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 decreased its position in LivaNova PLC (NASDAQ:LIVN - Free Report) by 3.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. grew its position in LivaNova by 17.1% during the 4th quarter. Russell Investments Group Ltd. now owns 1,502 shares of the company's stock valued at $70,000 after purchasing an additional 219 shares during the last quarter. Summit Investment Advisors Inc. grew its position in LivaNova by 1.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 16,846 shares of the company's stock valued at $780,000 after purchasing an additional 289 shares during the last quarter. Central Pacific Bank Trust Division grew its position in LivaNova by 7.0% during the 1st quarter. Central Pacific Bank Trust Division now owns 4,407 shares of the company's stock valued at $173,000 after purchasing an additional 290 shares during the last quarter. CWM LLC grew its position in LivaNova by 52.3% during the 1st quarter. CWM LLC now owns 871 shares of the company's stock valued at $34,000 after purchasing an additional 299 shares during the last quarter. Finally, Mariner LLC grew its position in LivaNova by 8.4% during the 4th quarter. Mariner LLC now owns 5,741 shares of the company's stock valued at $266,000 after purchasing an additional 446 shares during the last quarter. 97.64% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LIVN has been the topic of several recent analyst reports. Robert W. Baird increased their price objective 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 upgraded shares of LivaNova from a "buy" rating to a "strong-buy" rating in a research note on Saturday. Needham & Company LLC reaffirmed a "buy" rating and set a $64.00 price target on shares of LivaNova in a report on Tuesday, May 13th. Barclays dropped their price target on shares of LivaNova from $56.00 to $55.00 and set an "equal weight" rating on the stock in a report on Thursday, May 8th. Finally, Wolfe Research raised shares of LivaNova from a "peer perform" rating to an "outperform" rating and set a $60.00 price target on the stock in a report on Tuesday, May 20th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $59.29.

LivaNova Price Performance

NASDAQ:LIVN traded up $0.32 during trading hours on Friday, hitting $48.84. 823,704 shares of the stock traded hands, compared to its average volume of 766,631. 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 1 year low of $32.48 and a 1 year high of $57.35. The company has a market cap of $2.67 billion, a price-to-earnings ratio of -12.56 and a beta of 0.92. The stock has a 50 day moving average price of $44.94 and a 200 day moving average price of $42.78.

LivaNova (NASDAQ:LIVN - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.21. The business had revenue of $352.50 million for the quarter, compared to the consensus estimate of $332.20 million. LivaNova had a negative net margin of 16.13% and a positive return on equity of 14.57%. The company's revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.93 earnings per share. Sell-side analysts forecast that LivaNova PLC will post 2.85 EPS for the current fiscal year.

LivaNova 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.