LivaNova PLC $LIVN Stake Lessened by Bank of America Corp DE

Key Points

• Bank of America reduced its LivaNova stake by 30.6% in the first quarter, selling 235,233 shares and retaining 533,017 shares worth approximately $33.9 million. Institutional investors collectively own 97.64% of the company.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $83.50; Needham raised its target to $93, while Barclays and Robert W. Baird set targets of $76.
• LivaNova’s latest quarterly results exceeded expectations, with adjusted earnings of $1.26 per share versus the $1.09 estimate and revenue of $390.6 million, up 10.8% year over year. Shares opened at $82.22, near the company’s 52-week high of $85.76.

Bank of America Corp DE cut its holdings in shares of LivaNova PLC (NASDAQ:LIVN - Free Report) by 30.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 533,017 shares of the company's stock after selling 235,233 shares during the quarter. Bank of America Corp DE owned 0.97% of LivaNova worth $33,879,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of LIVN. Hantz Financial Services Inc. grew its stake in shares of LivaNova by 159.9% in the 4th quarter. Hantz Financial Services Inc. now owns 434 shares of the company's stock valued at $27,000 after buying an additional 267 shares in the last quarter. State of Wyoming bought a new position in LivaNova during the second quarter worth $31,000. Quarry LP acquired a new position in shares of LivaNova during the third quarter valued at about $36,000. EverSource Wealth Advisors LLC raised its holdings in LivaNova by 998.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 703 shares of the company's stock valued at $32,000 after acquiring an additional 639 shares in the last quarter. Finally, Covestor Ltd lifted its position in LivaNova by 108.6% in the fourth quarter. Covestor Ltd now owns 753 shares of the company's stock worth $46,000 after purchasing an additional 392 shares during the period. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LIVN has been the subject of a number of analyst reports. Barclays raised their price target on shares of LivaNova from $73.00 to $76.00 and gave the stock an "equal weight" rating in a research note on Thursday, May 7th. Stifel Nicolaus set a $85.00 price objective on shares of LivaNova in a research report on Wednesday, August 5th. Robert W. Baird dropped their target price on LivaNova from $78.00 to $76.00 and set an "outperform" rating for the company in a research report on Thursday, May 7th. Freedom Capital raised shares of LivaNova to a "hold" rating in a research note on Tuesday, June 30th. Finally, Needham & Company LLC raised their target price on LivaNova from $81.00 to $93.00 and gave the stock a "buy" rating in a report on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $83.50.

LivaNova Trading Up 0.0%

Shares of LivaNova stock opened at $82.22 on Friday. The company has a market capitalization of $4.53 billion, a price-to-earnings ratio of 24.33 and a beta of 0.86. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.45 and a quick ratio of 1.21. The business has a fifty day simple moving average of $80.36 and a two-hundred day simple moving average of $71.34. LivaNova PLC has a 1 year low of $48.82 and a 1 year high of $85.76.

LivaNova (NASDAQ:LIVN - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.17. The firm had revenue of $390.59 million for the quarter, compared to analysts' expectations of $380.50 million. LivaNova had a net margin of 12.82% and a return on equity of 16.35%. The business's revenue was up 10.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.05 EPS. Research analysts forecast that LivaNova PLC will post 3.77 EPS for the current year.

Insider Buying and Selling

In related news, Director Francesco Bianchi sold 1,800 shares of the firm's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $75.75, for a total transaction of $136,350.00. Following the transaction, the director directly owned 7,228 shares of the company's stock, valued at approximately $547,521. This trade represents a 19.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.35% of the company's stock.

About LivaNova

LivaNova plc is a global medical technology company that develops and manufactures products and therapies for the cardiac surgery and neuromodulation markets. Headquartered in London, United Kingdom, and Houston, Texas, LivaNova serves hospitals, clinics and healthcare providers in more than 100 countries. The company's primary focus lies in advancing patient care through innovations in heart–lung bypass, cardiac preservation, circulatory support and neurostimulation therapies.

The Cardiac Surgery business unit offers a comprehensive portfolio of products used in cardiopulmonary bypass procedures, including oxygenators, heart–lung machines, arterial filters, cannulae and sutureless heart valves.

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