LivaNova (NASDAQ:LIVN) Stock Price Up 6.2% – Here’s Why

LivaNova PLC (NASDAQ:LIVN)’s stock price shot up 6.2% during trading on Tuesday . The stock traded as high as $55.32 and last traded at $55.01. 69,295 shares were traded during trading, a decline of 89% from the average session volume of 618,200 shares. The stock had previously closed at $51.81.

Analysts Set New Price Targets

Several brokerages recently commented on LIVN. Baird R W upgraded shares of LivaNova from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 17th. Needham & Company LLC reiterated a “buy” rating and set a $75.00 price objective on shares of LivaNova in a research note on Tuesday. StockNews.com raised shares of LivaNova from a “buy” rating to a “strong-buy” rating in a research report on Friday. Stifel Nicolaus increased their target price on shares of LivaNova from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Robert W. Baird raised their price target on shares of LivaNova from $66.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $69.17.

LivaNova Stock Up 2.3 %

The firm’s fifty day simple moving average is $51.40 and its two-hundred day simple moving average is $53.00. The company has a current ratio of 3.37, a quick ratio of 2.87 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 126.52 and a beta of 1.01.

Hedge Funds Weigh In On LivaNova

Several large investors have recently made changes to their positions in the stock. Point72 Asset Management L.P. increased its stake in LivaNova by 204.3% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,285,636 shares of the company’s stock worth $70,479,000 after buying an additional 863,157 shares during the period. First Light Asset Management LLC increased its position in shares of LivaNova by 591.1% in the 2nd quarter. First Light Asset Management LLC now owns 710,390 shares of the company’s stock valued at $38,944,000 after purchasing an additional 607,598 shares during the last quarter. Great Lakes Advisors LLC purchased a new stake in shares of LivaNova in the 2nd quarter valued at approximately $16,614,000. Driehaus Capital Management LLC increased its position in shares of LivaNova by 64.7% in the 2nd quarter. Driehaus Capital Management LLC now owns 544,042 shares of the company’s stock valued at $29,824,000 after purchasing an additional 213,749 shares during the last quarter. Finally, Magnetar Financial LLC increased its position in shares of LivaNova by 24.5% in the 1st quarter. Magnetar Financial LLC now owns 753,338 shares of the company’s stock valued at $42,142,000 after purchasing an additional 148,178 shares during the last quarter. 97.64% of the stock is currently owned by institutional investors and hedge funds.

LivaNova Company Profile

LivaNova PLC, a medical device company, designs, develops, manufactures, and sells therapeutic solutions worldwide. The company operates through Cardiopulmonary, Neuromodulation, and Advanced Circulatory Support segments. The Cardiopulmonary segment develops, produces, and sells cardiopulmonary products, including oxygenators, heart-lung machines, autotransfusion systems, perfusion tubing systems, cannulae, connect, and other related products.