In a report released today, Michael Matson from Needham maintained a Buy rating on LivaNova PLC (LIVN), with a price target of $100. The company’s shares opened today at $76.01, close to its 52-week low of $68.30.
Matson said:
“This morning, LIVN preannounced 1Q19 revenue below consensus given challenges in its Neuromodulation and Cardiovascular businesses. We expect LIVN to lower its 2019 guidance materially when it reports its 1Q19 results on 5/1/19. In Neuromodulation, LIVN was hurt as patients trialed the new drug Epidiolex and rep turnover increased. And Cardiovascular sales were hurt by poor field execution. While LIVN shares were trading at a premium, we attribute this to the option value of its deep pipeline which hasn’t changed in our view. We believe the problems are temporary and can be fixed. We lower our price target given our expectation of a guidance cut but maintain our Buy rating.”
According to TipRanks.com, Matson is a 5-star analyst with an average return of 12.2% and a 66.2% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.
LivaNova PLC has an analyst consensus of Moderate Buy, with a price target consensus of $119.40, which is a 57.1% upside from current levels. In a report issued on March 29, Piper Jaffray also maintained a Buy rating on the stock with a $120 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.
