LivaNova (NASDAQ:LIVN) Downgraded by Zacks Research to "Hold"

Key Points

• Zacks Research downgraded LivaNova from “strong buy” to “hold,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $83.50.
• LivaNova reported stronger-than-expected quarterly results, posting $1.26 in EPS versus the $1.09 estimate and revenue of $390.59 million, up 10.8% year over year.
• The stock opened at $78.21, near its 52-week high of $85.76, while institutional investors held 97.64% of outstanding shares.

LivaNova (NASDAQ:LIVN - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued on Wednesday,Zacks.com reports.

LIVN has been the topic of several other reports. Weiss Ratings upgraded LivaNova from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday. Needham & Company LLC boosted their price target on LivaNova from $81.00 to $93.00 and gave the stock a "buy" rating in a research report on Wednesday, August 5th. Freedom Capital raised LivaNova to a "hold" rating in a report on Tuesday, June 30th. Stifel Nicolaus set a $85.00 price objective on shares of LivaNova in a report on Wednesday, August 5th. Finally, Barclays increased their target price on shares of LivaNova from $73.00 to $76.00 and gave the company an "equal weight" rating in a research report on Thursday, May 7th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, LivaNova currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.50.

LivaNova Price Performance

NASDAQ LIVN opened at $78.21 on Wednesday. LivaNova has a 52 week low of $48.82 and a 52 week high of $85.76. The company has a current ratio of 1.45, a quick ratio of 1.21 and a debt-to-equity ratio of 0.22. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 23.14 and a beta of 0.86. The company has a 50-day moving average price of $80.56 and a two-hundred day moving average price of $71.83.

LivaNova (NASDAQ:LIVN - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.26 EPS for the quarter, beating the consensus estimate of $1.09 by $0.17. The company had revenue of $390.59 million for the quarter, compared to analyst estimates of $380.50 million. LivaNova had a net margin of 12.82% and a return on equity of 16.35%. LivaNova's revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.05 earnings per share. Analysts forecast that LivaNova will post 3.77 EPS for the current year.

Insiders Place Their Bets

In other LivaNova news, Director Francesco Bianchi sold 1,800 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $75.75, for a total value of $136,350.00. Following the sale, the director directly owned 7,228 shares in the company, valued at approximately $547,521. The trade was a 19.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.35% of the stock is owned by corporate insiders.

Institutional Trading of LivaNova

A number of hedge funds and other institutional investors have recently made changes to their positions in LIVN. Hantz Financial Services Inc. boosted its holdings in LivaNova by 159.9% during the fourth quarter. Hantz Financial Services Inc. now owns 434 shares of the company's stock worth $27,000 after buying an additional 267 shares in the last quarter. State of Wyoming bought a new position in shares of LivaNova in the second quarter valued at $31,000. EverSource Wealth Advisors LLC increased its holdings in shares of LivaNova by 998.4% in the second quarter. EverSource Wealth Advisors LLC now owns 703 shares of the company's stock valued at $32,000 after buying an additional 639 shares in the last quarter. Quarry LP acquired a new stake in shares of LivaNova during the 3rd quarter valued at $36,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of LivaNova during the 2nd quarter valued at $37,000. 97.64% of the stock is currently owned by institutional investors.

About LivaNova

LivaNova plc is a global medical technology company that develops and manufactures products and therapies for the cardiac surgery and neuromodulation markets. Headquartered in London, United Kingdom, and Houston, Texas, LivaNova serves hospitals, clinics and healthcare providers in more than 100 countries. The company's primary focus lies in advancing patient care through innovations in heart–lung bypass, cardiac preservation, circulatory support and neurostimulation therapies.

The Cardiac Surgery business unit offers a comprehensive portfolio of products used in cardiopulmonary bypass procedures, including oxygenators, heart–lung machines, arterial filters, cannulae and sutureless heart valves.

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