LivaNova (NASDAQ:LIVN) Rating Lowered to Hold at The Goldman Sachs Group

Key Points

• The Goldman Sachs Group has downgraded LivaNova (NASDAQ:LIVN) from a "strong-buy" rating to a "hold" rating.
• Despite the downgrade, Needham & Company reiterated a "buy" rating with a target price of $64.00, while Barclays increased their target price from $55.00 to $58.00.
• LivaNova recently reported earnings of $1.05 per share, exceeding analyst expectations of $0.84, with quarterly revenue rising 10.6% year-over-year to $352.50 million.

LivaNova (NASDAQ:LIVN - Get Free Report) was downgraded by The Goldman Sachs Group from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Wednesday, Marketbeat reports. They presently have a $55.00 price objective on the stock. The Goldman Sachs Group's price objective suggests a potential upside of 8.67% from the company's previous close.

A number of other equities research analysts have also recently commented on LIVN. Wall Street Zen upgraded shares of LivaNova from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Needham & Company LLC restated a "buy" rating and set a $64.00 price objective on shares of LivaNova in a research report on Wednesday, September 3rd. Finally, Barclays lifted their target price on shares of LivaNova from $55.00 to $58.00 and gave the company an "equal weight" rating in a research note on Thursday, August 21st. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, LivaNova currently has a consensus rating of "Moderate Buy" and an average price target of $59.71.

LivaNova Price Performance

Shares of LivaNova stock opened at $50.61 on Wednesday. The stock's fifty day moving average is $52.31 and its 200 day moving average is $45.28. LivaNova has a one year low of $32.48 and a one year high of $58.91. 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 $2.76 billion, a P/E ratio of -13.01 and a beta of 0.95.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC increased its holdings in shares of LivaNova by 2,299.7% in the first quarter. GAMMA Investing LLC now owns 8,759 shares of the company's stock worth $344,000 after purchasing an additional 8,394 shares during the last quarter. UMB Bank n.a. grew its holdings in LivaNova by 340.5% during the 1st quarter. UMB Bank n.a. now owns 837 shares of the company's stock valued at $33,000 after buying an additional 647 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in LivaNova by 101.3% in the 1st quarter. Harbor Capital Advisors Inc. now owns 84,913 shares of the company's stock worth $3,335,000 after acquiring an additional 42,728 shares during the last quarter. Chapin Davis Inc. purchased a new stake in shares of LivaNova during the 1st quarter worth approximately $668,000. Finally, Principal Financial Group Inc. raised its holdings in shares of LivaNova by 2.1% during the 1st quarter. Principal Financial Group Inc. now owns 179,546 shares of the company's stock worth $7,053,000 after acquiring an additional 3,668 shares in the last quarter. Institutional investors own 97.64% of the company's stock.

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.