Aristeia Capital L.L.C. Sells 9,800 Shares of LivaNova PLC $LIVN

Key Points

• Aristeia Capital L.L.C. has reduced its stake in LivaNova PLC by 13.4%, selling 9,800 shares, and now owns approximately 0.12% of the company valued at $2,494,000.
• LivaNova's quarterly earnings report showed an earnings per share (EPS) of $1.05, surpassing estimates, with revenue increasing by 10.6% year-over-year to $352.50 million.
• The company's stock received several positive analyst upgrades, with Barclays raising its price target from $55 to $58 and a consensus target price now set at $59.71.

Aristeia Capital L.L.C. trimmed its stake in shares of LivaNova PLC (NASDAQ:LIVN - Free Report) by 13.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,500 shares of the company's stock after selling 9,800 shares during the quarter. Aristeia Capital L.L.C. owned about 0.12% of LivaNova worth $2,494,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LIVN. Vanguard Group Inc. raised its holdings in shares of LivaNova by 13.5% in the 1st quarter. Vanguard Group Inc. now owns 2,666,880 shares of the company's stock worth $104,755,000 after purchasing an additional 316,993 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of LivaNova by 111.7% in the 1st quarter. AQR Capital Management LLC now owns 1,571,295 shares of the company's stock worth $60,809,000 after purchasing an additional 829,115 shares in the last quarter. Redmile Group LLC raised its holdings in shares of LivaNova by 19.3% in the 4th quarter. Redmile Group LLC now owns 1,043,539 shares of the company's stock worth $48,326,000 after purchasing an additional 168,500 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of LivaNova by 100.7% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 1,003,000 shares of the company's stock worth $39,398,000 after purchasing an additional 503,350 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of LivaNova by 0.6% in the 4th quarter. Nuveen Asset Management LLC now owns 823,412 shares of the company's stock worth $38,132,000 after purchasing an additional 5,080 shares in the last quarter. 97.64% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LIVN has been the topic of several analyst reports. Wall Street Zen raised shares of LivaNova from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Barclays lifted their target price on shares of LivaNova from $55.00 to $58.00 and gave the stock an "equal weight" rating in a research report on Thursday, August 21st. Wolfe Research raised shares of LivaNova from a "peer perform" rating to an "outperform" rating and set a $60.00 target price on the stock in a research report on Tuesday, May 20th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $64.00 target price on shares of LivaNova in a research report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $59.71.

LivaNova Stock Performance

NASDAQ:LIVN traded down $1.12 during trading hours on Friday, hitting $56.22. 571,347 shares of the company traded hands, compared to its average volume of 563,145. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of -14.45 and a beta of 0.97. LivaNova PLC has a twelve month low of $32.48 and a twelve month high of $58.91. The firm has a 50-day moving average of $49.83 and a 200 day moving average of $44.05. The company has a current ratio of 1.29, a quick ratio of 1.09 and a debt-to-equity ratio of 0.31.

LivaNova (NASDAQ:LIVN - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $0.84 by $0.21. The firm had revenue of $352.50 million during the quarter, compared to analysts' expectations of $332.20 million. LivaNova had a negative net margin of 16.13% and a positive return on equity of 14.57%. The business's quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.93 EPS. On average, analysts forecast that LivaNova PLC will post 2.85 EPS for the current year.

LivaNova Profile

LivaNova PLC, a medical device company, designs, develops, manufactures, and sells therapeutic solutions worldwide. The company operates through Cardiopulmonary, Neuromodulation, and Advanced Circulatory Support segments. The Cardiopulmonary segment develops, produces, and sells cardiopulmonary products, including oxygenators, heart-lung machines, autotransfusion systems, perfusion tubing systems, cannulae, connect, and other related products.