Clearline Capital LP Makes New Investment 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 position in shares of LivaNova PLC (NASDAQ:LIVN - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund 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 filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the business. AQR Capital Management LLC lifted its holdings in LivaNova by 111.7% in the first quarter. AQR Capital Management LLC now owns 1,571,295 shares of the company's stock valued at $60,809,000 after buying an additional 829,115 shares during the period. Nuveen LLC acquired a new position in LivaNova in the first quarter valued at $30,954,000. Hotchkis & Wiley Capital Management LLC lifted its holdings in LivaNova by 100.7% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,003,000 shares of the company's stock valued at $39,398,000 after buying an additional 503,350 shares during the period. LSV Asset Management lifted its holdings in LivaNova by 278.3% in the first quarter. LSV Asset Management now owns 438,498 shares of the company's stock valued at $17,224,000 after buying an additional 322,598 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in LivaNova by 13.5% in the first quarter. Vanguard Group Inc. now owns 2,666,880 shares of the company's stock valued at $104,755,000 after buying an additional 316,993 shares during the period. Institutional investors and hedge funds own 97.64% of the company's stock.

LivaNova Stock Down 2.0%

LIVN traded down $1.12 during midday trading on Friday, hitting $56.22. The company had a trading volume of 571,347 shares, compared to its average volume of 563,145. The company has a quick ratio of 1.09, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The stock's 50 day moving average price is $49.83 and its 200 day moving average price is $44.05. The company 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 52 week low of $32.48 and a 52 week high of $58.91.

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

Analyst Ratings Changes

Several research firms recently issued reports on LIVN. Barclays boosted their target price on shares of LivaNova from $55.00 to $58.00 and gave the company an "equal weight" rating in a report on Thursday, August 21st. Wolfe Research upgraded shares of LivaNova from a "peer perform" rating to an "outperform" rating and set a $60.00 target price on the stock in a report on Tuesday, May 20th. Wall Street Zen raised shares of LivaNova from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $64.00 price target 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's stock. Based on data from MarketBeat.com, the stock 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.