LivaNova (NASDAQ:LIVN) Cut to “Strong Sell” at Zacks Investment Research

LivaNova (NASDAQ:LIVN) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Thursday, January 25th.

According to Zacks, “LivaNova PLC is a medical technology company which focuses on providing treatment for cardiovascular diseases and neuromodulation. The Company’s operating units consists of Cardiac Rhythm Management, Cardiac Surgery and Neuromodulation. LivaNova PLC, formerly known as Cyberonics, Inc., is based in London, United Kingdom. “

Several other analysts have also issued reports on LIVN. BidaskClub lowered LivaNova from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. ValuEngine lowered LivaNova from a “buy” rating to a “hold” rating in a report on Wednesday, December 20th. Canaccord Genuity restated a “hold” rating and issued a $76.00 price objective on shares of LivaNova in a research note on Tuesday, December 5th. Needham & Company LLC upped their price objective on LivaNova from $93.00 to $97.00 and gave the company a “buy” rating in a research note on Tuesday, December 5th. Finally, BTIG Research restated a “hold” rating on shares of LivaNova in a research note on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $79.71.

LivaNova (NASDAQ LIVN) opened at $82.16 on Thursday. The company has a current ratio of 2.03, a quick ratio of 1.42 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $3,967.81, a PE ratio of 70.22, a PEG ratio of 2.44 and a beta of 0.83. LivaNova has a 52-week low of $45.67 and a 52-week high of $88.56.

In related news, Director Alfred J. Novak sold 2,000 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $85.77, for a total transaction of $171,540.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel Jeffrey Moore sold 1,000 shares of LivaNova stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $81.39, for a total value of $81,390.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,830 shares of company stock worth $576,920. Company insiders own 0.28% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of LivaNova by 79.3% in the 2nd quarter. BlackRock Inc. now owns 4,648,780 shares of the company’s stock valued at $284,552,000 after buying an additional 2,055,891 shares during the period. Koch Industries Inc. acquired a new stake in shares of LivaNova in the 2nd quarter valued at about $1,384,000. State Street Corp grew its stake in shares of LivaNova by 74.8% in the 2nd quarter. State Street Corp now owns 1,835,428 shares of the company’s stock valued at $112,345,000 after buying an additional 785,268 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in LivaNova during the 4th quarter valued at about $55,467,000. Finally, Hermes Investment Management Ltd. acquired a new position in LivaNova during the 4th quarter valued at about $39,663,000. 88.53% of the stock is owned by hedge funds and other institutional investors.

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LivaNova 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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