LivaNova (NASDAQ:LIVN) Shares Cross Above 50-Day Moving Average - Here's Why

Key Points

• LivaNova shares moved above their 50-day moving average, reaching $80.77 before closing at $80.32, compared with a 50-day average of $80.61.
• Analysts remain generally positive, with six Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $83.50. Several firms recently raised their targets, including Mizuho to $95 and Needham to $93.
• The company exceeded quarterly expectations, reporting $1.26 in EPS versus a $1.09 estimate and $390.59 million in revenue, up 10.8% year over year. Institutional investors own 97.64% of the stock.

LivaNova PLC (NASDAQ:LIVN - Get Free Report) shares crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $80.61 and traded as high as $80.77. LivaNova shares last traded at $80.32, with a volume of 465,952 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Mizuho raised their price objective on LivaNova from $90.00 to $95.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. KeyCorp boosted their price target on LivaNova from $83.00 to $92.00 and gave the company an "overweight" rating in a research note on Monday, June 22nd. Robert W. Baird decreased their target price on shares of LivaNova from $78.00 to $76.00 and set an "outperform" rating on the stock in a report on Thursday, May 7th. Weiss Ratings upgraded shares of LivaNova from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, August 18th. Finally, Needham & Company LLC boosted their price objective on shares of LivaNova from $81.00 to $93.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.50.

LivaNova Price Performance

The stock has a market cap of $4.42 billion, a P/E ratio of 23.76 and a beta of 0.86. The company's 50 day moving average price is $80.61 and its 200-day moving average price is $72.35. The company has a quick ratio of 1.21, a current ratio of 1.45 and a debt-to-equity ratio of 0.22.

LivaNova (NASDAQ:LIVN - Get Free Report) last announced its 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. LivaNova had a return on equity of 16.35% and a net margin of 12.82%.The business had revenue of $390.59 million for the quarter, compared to analysts' expectations of $380.50 million. During the same period in the prior year, the business posted $1.05 earnings per share. The firm's revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts expect that LivaNova PLC will post 3.77 earnings per share for the current year.

Institutional Investors Weigh In On LivaNova

A number of institutional investors and hedge funds have recently made changes to their positions in LIVN. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in LivaNova during the second quarter worth about $4,053,000. California State Teachers Retirement System lifted its position in shares of LivaNova by 7,996.3% during the 2nd quarter. California State Teachers Retirement System now owns 5,154,505 shares of the company's stock worth $423,855,000 after buying an additional 5,090,840 shares in the last quarter. Turner Financial Group Inc. purchased a new position in shares of LivaNova in the 2nd quarter worth approximately $392,000. Public Employees Retirement System of Ohio purchased a new position in shares of LivaNova in the 2nd quarter worth approximately $37,000. Finally, GAMMA Investing LLC grew its holdings in shares of LivaNova by 18.2% in the second quarter. GAMMA Investing LLC now owns 1,838 shares of the company's stock valued at $151,000 after acquiring an additional 283 shares in the last quarter. Institutional investors and hedge funds own 97.64% of the company's stock.

LivaNova Company Profile

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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