LivaNova (NASDAQ:LIVN) Shares Gap Up – Time to Buy?

LivaNova PLC (NASDAQ:LIVN) gapped up prior to trading on Wednesday . The stock had previously closed at $52.97, but opened at $55.23. LivaNova shares last traded at $55.74, with a volume of 145,438 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. The Goldman Sachs Group started coverage on LivaNova in a research report on Friday, October 4th. They set a “buy” rating and a $65.00 price target on the stock. Baird R W upgraded shares of LivaNova from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 17th. Stifel Nicolaus upped their price target on shares of LivaNova from $70.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Robert W. Baird upgraded shares of LivaNova from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $55.00 to $66.00 in a research report on Tuesday, September 17th. Finally, Needham & Company LLC increased their target price on shares of LivaNova from $72.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, LivaNova presently has a consensus rating of “Buy” and an average price target of $69.83.

LivaNova Price Performance

The company has a market cap of $2.84 billion, a PE ratio of -88.28 and a beta of 1.00. The firm’s 50-day moving average is $50.83 and its 200-day moving average is $53.16. The company has a quick ratio of 2.94, a current ratio of 3.45 and a debt-to-equity ratio of 0.49.

LivaNova (NASDAQ:LIVN) last released its earnings results on Wednesday, July 31st. The company reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.15. The company had revenue of $318.60 million during the quarter, compared to analysts’ expectations of $305.05 million. LivaNova had a positive return on equity of 13.77% and a negative net margin of 1.37%. On average, equities analysts anticipate that LivaNova PLC will post 2.58 EPS for the current year.

Institutional Trading of LivaNova

A number of hedge funds have recently modified their holdings of the business. Emerald Advisers LLC grew its holdings in LivaNova by 2.1% in the third quarter. Emerald Advisers LLC now owns 695,505 shares of the company’s stock worth $36,542,000 after purchasing an additional 14,302 shares during the period. abrdn plc increased its position in LivaNova by 43.8% during the 3rd quarter. abrdn plc now owns 232,025 shares of the company’s stock valued at $12,191,000 after buying an additional 70,618 shares in the last quarter. State of Alaska Department of Revenue raised its stake in LivaNova by 7.3% during the third quarter. State of Alaska Department of Revenue now owns 6,246 shares of the company’s stock valued at $328,000 after buying an additional 425 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in LivaNova by 3.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 797,284 shares of the company’s stock worth $41,889,000 after acquiring an additional 25,277 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management UK Ltd. grew its stake in shares of LivaNova by 11.8% in the third quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 19,000 shares of the company’s stock worth $998,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors own 97.64% of the company’s stock.

LivaNova Company Profile

LivaNova PLC, a medical device company, designs, develops, manufactures, and sells therapeutic solutions worldwide. The company operates through Cardiopulmonary, Neuromodulation, and Advanced Circulatory Support segments. The Cardiopulmonary segment develops, produces, and sells cardiopulmonary products, including oxygenators, heart-lung machines, autotransfusion systems, perfusion tubing systems, cannulae, connect, and other related products.