Panagora Asset Management Inc. Raises Stock Holdings in LivaNova PLC $LIVN

Key Points

• Panagora Asset Management Inc. increased its holdings in LivaNova PLC by 6.6%, acquiring an additional 15,814 shares during the first quarter, bringing its total ownership to 255,687 shares valued at $10.04 million.
• Other institutional investors, including UMB Bank and Caitong International Asset Management, have also significantly increased their stakes in LivaNova, which commands a total institutional ownership of 97.64%.
• LivaNova reported better-than-expected quarterly earnings with an EPS of $1.05, exceeding forecasts, and its revenue increased by 10.6% year-over-year.

Panagora Asset Management Inc. increased its position in LivaNova PLC (NASDAQ:LIVN - Free Report) by 6.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 255,687 shares of the company's stock after buying an additional 15,814 shares during the quarter. Panagora Asset Management Inc. owned 0.47% of LivaNova worth $10,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in LivaNova by 13.5% in 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 last quarter. Redmile Group LLC lifted its position in LivaNova by 19.3% in the 4th quarter. Redmile Group LLC now owns 1,043,539 shares of the company's stock worth $48,326,000 after buying an additional 168,500 shares during the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in LivaNova by 100.7% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 1,003,000 shares of the company's stock worth $39,398,000 after buying an additional 503,350 shares during the last quarter. Nuveen Asset Management LLC lifted its position in LivaNova by 0.6% in the 4th quarter. Nuveen Asset Management LLC now owns 823,412 shares of the company's stock worth $38,132,000 after buying an additional 5,080 shares during the last quarter. Finally, Nuveen LLC bought a new stake in LivaNova in the 1st quarter worth approximately $30,954,000. Institutional investors own 97.64% of the company's stock.

LivaNova Trading Up 2.8%

Shares of LivaNova stock traded up $1.56 during midday trading on Thursday, reaching $58.15. 561,647 shares of the company's stock traded hands, compared to its average volume of 704,340. 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 cap of $3.18 billion, a PE ratio of -14.95 and a beta of 0.97. The stock has a 50 day moving average of $48.18 and a 200-day moving average of $43.53. LivaNova PLC has a 12 month low of $32.48 and a 12 month high of $58.19.

LivaNova (NASDAQ:LIVN - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $1.05 EPS for the quarter, beating analysts' consensus estimates 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 positive return on equity of 14.57% and a negative net margin of 16.13%.The firm's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 earnings per share. As a group, equities analysts expect that LivaNova PLC will post 2.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LIVN has been the subject of a number of recent research reports. Needham & Company LLC restated a "buy" rating and issued a $64.00 target price on shares of LivaNova in a research report on Wednesday. Wolfe Research upgraded 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. Barclays boosted their price objective on LivaNova from $55.00 to $58.00 and gave the company an "equal weight" rating in a research report on Thursday, August 21st. Robert W. Baird boosted their price objective on LivaNova from $55.00 to $61.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Finally, Wall Street Zen upgraded LivaNova from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. 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. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus 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.