LivaNova PLC (LIVN) Receives a Hold from BTIG

In a report released yesterday, Sean Lavin from BTIG reiterated a Hold rating on LivaNova PLC (LIVN). The company’s shares closed yesterday at $68.55, close to its 52-week low of $64.80.

Lavin noted:

“As expected, LIVN revised down FY19 guidance following the pre- announcement. Although we had taken down estimates following the miss, the cut to the U.S. Neuromod outlook was still $10-20M worse than we expected. FY19 EPS is now expected to reach $3.00-3.10, ~$0.15 lower than our already lowered $3.21 forecast. Comps turn more difficult on the base business but with a fuller impact from Epidiolex going forward and no imminent relief in the lagging Heart valves business, we feel that even meeting the low end of the 1-3% constant currency guidance could prove challenging. Optics should improve in the back half when the TRD trial begins to enroll but even successful enrollment and reimbursement are not entirely certain. Overall, we think it will take a few quarters to regain credibility and enhance investor confidence in a turnaround in FY20.”

According to TipRanks.com, Lavin is a 4-star analyst with an average return of 6.1% and a 54.8% success rate. Lavin covers the Healthcare sector, focusing on stocks such as Establishment Labs Holdings Inc, Helius Medical Technologies, and Tactile Systems Technology.

Currently, the analyst consensus on LivaNova PLC is a Moderate Buy with an average price target of $95.43, representing a 39.2% upside. In a report released yesterday, Canaccord Genuity also maintained a Hold rating on the stock with a $67 price target.

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Based on LivaNova PLC’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $211 million. In comparison, last year the company had a net profit of $13.27 million.

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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 following segments: Cardiovascular, Neuromodulation, and Others.