LivaNova PLC $LIVN is Redmile Group LLC's 7th Largest Position

Key Points

• Redmile Group LLC reduced its holdings in LivaNova PLC by 2.8% during the first quarter, now owning approximately $39.8 million worth of shares.
• Several brokerages have upgraded LivaNova, with Wall Street Zen changing its rating from "buy" to "strong-buy", indicating positive sentiment for the stock.
• LivaNova reported a 10.6% year-over-year revenue increase with $352.5 million in revenue for the last quarter, exceeding analyst expectations.

Redmile Group LLC decreased its holdings in shares of LivaNova PLC (NASDAQ:LIVN - Free Report) by 2.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,014,139 shares of the company's stock after selling 29,400 shares during the period. LivaNova comprises about 3.8% of Redmile Group LLC's portfolio, making the stock its 7th largest holding. Redmile Group LLC owned approximately 1.86% of LivaNova worth $39,835,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of LivaNova by 13.5% during the first quarter. Vanguard Group Inc. now owns 2,666,880 shares of the company's stock worth $104,755,000 after acquiring an additional 316,993 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its position 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 acquiring an additional 503,350 shares during the last quarter. Nuveen Asset Management LLC grew its position 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 acquiring an additional 5,080 shares during the last quarter. Nuveen LLC bought a new position in shares of LivaNova during the first quarter worth about $30,954,000. Finally, Northern Trust Corp grew its position in shares of LivaNova by 11.2% during the fourth quarter. Northern Trust Corp now owns 703,019 shares of the company's stock worth $32,557,000 after acquiring an additional 70,630 shares during the last quarter. Institutional investors own 97.64% of the company's stock.

LivaNova Price Performance

NASDAQ LIVN traded down $0.18 on Friday, reaching $57.97. The company's stock had a trading volume of 958,459 shares, compared to its average volume of 633,219. LivaNova PLC has a twelve month low of $32.48 and a twelve month high of $58.42. 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 stock has a market cap of $3.17 billion, a PE ratio of -14.90 and a beta of 0.97. The firm's 50 day moving average is $48.67 and its two-hundred day moving average is $43.65.

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 analysts' consensus estimates 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 company had revenue of $352.50 million during the quarter, compared to the consensus estimate of $332.20 million. During the same period in the prior year, the company earned $0.93 EPS. LivaNova's revenue was up 10.6% on a year-over-year basis. As a group, sell-side analysts predict that LivaNova PLC will post 2.85 EPS for the current year.

Analysts Set New Price Targets

LIVN has been the subject of several recent research reports. Wall Street Zen upgraded shares of LivaNova from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. 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 research report on Tuesday, May 20th. Barclays increased their target price on shares of LivaNova from $55.00 to $58.00 and gave the company an "equal weight" rating in a research report on Thursday, August 21st. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $64.00 target price on shares of LivaNova in a research report on Wednesday. One 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's stock. According to MarketBeat, LivaNova has a consensus rating of "Buy" and a consensus target price of $59.71.

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.