After Piper Jaffray and Jefferies gave LivaNova PLC (NASDAQ: LIVN) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Michael Matson reiterated a Buy rating on LivaNova PLC today and set a price target of $129. The company’s shares opened today at $95.72.
Matson observed:
“On 2/15/19, CMS completed its national coverage analysis (NCA) for vagal nerve stimulation (VNS) for treatment-resistant depression (TRD), which expands on some elements of its proposal and will now include patients with bipolar disorder and consider response to treatment (vs. only remission in the proposal). LIVN plans to begin enrolling in a randomized clinical trial (RCT) in 3Q19 (n = 500). We believe every 500 patients enrolled in a randomized clinical trial (RCT) could add ~$0.12 of EPS. A TRD registry could be transformative for LIVN in the long-term, in our view, and we estimate that it could conservatively be worth ~$37 per LIVN share. We believe CMS’ final memo is an incremental positive for LIVN, derisks a significant portion of the TRD opportunity, and we reiterate our Buy rating.”
According to TipRanks.com, Matson is a top 100 analyst with an average return of 13.1% and a 68.3% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for LivaNova PLC with a $137.25 average price target, representing a 43.4% upside. In a report released today, Jefferies also maintained a Buy rating on the stock with a $145 price target.
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The company has a one-year high of $131.54 and a one-year low of $79.96. Currently, LivaNova PLC has an average volume of 552.8K.
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LivaNova Plc is a global medical technology company, which engages in the development and delivery of important therapeutic solutions for the benefit of patients, healthcare professionals and healthcare systems. It operates through the Cardiac Surgery and Neuromodulation, and Other Corporate segments.
