LivaNova (LIVN)

• Market cap: $2.01B
• 1 day: -1.75%
• 5 days: 1.45%
• 1 month: -5.80%
• 3 months: -26.94%
• 6 months: -27.93%
• Year to date: -20.69%
• 1 year: -33.63%
• 5 years: -30.35%
• 10 years: -47.09%
• Sector: Healthcare
• Industry: Medical Devices

About: UK-based Livanova was born of a combination between Cyberonics in the US and Sorin in Italy. The medical-device firm is primarily focused on cardiopulmonary solutions (with heart-lung machines and oxygenation equipment) as well as neuromodulation devices for treatment-resistant epilepsy and depression. Following the merger, Livanova divested its cardiac rhythm management, heart valve, and extracorporeal membrane oxygenation businesses. It derives roughly half of its revenue from the US market, another 21% from Europe, and the remainder from the rest of the world.

Employees: 2,900

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

361% more call options, than puts

Call options by funds: $3.35M | Put options by funds: $727K

60% more repeat investments, than reductions

Existing positions increased: 109 | Existing positions reduced: 68

50% more funds holding in top 10

Funds holding in top 10: 2 [Q3] → 3 (+1) [Q4]

41% more first-time investments, than exits

New positions opened: 48 | Existing positions closed: 34

5% more funds holding

Funds holding: 242 [Q3] → 254 (+12) [Q4]

4.5% more ownership

Funds ownership: 95.75% [Q3] → 100.25% (+4.5%) [Q4]

8% less capital invested

Capital invested by funds: $2.73B [Q3] → $2.52B (-$210M) [Q4]

Research analyst outlook

5 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $55 49% upside
• Avg. target: $59 59% upside
• High target: $64 73% upside

5 analyst ratings

• positive: 4 80%
• neutral: 1 20%
• negative: 0 0%

Needham Mike Matson 36% 1-year accuracy 44 / 121 met price target	73% upside $64	Buy Reiterated	17 Mar 2025
Barclays Matt Miksic 48% 1-year accuracy 20 / 42 met price target	51% upside $56	Equal-Weight Maintained	7 Mar 2025
Goldman Sachs David Roman 30% 1-year accuracy 6 / 20 met price target	49% upside $55	Buy Maintained	3 Mar 2025
Mizuho Anthony Petrone 45% 1-year accuracy 10 / 22 met price target	62% upside $60	Outperform Maintained	26 Feb 2025
Stifel Rick Wise 30% 1-year accuracy 10 / 33 met price target	62% upside $60	Buy Maintained	26 Feb 2025