Primecap Management Co. CA Sells 145,650 Shares of LivaNova PLC (NASDAQ:LIVN)

Key Points

• Primecap Management Co. CA has decreased its stake in LivaNova PLC by 3.1%, owning 4,608,410 shares valued at approximately $181 million.
• Institutional ownership dominates LivaNova, with 97.64% of shares held by hedge funds and other institutional investors, highlighting significant interest in the company.
• Analysts show a positive outlook for LivaNova, with a consensus average price target of $59.29 and multiple firms rating it as a "buy" or "outperform."

Primecap Management Co. CA lessened its position in shares of LivaNova PLC (NASDAQ:LIVN - Free Report) by 3.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,608,410 shares of the company's stock after selling 145,650 shares during the period. Primecap Management Co. CA owned approximately 8.45% of LivaNova worth $181,018,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. UMB Bank n.a. raised its position in LivaNova by 340.5% during the first quarter. UMB Bank n.a. now owns 837 shares of the company's stock valued at $33,000 after purchasing an additional 647 shares in the last quarter. CWM LLC raised its holdings in shares of LivaNova by 52.3% during the 1st quarter. CWM LLC now owns 871 shares of the company's stock worth $34,000 after buying an additional 299 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of LivaNova by 17.1% during the 4th quarter. Russell Investments Group Ltd. now owns 1,502 shares of the company's stock worth $70,000 after buying an additional 219 shares in the last quarter. Sterling Capital Management LLC boosted its stake in LivaNova by 800.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,621 shares of the company's stock valued at $75,000 after buying an additional 1,441 shares in the last quarter. Finally, Central Pacific Bank Trust Division grew its position in LivaNova by 7.0% in the first quarter. Central Pacific Bank Trust Division now owns 4,407 shares of the company's stock valued at $173,000 after acquiring an additional 290 shares during the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.

Analysts Set New Price Targets

LIVN has been the subject of a number of research reports. Needham & Company LLC reissued a "buy" rating and issued a $64.00 target price on shares of LivaNova in a report on Tuesday, May 13th. Robert W. Baird raised their target price on shares of LivaNova from $55.00 to $61.00 and gave the company an "outperform" rating in a research report on Thursday, May 8th. Wall Street Zen cut shares of LivaNova from a "strong-buy" rating to a "buy" rating in a research note on Thursday, May 8th. Wolfe Research upgraded LivaNova from a "peer perform" rating to an "outperform" rating and set a $60.00 price target for the company in a research note on Tuesday, May 20th. Finally, Barclays cut their price objective on LivaNova from $56.00 to $55.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $59.29.

LivaNova Trading Up 2.4%

Shares of LIVN stock traded up $1.16 during trading hours on Thursday, hitting $48.52. 942,871 shares of the company's stock traded hands, compared to its average volume of 749,373. The stock has a market cap of $2.65 billion, a PE ratio of -12.47 and a beta of 0.92. The stock's 50 day simple moving average is $44.72 and its 200 day simple moving average is $42.82. The company has a quick ratio of 1.37, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. LivaNova PLC has a 12 month low of $32.48 and a 12 month high of $57.35.

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