LivaNova (NASDAQ:LIVN) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded LivaNova from “strong buy” to “buy.” Overall analyst sentiment remains positive, with a “Moderate Buy” consensus and an average price target of $99.56.
• LivaNova beat quarterly expectations, reporting earnings per share of $1.23 versus $1.06 forecast and revenue of $393.15 million versus $381.13 million expected. Revenue increased 9.9% year over year.
• Company insiders sold 7,450 shares worth about $592,000 over the last quarter; insiders own 0.35% of the company.

LivaNova (NASDAQ:LIVN - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "buy" rating in a research report issued on Saturday, Wall Street Zen reports.

A number of other research analysts also recently issued reports on LIVN. Piper Sandler reiterated an "overweight" rating and issued a $90.00 price target (up from $87.00) on shares of LivaNova in a report on Wednesday, September 2nd. Weiss Ratings raised shares of LivaNova from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, October 27th. Robert W. Baird raised their price target on shares of LivaNova from $95.00 to $111.00 and gave the stock an "outperform" rating in a research report on Thursday. Zacks Research downgraded shares of LivaNova from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 19th. Finally, Stifel Nicolaus set a $85.00 price objective on LivaNova in a research report on Wednesday, August 5th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $99.56.

LivaNova Price Performance

Shares of NASDAQ LIVN opened at $89.99 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.21 and a debt-to-equity ratio of 0.22. The firm's 50-day moving average price is $79.27 and its 200-day moving average price is $73.54. LivaNova has a 1-year low of $49.73 and a 1-year high of $99.38. The firm has a market capitalization of $4.96 billion, a P/E ratio of 22.34 and a beta of 0.91.

LivaNova (NASDAQ:LIVN - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.17. The company had revenue of $393.15 million during the quarter, compared to analysts' expectations of $381.13 million. LivaNova had a return on equity of 16.35% and a net margin of 12.82%. The firm's quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.11 earnings per share. Equities research analysts anticipate that LivaNova will post 3.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other LivaNova news, Director Francesco Bianchi sold 3,500 shares of the stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $78.01, for a total transaction of $273,035.00. Following the sale, the director owned 4,434 shares of the company's stock, valued at approximately $345,896.34. This trade represents a 44.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Brooke Story sold 2,300 shares of the firm's stock in a transaction on Friday, September 4th. The stock was sold at an average price of $81.42, for a total value of $187,266.00. Following the completion of the transaction, the director owned 7,488 shares of the company's stock, valued at $609,672.96. This trade represents a 23.50% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 7,450 shares of company stock valued at $591,839. Company insiders own 0.35% of the company's stock.

Hedge Funds Weigh In On LivaNova

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its holdings in LivaNova by 1.0% during the third quarter. Russell Investments Group Ltd. now owns 81,701 shares of the company's stock worth $6,250,000 after acquiring an additional 847 shares during the period. AlphaCore Capital LLC bought a new stake in shares of LivaNova in the 3rd quarter valued at approximately $308,000. Hohimer Wealth Management LLC grew its holdings in LivaNova by 5.4% during the 3rd quarter. Hohimer Wealth Management LLC now owns 4,277 shares of the company's stock worth $327,000 after acquiring an additional 219 shares during the last quarter. Alamar Capital Management LLC bought a new position in shares of LivaNova in the 3rd quarter worth $1,814,000. Finally, Covestor Ltd raised its holdings in LivaNova by 135.1% during the 3rd quarter. Covestor Ltd now owns 1,300 shares of the company's stock worth $99,000 after buying an additional 747 shares during the period. Institutional investors and hedge funds own 97.64% of the company's stock.

About LivaNova

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.

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