Millennium Management LLC Lowers Stock Holdings in LivaNova PLC $LIVN

Key Points

• Millennium Management LLC has reduced its stake in LivaNova PLC by 32.5%, owning approximately 2,065,023 shares valued at $81.1 million as of the end of the first quarter.
• Various hedge funds increased their positions in LivaNova, with UMB Bank n.a. and Caitong International Asset Management Co. Ltd. lifting their stakes by 340.5% and 415.4% respectively during the same period.
• LivaNova recently reported its quarterly earnings with $1.05 earnings per share, exceeding analysts' estimates of $0.84, and demonstrated a 10.6% increase in revenue year-over-year.

Millennium Management LLC cut its stake in shares of LivaNova PLC (NASDAQ:LIVN - Free Report) by 32.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,065,023 shares of the company's stock after selling 993,663 shares during the quarter. Millennium Management LLC owned 3.79% of LivaNova worth $81,114,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in LivaNova by 13.5% during the 1st quarter. Vanguard Group Inc. now owns 2,666,880 shares of the company's stock valued at $104,755,000 after acquiring an additional 316,993 shares during the period. AQR Capital Management LLC boosted its holdings in shares of LivaNova by 111.7% during the first 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 during the period. Redmile Group LLC boosted its holdings in shares of LivaNova by 19.3% during the fourth 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 during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of 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 boosted its holdings in shares of 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. 97.64% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LIVN. Wolfe Research upgraded shares of LivaNova from a "peer perform" rating to an "outperform" rating and set a $60.00 target price for the company in a report on Tuesday, May 20th. Barclays increased their target price on shares of LivaNova from $55.00 to $58.00 and gave the stock an "equal weight" rating in a report on Thursday, August 21st. Wall Street Zen upgraded shares of LivaNova from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 9th. Finally, Needham & Company LLC restated a "buy" rating and issued a $64.00 price objective on shares of LivaNova in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, LivaNova has an average rating of "Buy" and an average price target of $59.71.

LivaNova Stock Down 0.7%

Shares of NASDAQ:LIVN traded down $0.40 during trading on Friday, hitting $56.94. The stock had a trading volume of 104,795 shares, compared to its average volume of 696,138. LivaNova PLC has a 12 month low of $32.48 and a 12 month high of $58.91. The company has a market capitalization of $3.11 billion, a PE ratio of -14.64 and a beta of 0.97. The firm's fifty day moving average is $49.63 and its 200 day moving average is $43.95. The company has a quick ratio of 1.09, a current ratio of 1.29 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.21. LivaNova had a negative net margin of 16.13% and a positive return on equity of 14.57%. The firm had revenue of $352.50 million during the quarter, compared to analyst estimates of $332.20 million. During the same period last year, the business earned $0.93 earnings per share. The business's revenue was up 10.6% on a year-over-year basis. Analysts anticipate 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.