LivaNova (NASDAQ:LIVN) Posts Earnings Results, Beats Expectations By $0.21 EPS

Key Points

• LivaNova reported quarterly earnings of $1.05 per share, beating analysts' expectations of $0.84 by $0.21, with revenue reaching $352.50 million, exceeding estimates of $332.20 million.
• The company's stock increased by 0.7% to reach $48.84, with a market cap of $2.67 billion and a current price-to-earnings ratio of -12.56.
• Wall Street analysts are optimistic, with the average rating being "buy" and a consensus target price of $59.29, indicating potential growth for LivaNova shares.

LivaNova (NASDAQ:LIVN - Get Free Report) posted its quarterly earnings data on Wednesday. The company reported $1.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.21, Briefing.com reports. LivaNova had a positive return on equity of 14.57% and a negative net margin of 16.13%. The firm had revenue of $352.50 million during the quarter, compared to analysts' expectations of $332.20 million. During the same quarter last year, the firm earned $0.93 EPS. The business's quarterly revenue was up 10.6% on a year-over-year basis.

LivaNova Stock Up 0.7%

Shares of LIVN traded up $0.32 during trading on Friday, reaching $48.84. The company's stock had a trading volume of 823,704 shares, compared to its average volume of 766,631. 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 company has a quick ratio of 1.37, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average of $44.94 and a two-hundred day moving average of $42.82. LivaNova has a twelve month low of $32.48 and a twelve month high of $57.35.

Institutional Investors Weigh In On LivaNova

A number of institutional investors have recently modified their holdings of LIVN. Goldman Sachs Group Inc. increased its stake in LivaNova by 4.6% during the first quarter. Goldman Sachs Group Inc. now owns 814,974 shares of the company's stock valued at $32,012,000 after purchasing an additional 36,094 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of LivaNova by 10.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 168,863 shares of the company's stock valued at $6,633,000 after buying an additional 15,405 shares during the period. Intech Investment Management LLC grew its position in shares of LivaNova by 19.6% during the 1st quarter. Intech Investment Management LLC now owns 43,879 shares of the company's stock valued at $1,724,000 after buying an additional 7,195 shares during the last quarter. Strs Ohio acquired a new stake in LivaNova during the first quarter worth about $130,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in LivaNova by 4.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,497 shares of the company's stock worth $1,394,000 after acquiring an additional 1,360 shares during the period. Institutional investors and hedge funds own 97.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on LIVN shares. Needham & Company LLC reiterated a "buy" rating and set a $64.00 price target on shares of LivaNova in a report on Tuesday, May 13th. Wall Street Zen cut shares of LivaNova from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 8th. Wolfe Research raised LivaNova from a "peer perform" rating to an "outperform" rating and set a $60.00 price target for the company in a report on Tuesday, May 20th. Barclays cut their target price on LivaNova from $56.00 to $55.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 8th. Finally, Robert W. Baird upped their price target on LivaNova from $55.00 to $61.00 and gave the company an "outperform" rating in a report on Thursday, May 8th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $59.29.

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.

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