LivaNova PLC (LIVN) Hits New 12-Month High on Better-Than-Expected Earnings

LivaNova PLC (NASDAQ:LIVN) shares hit a new 52-week high on Wednesday following a better than expected earnings announcement. The company traded as high as $63.86 and last traded at $63.89, with a volume of 515,260 shares traded. The stock had previously closed at $61.31.

The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.19. LivaNova PLC had a positive return on equity of 8.77% and a negative net margin of 0.92%. The business had revenue of $321.40 million during the quarter, compared to the consensus estimate of $315.75 million. The firm’s revenue for the quarter was up .1% on a year-over-year basis.

Separately, BidaskClub downgraded LivaNova PLC from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th.

In other news, Director Sharon O’kane acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was purchased at an average cost of $58.58 per share, for a total transaction of $58,580.00. Following the completion of the acquisition, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $58,580. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 3,000 shares of company stock valued at $180,840 over the last 90 days. 0.28% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Icon Advisers Inc. Co. purchased a new stake in LivaNova PLC during the first quarter valued at $333,000. Bank of New York Mellon Corp increased its stake in LivaNova PLC by 5.1% in the first quarter. Bank of New York Mellon Corp now owns 374,488 shares of the company’s stock valued at $18,353,000 after buying an additional 18,042 shares during the last quarter. Norges Bank purchased a new stake in LivaNova PLC during the fourth quarter valued at $14,987,000. Dimensional Fund Advisors LP increased its stake in LivaNova PLC by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 452,306 shares of the company’s stock valued at $20,341,000 after buying an additional 3,730 shares during the last quarter. Finally, Waverton Investment Management Ltd increased its stake in LivaNova PLC by 866.3% in the second quarter. Waverton Investment Management Ltd now owns 111,220 shares of the company’s stock valued at $6,808,000 after buying an additional 99,710 shares during the last quarter. Hedge funds and other institutional investors own 73.41% of the company’s stock.

The stock’s market capitalization is $3.13 billion. The firm’s 50 day moving average is $61.60 and its 200-day moving average is $54.55.

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LivaNova PLC Company Profile

LivaNova PLC is a medical device company focused on the development and delivery of therapeutic solutions. The Company’s segments include Cardiac Surgery, Cardiac Rhythm Management, Neuromodulation and Other. The Cardiac Surgery segment is engaged in the development, production and sale of cardiovascular surgery products.

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