“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.”,” the firm’s analyst wrote.
Other equities analysts have also issued research reports about the company. Piper Jaffray Companies reiterated a buy rating and issued a $85.00 target price on shares of LivaNova in a research note on Friday, November 3rd. Jefferies Group lifted their target price on LivaNova from $80.00 to $91.00 and gave the company a buy rating in a research note on Friday, November 3rd. Needham & Company LLC lifted their target price on LivaNova from $83.00 to $89.00 and gave the company a buy rating in a research note on Friday, November 3rd. ValuEngine upgraded LivaNova from a hold rating to a buy rating in a research note on Thursday, November 2nd. Finally, Berenberg Bank reiterated a buy rating and issued a $70.00 target price on shares of LivaNova in a research note on Friday, August 11th. One analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $79.71.
LivaNova (NASDAQ:LIVN) last posted its earnings results on Thursday, November 2nd. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.17. LivaNova had a return on equity of 9.33% and a net margin of 4.63%. The company had revenue of $309.70 million for the quarter, compared to analyst estimates of $301.22 million. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. research analysts forecast that LivaNova will post 3.33 earnings per share for the current year.
In other news, Director Hugh M. Morrison sold 1,830 shares of the business’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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Alfred J. Novak sold 2,000 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $85.77, for a total value of $171,540.00. The disclosure for this sale can be found here. Insiders have sold 6,830 shares of company stock worth $557,100 in the last 90 days. Insiders own 0.28% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Shelton Capital Management purchased a new stake in shares of LivaNova during the third quarter worth about $209,000. Pura Vida Investments LLC grew its stake in shares of LivaNova by 10.2% during the third quarter. Pura Vida Investments LLC now owns 154,273 shares of the company’s stock worth $10,808,000 after acquiring an additional 14,271 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of LivaNova by 2.5% during the third quarter. California Public Employees Retirement System now owns 149,307 shares of the company’s stock worth $10,460,000 after acquiring an additional 3,641 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of LivaNova by 248.7% during the third quarter. Janney Montgomery Scott LLC now owns 12,916 shares of the company’s stock worth $905,000 after acquiring an additional 9,212 shares during the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of LivaNova during the third quarter worth about $611,000. Institutional investors and hedge funds own 86.07% of the company’s stock.
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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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