.jpg "LivaNova PLC (NASDAQ: LIVN)")
In a report released today, Michael Matson from Needham reiterated a Buy rating on LivaNova PLC (NASDAQ: LIVN), with a price target of $106. The company’s shares closed yesterday at $82.99.
Matson commented:
“Wednesday (5/30/18) evening, the Services (CMS) announced that it opened a national coverage analysis (NCA) for vagal nerve stimulation (VNS) for treatment-resistant depression (TRD). LIVN offers the only implantable VNS devices in the US; while its VNS devices are FDA approved for both drug-resistant epilepsy and treatment-resistant depression, CMS currently only covers VNS for drug-resistant epilepsy. We think the most likely outcome of the NCA is the CMS provides coverage with evidence development which would make VNS available to patients enrolled in a registry. LIVN estimates the potential TRD market is ~10x that of drug-resistant epilepsy. We conservatively estimate this opportunity could be worth ~$9 per LIVN share and reiterate our Buy rating.”
According to TipRanks.com, Matson is a 5-star analyst with an average return of 10.2% and a 62.6% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.
Currently, the analyst consensus on LivaNova PLC is Moderate Buy and the average price target is $99.75, representing a 20.2% upside.
In a report released today, Piper Jaffray also maintained a Buy rating on the stock with a $105 price target.
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Based on LivaNova PLC’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $13.27 million. In comparison, last year the company had a net profit of $11.27 million.
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LivaNova Plc is a global medical technology company specializing in the areas of Cardiac Surgery, Neuromodulation and Cardiac Rhythm Management. It provides its services to patients, healthcare professionals and healthcare systems. The company was founded on October 19, 2015 and is headquartered in London, the United Kingdom.
