LivaNova (NASDAQ:LIVN) Sets New 1-Year High After Earnings Beat

LivaNova PLC (NASDAQ:LIVN) shares reached a new 52-week high during trading on Wednesday following a stronger than expected earnings report. The stock traded as high as $90.00 and last traded at $90.6750, with a volume of 14,495 shares. The stock had previously closed at $79.90.

The company reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.17. The business had revenue of $393.10 million during the quarter, compared to analyst estimates of $381.13 million. LivaNova had a return on equity of 16.35% and a net margin of 12.82%. The company’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.11 EPS.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LIVN. Weiss Ratings raised shares of LivaNova from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, October 27th. Stifel Nicolaus set a $85.00 price target on LivaNova in a research note on Wednesday, August 5th. Needham & Company LLC increased their target price on LivaNova from $81.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Piper Sandler reaffirmed an “overweight” rating and set a $90.00 price objective (up from $87.00) on shares of LivaNova in a research note on Wednesday, September 2nd. Finally, Mizuho upped their target price on LivaNova from $90.00 to $95.00 and gave the company an “outperform” rating in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $87.75.

Insiders Place Their Bets

In other news, Director Brooke Story sold 2,300 shares of LivaNova stock in a transaction dated Friday, September 4th. The shares were sold at an average price of $81.42, for a total transaction of $187,266.00. Following the sale, the director directly owned 7,488 shares in the company, valued at approximately $609,672.96. The trade was a 23.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Francesco Bianchi sold 3,500 shares of the business’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $78.01, for a total transaction of $273,035.00. Following the completion of the sale, the director owned 4,434 shares in the company, valued at $345,896.34. This represents a 44.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 7,450 shares of company stock valued at $591,839. Insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On LivaNova

Several institutional investors and hedge funds have recently made changes to their positions in LIVN. Hohimer Wealth Management LLC boosted its holdings in shares of LivaNova by 5.4% in the 3rd quarter. Hohimer Wealth Management LLC now owns 4,277 shares of the company’s stock valued at $327,000 after buying an additional 219 shares during the last quarter. Alamar Capital Management LLC acquired a new stake in shares of LivaNova in the 3rd quarter valued at about $1,814,000. Covestor Ltd increased its stake in LivaNova by 135.1% in the 3rd quarter. Covestor Ltd now owns 1,300 shares of the company’s stock valued at $99,000 after buying an additional 747 shares during the last quarter. Vise Technologies Inc. grew its holdings in LivaNova by 40.3% during the third quarter. Vise Technologies Inc. now owns 3,915 shares of the company’s stock valued at $299,000 after purchasing an additional 1,124 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al raised its holdings in shares of LivaNova by 6.9% during the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 52,691 shares of the company’s stock valued at $4,031,000 after buying an additional 3,400 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company’s stock.

LivaNova Stock Up 18.0%

The company has a 50 day moving average of $78.56 and a 200-day moving average of $73.10. The company has a market capitalization of $5.20 billion, a P/E ratio of 27.99 and a beta of 0.91. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.45 and a quick ratio of 1.21.

LivaNova Company Profile

LivaNova PLC (NASDAQ: LIVN) is a medical technology company that develops and manufactures devices and therapies for patients with neurological and cardiovascular conditions. Its products are used by hospitals, physicians and other healthcare providers in markets around the world.

The company’s Neuromodulation business is best known for VNS Therapy, which uses an implanted device to deliver electrical stimulation to the vagus nerve. The therapy is used primarily for drug-resistant epilepsy and treatment-resistant depression, subject to applicable regulatory approvals.