LivaNova (LIVN) Stock Rating Reaffirmed by Canaccord Genuity
LivaNova (NASDAQ:LIVN)‘s stock had its “hold” rating reaffirmed by stock analysts at Canaccord Genuity in a note issued to investors on Tuesday. They presently have a $76.00 price target on the stock. Canaccord Genuity’s price objective would indicate a potential downside of 9.23% from the company’s previous close.
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.””
Several other equities research analysts have also issued reports on LIVN. Jefferies Group started coverage on shares of LivaNova in a report on Friday, September 8th. They set a “buy” rating and a $76.00 price target on the stock. Needham & Company LLC raised shares of LivaNova from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a report on Friday, September 15th. ValuEngine raised shares of LivaNova from a “hold” rating to a “buy” rating in a report on Thursday, November 2nd. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $75.00 price target on shares of LivaNova in a report on Tuesday, September 12th. Finally, WBB Securities lowered shares of LivaNova from a “hold” rating to a “sell” rating and set a $50.00 price target on the stock. in a report on Tuesday, August 15th. 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 company. The stock currently has a consensus rating of “Buy” and an average target price of $79.71.
LivaNova (NASDAQ:LIVN) last released its earnings results on Thursday, November 2nd. The company reported $0.93 EPS for the quarter, beating the consensus estimate of $0.76 by $0.17. LivaNova had a net margin of 4.63% and a return on equity of 9.33%. The firm had revenue of $309.70 million for the quarter, compared to analyst estimates of $301.22 million. During the same period last year, the firm earned $0.78 EPS. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. equities research analysts predict that LivaNova will post 3.33 earnings per share for the current year.
In related news, Director Alfred J. Novak sold 2,000 shares of LivaNova stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $85.77, for a total transaction of $171,540.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Daniel Jeffrey Moore sold 1,000 shares of LivaNova stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $74.58, for a total transaction of $74,580.00. The disclosure for this sale can be found here. Insiders have sold a total of 6,830 shares of company stock worth $557,100 over the last ninety days. 0.28% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its holdings in LivaNova by 9.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,707 shares of the company’s stock worth $105,000 after acquiring an additional 153 shares during the last quarter. Riverhead Capital Management LLC grew its holdings in LivaNova by 76.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,763 shares of the company’s stock worth $108,000 after acquiring an additional 763 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in LivaNova during the 2nd quarter worth approximately $204,000. Shelton Capital Management bought a new stake in LivaNova during the 3rd quarter worth approximately $209,000. Finally, Bessemer Group Inc. bought a new stake in LivaNova during the 2nd quarter worth approximately $220,000. 86.07% of the stock is currently owned by hedge funds and other institutional investors.
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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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