Martingale Asset Management L P Boosts Holdings in LivaNova PLC $LIVN

Key Points

• Martingale Asset Management increased its holdings in LivaNova PLC by 207.7%, acquiring an additional 51,022 shares, bringing their total to 75,583 shares valued at approximately $2.97 million.
• LivaNova's stock has received upgrades from multiple analysts, with Barclays raising its price target from $55 to $58, and Needham & Company setting a new target of $64, contributing to a consensus rating of "Buy."
• The company reported positive earnings of $1.05 per share for the last quarter, surpassing estimates and indicating a year-over-year revenue increase of 10.6% to $352.5 million.

Martingale Asset Management L P increased its stake in shares of LivaNova PLC (NASDAQ:LIVN - Free Report) by 207.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,583 shares of the company's stock after acquiring an additional 51,022 shares during the period. Martingale Asset Management L P owned about 0.14% of LivaNova worth $2,969,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new position in shares of LivaNova during the 1st quarter worth $30,954,000. Freestone Grove Partners LP acquired a new position in LivaNova during the 4th quarter valued at approximately $23,102,000. The Manufacturers Life Insurance Company raised its stake in shares of LivaNova by 163.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 546,387 shares of the company's stock worth $25,303,000 after buying an additional 339,139 shares in the last quarter. AQR Capital Management LLC raised its position in LivaNova by 79.3% during the fourth quarter. AQR Capital Management LLC now owns 742,180 shares of the company's stock valued at $34,214,000 after buying an additional 328,313 shares during the period. Finally, LSV Asset Management boosted its stake in LivaNova by 278.3% during the 1st quarter. LSV Asset Management now owns 438,498 shares of the company's stock valued at $17,224,000 after purchasing an additional 322,598 shares during the period. Hedge funds and other institutional investors own 97.64% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on LIVN. Robert W. Baird lifted their target price on LivaNova from $55.00 to $61.00 and gave the stock an "outperform" rating in a report on Thursday, May 8th. Barclays upped their target price on LivaNova from $55.00 to $58.00 and gave the stock an "equal weight" rating in a research note on Thursday, August 21st. Wall Street Zen raised LivaNova from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Needham & Company LLC reaffirmed a "buy" rating and issued a $64.00 target price on shares of LivaNova in a research report on Tuesday, May 13th. Finally, Wolfe Research upgraded LivaNova from a "peer perform" rating to an "outperform" rating and set a $60.00 target price on the stock in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, LivaNova currently has a consensus rating of "Buy" and a consensus target price of $59.71.

LivaNova Stock Performance

Shares of NASDAQ:LIVN traded down $0.22 during midday trading on Wednesday, hitting $56.37. The company had a trading volume of 68,776 shares, compared to its average volume of 705,647. The company has a fifty day moving average of $46.88 and a two-hundred day moving average of $43.15. The company has a market cap of $3.08 billion, a price-to-earnings ratio of -14.49 and a beta of 0.92. LivaNova PLC has a 12-month low of $32.48 and a 12-month high of $57.35. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.29 and a quick ratio of 1.09.

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

LivaNova Company 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.