LivaNova (NASDAQ:LIVN) Trading Down 3.9% - Here's Why

Shares of LivaNova PLC (NASDAQ:LIVN - Get Free Report) dropped 3.9% on Monday . The stock traded as low as $48.72 and last traded at $49.15. Approximately 196,592 shares changed hands during trading, a decline of 68% from the average daily volume of 619,432 shares. The stock had previously closed at $51.13.

Analyst Ratings Changes

Several brokerages recently weighed in on LIVN. Needham & Company LLC reissued a "buy" rating and issued a $75.00 price objective on shares of LivaNova in a report on Thursday. The Goldman Sachs Group assumed coverage on shares of LivaNova in a research report on Friday, October 4th. They issued a "buy" rating and a $65.00 price target on the stock. Stifel Nicolaus raised their price objective on shares of LivaNova from $70.00 to $72.00 and gave the stock a "buy" rating in a report on Thursday, July 25th. Mizuho reduced their price objective on shares of LivaNova from $80.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday. Finally, Robert W. Baird increased their target price on LivaNova from $66.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $69.17.

LivaNova Stock Down 4.1 %

The company's 50 day simple moving average is $51.18 and its 200-day simple moving average is $53.10. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.94 and a current ratio of 3.37. The firm has a market capitalization of $2.66 billion, a PE ratio of 116.69 and a beta of 1.01.

Institutional Investors Weigh In On LivaNova

Several large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets raised its holdings in shares of LivaNova by 88.6% in the 1st quarter. BNP Paribas Financial Markets now owns 42,121 shares of the company's stock valued at $2,356,000 after acquiring an additional 19,783 shares in the last quarter. Driehaus Capital Management LLC raised its stake in LivaNova by 64.7% in the second 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 in the last quarter. Perceptive Advisors LLC lifted its position in LivaNova by 48.5% during the second quarter. Perceptive Advisors LLC now owns 444,000 shares of the company's stock valued at $24,340,000 after purchasing an additional 145,000 shares during the last quarter. Great Lakes Advisors LLC purchased a new position in LivaNova in the 2nd quarter worth approximately $16,614,000. Finally, Quantbot Technologies LP bought a new position in shares of LivaNova in the 1st quarter worth $994,000. Institutional investors own 97.64% of the company's stock.

About LivaNova

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.