LivaNova (NASDAQ:LIVN) Stock Crosses Above 50 Day Moving Average – Here’s What Happened

LivaNova PLC (NASDAQ:LIVN) shares crossed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $80.61 and traded as high as $80.77. LivaNova shares last traded at $80.32, with a volume of 465,952 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have weighed in on LIVN shares. Stifel Nicolaus set a $85.00 target price on shares of LivaNova in a research note on Wednesday, August 5th. Barclays raised their price target on shares of LivaNova from $73.00 to $76.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 7th. Freedom Capital raised shares of LivaNova to a “hold” rating in a report on Tuesday, June 30th. Weiss Ratings upgraded LivaNova from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 18th. Finally, Needham & Company LLC increased their price objective on LivaNova from $81.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.50.

LivaNova Trading Up 0.4%

The firm’s 50 day moving average is $80.61 and its 200 day moving average is $72.35. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.45 and a quick ratio of 1.21. The company has a market cap of $4.42 billion, a PE ratio of 23.76 and a beta of 0.86.

LivaNova (NASDAQ:LIVN) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.17. LivaNova had a return on equity of 16.35% and a net margin of 12.82%.The firm had revenue of $390.59 million for the quarter, compared to analysts’ expectations of $380.50 million. During the same quarter last year, the firm posted $1.05 EPS. The company’s revenue was up 10.8% compared to the same quarter last year. On average, equities analysts anticipate that LivaNova PLC will post 3.77 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LIVN. California State Teachers Retirement System lifted its position in LivaNova by 7,996.3% in the second quarter. California State Teachers Retirement System now owns 5,154,505 shares of the company’s stock valued at $423,855,000 after purchasing an additional 5,090,840 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of LivaNova by 83.5% in the third quarter. Wellington Management Group LLP now owns 2,345,516 shares of the company’s stock worth $122,858,000 after purchasing an additional 1,067,349 shares during the last quarter. Invesco Ltd. increased its stake in shares of LivaNova by 714.7% in the second quarter. Invesco Ltd. now owns 1,028,713 shares of the company’s stock worth $46,313,000 after buying an additional 902,447 shares during the period. Scopia Capital Management LP purchased a new position in shares of LivaNova in the second quarter worth $36,657,000. Finally, Millennium Management LLC raised its holdings in LivaNova by 22.4% during the 3rd quarter. Millennium Management LLC now owns 2,969,814 shares of the company’s stock valued at $155,559,000 after buying an additional 544,033 shares during the last quarter. Hedge funds and other institutional investors own 97.64% of the company’s stock.

LivaNova Company Profile

LivaNova plc is a global medical technology company that develops and manufactures products and therapies for the cardiac surgery and neuromodulation markets. Headquartered in London, United Kingdom, and Houston, Texas, LivaNova serves hospitals, clinics and healthcare providers in more than 100 countries. The company’s primary focus lies in advancing patient care through innovations in heart–lung bypass, cardiac preservation, circulatory support and neurostimulation therapies.

The Cardiac Surgery business unit offers a comprehensive portfolio of products used in cardiopulmonary bypass procedures, including oxygenators, heart–lung machines, arterial filters, cannulae and sutureless heart valves.