Needham & Company LLC reaffirmed their buy rating on shares of LivaNova (NASDAQ:LIVN) in a report published on Thursday, May 31st, MarketBeat.com reports. The brokerage currently has a $106.00 price objective on the stock, up from their previous price objective of $102.00.
“Wednesday (5/30/18) evening, the Services (CMS) announced that it opened a national coverage analysis (NCA) for vagal nerve stimulation (VNS) for treatment-resistant depression (TRD). LIVN offers the only implantable VNS devices in the US; while its VNS devices are FDA approved for both drug-resistant epilepsy and treatment-resistant depression, CMS currently only covers VNS for drug-resistant epilepsy. We think the most likely outcome of the NCA is the CMS provides coverage with evidence development which would make VNS available to patients enrolled in a registry. LIVN estimates the potential TRD market is ~10x that of drug-resistant epilepsy. We conservatively estimate this opportunity could be worth ~$9 per LIVN share and reiterate our Buy rating.”,” Needham & Company LLC’s analyst wrote.
Other equities analysts have also issued reports about the stock. ValuEngine lowered shares of LivaNova from a strong-buy rating to a buy rating in a research note on Thursday, May 17th. BidaskClub upgraded shares of LivaNova from a hold rating to a buy rating in a research note on Wednesday, February 21st. Canaccord Genuity increased their price target on shares of LivaNova from $76.00 to $81.00 and gave the company a hold rating in a research note on Tuesday, February 27th. Zacks Investment Research upgraded shares of LivaNova from a sell rating to a hold rating in a research report on Tuesday, March 27th. Finally, BTIG Research restated a hold rating on shares of LivaNova in a research report on Thursday, May 3rd. Two analysts have rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $85.88.
Shares of NASDAQ:LIVN opened at $104.96 on Thursday. The company has a market capitalization of $4.83 billion, a P/E ratio of 31.71, a PEG ratio of 2.94 and a beta of 0.76. LivaNova has a fifty-two week low of $59.12 and a fifty-two week high of $105.70. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.51 and a current ratio of 1.85.
LivaNova (NASDAQ:LIVN) last issued its earnings results on Wednesday, May 2nd. The company reported $0.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.03. The firm had revenue of $250.40 million for the quarter, compared to analysts’ expectations of $245.18 million. LivaNova had a negative net margin of 1.99% and a positive return on equity of 9.23%. The firm’s revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.67 earnings per share. analysts predict that LivaNova will post 3.2 earnings per share for the current fiscal year.
In other LivaNova news, insider David S. Wise sold 1,500 shares of the firm’s stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $84.48, for a total value of $126,720.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alfred J. Novak sold 1,000 shares of the firm’s stock in a transaction on Wednesday, May 9th. The shares were sold at an average price of $84.02, for a total value of $84,020.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 24,572 shares of company stock valued at $2,281,498. Corporate insiders own 0.41% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Allianz Asset Management GmbH lifted its holdings in LivaNova by 534.7% in the first quarter. Allianz Asset Management GmbH now owns 105,654 shares of the company’s stock valued at $9,351,000 after acquiring an additional 89,009 shares during the period. Principal Financial Group Inc. lifted its holdings in LivaNova by 3.0% in the first quarter. Principal Financial Group Inc. now owns 191,925 shares of the company’s stock valued at $16,985,000 after acquiring an additional 5,532 shares during the period. Royal Bank of Canada raised its stake in shares of LivaNova by 1,050.6% during the 1st quarter. Royal Bank of Canada now owns 7,168 shares of the company’s stock worth $634,000 after buying an additional 6,545 shares during the last quarter. Legal & General Group Plc raised its stake in shares of LivaNova by 13.6% during the 1st quarter. Legal & General Group Plc now owns 46,111 shares of the company’s stock worth $4,081,000 after buying an additional 5,537 shares during the last quarter. Finally, Highbridge Capital Management LLC acquired a new position in shares of LivaNova during the 1st quarter worth $720,000. 84.69% of the stock is owned by institutional investors.
LivaNova PLC, a medical device company, designs, develops, manufactures, and sells therapeutic solutions worldwide. The company operates in two segments, Cardiac Surgery and Neuromodulation. The Cardiac Surgery segment develops, produces, and sells cardiopulmonary products, including oxygenators, heart-lung machines, perfusion tubing systems, cannulae and accessories for extracorporeal circulation, and systems for autotransfusion and autologous blood washing, as well as surgical tissue and mechanical heart valve replacements, and repair products for damaged or diseased heart valves.
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