LivaNova (NASDAQ:LIVN)‘s stock had its “hold” rating restated by stock analysts at Canaccord Genuity in a research report issued on Tuesday. They currently have a $76.00 price target on the stock. Canaccord Genuity’s target price would suggest a potential downside of 9.13% from the stock’s current price.
The analysts wrote, “We remain HOLD-rated on shares of LIVN in the wake of their announcement that the company would purchase the remaining part of ImThera – an early-stage company focused on neuromodulation to treat obstructive sleep apnea – that it does not already own. While the technology fits synergistically within LIVN’s strong neuromodulation franchise to some degree, the call point will be different than its current offering (ENTs vs. neurosurgeons). The firm thinks it can leverage its growing OUS neuromodulation sales presence to drive some near-term ImThera revenue (expectations not disclosed) in Europe; however, we expect contributions will be minimal for the next few years at least, primarily on the basis of current reimbursement coverage, or lack thereof, and need for long-term data to catalyze ENT surgeons to adopt the therapy, according to our due diligence.””
LIVN has been the topic of several other research reports. Berenberg Bank reissued a “buy” rating and issued a $70.00 price target on shares of LivaNova in a report on Friday, August 11th. Needham & Company LLC upped their target price on shares of LivaNova to $93.00 and gave the stock a “buy” rating in a report on Tuesday, November 21st. Jefferies Group upped their target price on shares of LivaNova from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, September 15th. BTIG Research reaffirmed a “hold” rating on shares of LivaNova in a report on Tuesday, November 7th. Finally, Zacks Investment Research raised shares of LivaNova from a “hold” rating to a “buy” rating and set a $89.00 target price on the stock in a report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $79.71.
LivaNova (NASDAQ:LIVN) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.93 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.17. The firm had revenue of $309.70 million for the quarter, compared to analyst estimates of $301.22 million. LivaNova had a net margin of 4.63% and a return on equity of 9.33%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 EPS. sell-side analysts forecast that LivaNova will post 3.33 EPS for the current year.
In other news, Director Daniel Jeffrey Moore sold 1,000 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $74.58, for a total value of $74,580.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Hugh M. Morrison sold 1,830 shares of the company’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $88.00, for a total transaction of $161,040.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,830 shares of company stock worth $557,100. 0.28% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of LIVN. BlackRock Inc. lifted its position in LivaNova by 79.3% during the 2nd quarter. BlackRock Inc. now owns 4,648,780 shares of the company’s stock worth $284,552,000 after buying an additional 2,055,891 shares in the last quarter. Koch Industries Inc. acquired a new position in LivaNova during the 2nd quarter worth about $1,384,000. State Street Corp lifted its position in LivaNova by 74.8% during the 2nd quarter. State Street Corp now owns 1,835,428 shares of the company’s stock worth $112,345,000 after buying an additional 785,268 shares in the last quarter. HealthCor Management L.P. acquired a new position in LivaNova during the 2nd quarter worth about $24,484,000. Finally, Dimensional Fund Advisors LP lifted its position in LivaNova by 42.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,317,901 shares of the company’s stock worth $92,331,000 after buying an additional 395,672 shares in the last quarter. Institutional investors and hedge funds own 86.07% of the company’s stock.
LivaNova 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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