LivaNova (LIVN) Shares Down 18.4% Following Insider Selling
LivaNova PLC (NASDAQ:LIVN)’s share price fell 18.4% on Tuesday following insider selling activity. The stock traded as low as $95.19 and last traded at $98.04. 2,310,361 shares traded hands during trading, an increase of 417% from the average session volume of 446,889 shares. The stock had previously closed at $120.16.
Specifically, Director Daniel Jeffrey Moore sold 1,000 shares of LivaNova stock in a transaction on Monday, September 17th. The shares were sold at an average price of $123.49, for a total value of $123,490.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider David S. Wise sold 1,500 shares of LivaNova stock in a transaction on Monday, September 17th. The shares were sold at an average price of $123.43, for a total transaction of $185,145.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 8,500 shares of company stock worth $1,002,355. 0.41% of the stock is currently owned by company insiders.
A number of research firms have commented on LIVN. Stifel Nicolaus restated a “buy” rating and issued a $135.00 price objective on shares of LivaNova in a research note on Thursday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $135.00 target price (up previously from $128.00) on shares of LivaNova in a report on Wednesday, August 1st. BidaskClub raised shares of LivaNova from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 26th. Zacks Investment Research downgraded shares of LivaNova from a “buy” rating to a “hold” rating in a report on Thursday, September 20th. Finally, BTIG Research reaffirmed a “hold” rating on shares of LivaNova in a report on Thursday, November 1st. Three equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $126.50.
LivaNova (NASDAQ:LIVN) last issued its earnings results on Wednesday, October 31st. The company reported $0.82 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.90 by ($0.08). The firm had revenue of $272.10 million during the quarter, compared to analysts’ expectations of $275.03 million. LivaNova had a negative net margin of 8.31% and a positive return on equity of 8.77%. The firm’s revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.83 EPS. Analysts predict that LivaNova PLC will post 3.1 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of LIVN. BlackRock Inc. boosted its holdings in shares of LivaNova by 7.3% in the third quarter. BlackRock Inc. now owns 5,787,930 shares of the company’s stock valued at $717,530,000 after acquiring an additional 394,915 shares in the last quarter. Rehmann Capital Advisory Group boosted its holdings in shares of LivaNova by 12,226.6% in the third quarter. Rehmann Capital Advisory Group now owns 303,974 shares of the company’s stock valued at $2,452,000 after acquiring an additional 301,508 shares in the last quarter. RTW Investments LP boosted its holdings in LivaNova by 207.9% during the second quarter. RTW Investments LP now owns 431,000 shares of the company’s stock worth $43,022,000 after buying an additional 291,000 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in LivaNova by 31.4% during the second quarter. Wells Fargo & Company MN now owns 1,177,233 shares of the company’s stock worth $117,511,000 after buying an additional 281,610 shares in the last quarter. Finally, Capital Research Global Investors purchased a new stake in LivaNova during the third quarter worth about $25,290,000. 82.26% of the stock is currently owned by institutional investors and hedge funds.
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About LivaNova (NASDAQ:LIVN)
LivaNova PLC, a medical device company, designs, develops, manufactures, and sells therapeutic solutions worldwide. The company operates in two segments, Cardiac Surgery and Neuromodulation. The Cardiac Surgery segment develops, produces, and sells cardiopulmonary products, including oxygenators, heart-lung machines, perfusion tubing systems, cannulae and accessories for extracorporeal circulation, and systems for autotransfusion and autologous blood washing, as well as surgical tissue and mechanical heart valve replacements, and repair products for damaged or diseased heart valves.
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