On March 30th, 2023, CEO Damien Mcdonald of LivaNova PLC sold a total of 2,220 shares in the company’s stock at an average price of $42.55 per share, resulting in a transaction value of $94,461.00. Following the sale, Mr. Mcdonald holds ownership of 111,847 shares valued at approximately $4,759,089.85.
The disclosure was made through a legal filing with the Securities & Exchange Commission and can be accessed via a provided link. LIVN stocks traded up by $0.19 during trading hours on Friday and reached $47.90 with a trading volume of 318,326 shares as compared to its average volume of 533,778 recorded earlier.
LivaNova Plc is a leading medical technology firm dedicated to providing therapeutic solutions that benefit patients worldwide along with healthcare professionals and healthcare systems alike. The firm operates through two segments: Cardiopulmonary and Other segments.
The Cardiopulmonary segment focuses on developing and selling cardiopulmonary products such as heart-lung machines, cannulae, oxygenators perfusion tubing systems, autotransfusion systems alongside related products’ accessories.
Several hedge funds have recently increased or decreased their stakes in the business – including Bank of Montreal Can (BMO), which has raised its stake by 213% to reach 35,725 shares from its existing holding worth $2 million in capital; Panagora Asset Management Inc., which recently acquired new holdings at a stake value for $256k; Rhumbline Advisers increased its stake by 2% reaching 147k shares worth $12 million capital while Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position by over ten percent to reach ownership over some twenty thousand shares worth around $1.5 million capital.
Finally, Yousif Capital Management also grew its position in LivaNova by 2.4%, reaching ownership over 28,279 shares worth just under $2.5 million by Q1-end of 2023.
Overall, the company has a market capitalization of $2.57 billion along with a PE ratio of -29.79 and a beta value of 0.86, despite facing challenges resulting from Covid-19 restrictions which further impacted investment decisions at large across various hedge funds worldwide.
LivaNova Surpasses Earnings Expectations with Strong Revenue Growth
LivaNova (NASDAQ: LIVN) released its quarterly earnings results on Wednesday, February 22nd, to much anticipation from investors and analysts alike. The company managed to surpass the expectations of the consensus estimate by revealing $0.09 more in earnings per share than anticipated, reporting an EPS of $0.81 for the quarter, compared to the expected $0.72.
Furthermore, LivaNova had a positive return on equity of 10.49%, which is excellent news for its shareholders. However, it also reported a negative net margin of 8.44% which means that it’s not operating as efficiently as some would like.
Fortunately, these concerns were overshadowed by the company’s revenue figures, which showed remarkable growth compared to previous years. In Q1 of FY2023, LivaNova recorded a robust revenue figure of $274.90 million – an increase of 1.8% when compared with the same quarter in the previous year and nearly $13 million higher than analysts’ estimates.
Following these impressive results, several financial institutions released reports on LivaNova’s stock performance and predicted near-future movement within the market.
Needham & Company LLC reaffirmed its “buy” rating on shares of LivaNova while further indicating a $77 price objective per share on April 17th this year.
Alternatively, Mizuho initiated coverage concerning LivaNova in a research note published on Thursday, April 13th; they set a neutral rating and price objective at $48 for the company.
Similarly, StockNews.com also initiated coverage recently in their report published on Thursday 16th March stating that they believed shares were a buy opportunity at present levels.
Unfortunately,LivaNova fell foul of Barclays’ reduced target price from $62 to $45 that was announced in early April this year along with comments proclaiming LivaNova’s reduced earnings growth.
Despite these target price reductions and falling earnings per share, the company appears on target to meet pre-existing market expectations. The Bloomberg consensus rating gives LivaNova a ‘Moderate Buy’ status, while its consensus price target is at $63.40, which could indicate that there is still considerable upside for this stock in the coming months.