued at $753,000 after acquiring an additional 200 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in LivaNova PLC by 232.5% during the 1st quarter. American Century Companies Inc. now owns 49,869 shares of the company’s stock valued at $2,444,000 after acquiring an additional 34,872 shares during the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.
LivaNova PLC Company Profile
LivaNova PLC is a medical device company focused on the development and delivery of therapeutic solutions. The Company’s segments include Cardiac Surgery, Cardiac Rhythm Management, Neuromodulation and Other. The Cardiac Surgery segment is engaged in the development, production and sale of cardiovascular surgery products.
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