LivaNova (NASDAQ:LIVN) Shares Break Below 50-Day Moving Average - What's Next?

Key Points

• LivaNova shares fell below their 50-day moving average, trading as low as $77.39 versus the $78.57 average, with the latest price at $78.14.
• Analyst sentiment remains favorable overall, with a consensus rating of “Moderate Buy” and a $87.75 price target, despite Zacks downgrading the stock to “Hold.”
• The company exceeded quarterly expectations, reporting $1.26 in earnings per share and $390.59 million in revenue, while quarterly revenue increased 10.8% year over year.

LivaNova PLC (NASDAQ:LIVN - Get Free Report) passed below its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $78.57 and traded as low as $77.39. LivaNova shares last traded at $78.14, with a volume of 387,101 shares.

Analyst Ratings Changes

Several analysts have commented on the company. Needham & Company LLC upped their price objective on LivaNova from $81.00 to $93.00 and gave the company a "buy" rating in a research note on Wednesday, August 5th. KeyCorp increased their price objective on LivaNova from $83.00 to $92.00 and gave the stock an "overweight" rating in a research report on Monday, June 22nd. Weiss Ratings upgraded LivaNova from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 18th. Barclays upgraded LivaNova to a "strong-buy" rating in a research note on Wednesday, October 7th. Finally, Zacks Research lowered LivaNova from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, LivaNova presently has a consensus rating of "Moderate Buy" and a consensus price target of $87.75.

LivaNova Price Performance

The company has a market cap of $4.30 billion, a price-to-earnings ratio of 23.12 and a beta of 0.87. 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 company's 50 day moving average price is $78.57 and its 200 day moving average price is $75.72.

LivaNova (NASDAQ:LIVN - Get Free Report) last issued its earnings results on Thursday, August 6th. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.17. LivaNova had a net margin of 12.82% and a return on equity of 16.35%. The business had revenue of $390.59 million for the quarter, compared to the consensus estimate of $380.50 million. During the same quarter in the previous year, the firm earned $1.05 earnings per share. The business's quarterly revenue was up 10.8% compared to the same quarter last year. Equities research analysts forecast that LivaNova PLC will post 3.78 earnings per share for the current year.

Insider Buying and Selling

In other LivaNova news, Director Brooke Story sold 2,300 shares of the business's stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $81.42, for a total transaction of $187,266.00. Following the transaction, the director owned 7,488 shares in the company, valued at approximately $609,672.96. The trade was a 23.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Francesco Bianchi sold 3,500 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $78.01, for a total value of $273,035.00. Following the transaction, the director directly owned 4,434 shares of the company's stock, valued at approximately $345,896.34. This trade represents a 44.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 7,450 shares of company stock worth $591,839 in the last ninety days. 0.35% of the stock is owned by corporate insiders.

Institutional Trading of LivaNova

Several hedge funds have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in LivaNova by 12.5% during the third quarter. GAMMA Investing LLC now owns 2,068 shares of the company's stock worth $158,000 after acquiring an additional 230 shares during the period. Farther Finance Advisors LLC raised its position in LivaNova by 59.7% in the third quarter. Farther Finance Advisors LLC now owns 452 shares of the company's stock worth $35,000 after acquiring an additional 169 shares in the last quarter. Avidian Wealth Enterprises LLC purchased a new position in LivaNova in the third quarter worth $752,000. Cim Investment Management Inc. purchased a new position in LivaNova in the second quarter worth $248,000. Finally, Tidal Investments LLC acquired a new stake in LivaNova in the second quarter valued at $204,000. 97.64% of the stock is owned by institutional investors and hedge funds.

LivaNova Company Profile

LivaNova PLC NASDAQ: LIVN is a medical technology company that develops and manufactures devices and therapies for patients with neurological and cardiovascular conditions. Its products are used by hospitals, physicians and other healthcare providers in markets around the world.

The company's Neuromodulation business is best known for VNS Therapy, which uses an implanted device to deliver electrical stimulation to the vagus nerve. The therapy is used primarily for drug-resistant epilepsy and treatment-resistant depression, subject to applicable regulatory approvals.

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