Clearline Capital LP Takes $7.08 Million Position in LivaNova PLC $LIVN

Key Points

• Clearline Capital LP has acquired a new position in LivaNova PLC, purchasing 180,137 shares valued at approximately $7.08 million.
• Institutional investors now own 97.64% of LivaNova's stock, with multiple hedge funds increasing their holdings significantly in the 1st quarter.
• Analysts maintain a generally positive outlook on LivaNova, with a consensus rating of "Buy" and a target price of $59.71.

Clearline Capital LP purchased a new stake in LivaNova PLC (NASDAQ:LIVN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 180,137 shares of the company's stock, valued at approximately $7,076,000. Clearline Capital LP owned 0.33% of LivaNova as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in LivaNova by 13.5% during the 1st quarter. Vanguard Group Inc. now owns 2,666,880 shares of the company's stock worth $104,755,000 after buying an additional 316,993 shares during the period. AQR Capital Management LLC grew 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 valued at $60,809,000 after acquiring an additional 829,115 shares in the last quarter. Redmile Group LLC grew 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 valued at $48,326,000 after acquiring an additional 168,500 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its holdings in LivaNova by 100.7% during the first 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 during the period. Finally, Nuveen Asset Management LLC grew its holdings in LivaNova by 0.6% during the fourth 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 during the period. Institutional investors and hedge funds own 97.64% of the company's stock.

LivaNova Stock Performance

Shares of LivaNova stock traded down $1.12 during mid-day trading on Friday, hitting $56.22. 571,326 shares of the stock were exchanged, compared to its average volume of 697,968. LivaNova PLC has a 12 month low of $32.48 and a 12 month high of $58.91. The company has a 50-day simple moving average of $49.63 and a 200 day simple moving average of $43.95. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.09 and a current ratio of 1.29. The company has a market capitalization of $3.07 billion, a P/E ratio of -14.45 and a beta of 0.97.

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

Analyst Ratings Changes

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

About LivaNova

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.