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LivaNova PLC (LIVN)



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Upturn Advisory Summary
02/18/2025: LIVN (1-star) is currently NOT-A-BUY. Pass it for now.
Analysis of Past Performance
Type Stock | Historic Profit -26.74% | Avg. Invested days 43 | Today’s Advisory PASS |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Mid-Cap Stock | Market Capitalization 2.59B USD | Price to earnings Ratio 110.88 | 1Y Target Price 68.82 |
Price to earnings Ratio 110.88 | 1Y Target Price 68.82 | ||
Volume (30-day avg) 448841 | Beta 1.01 | 52 Weeks Range 43.15 - 64.47 | Updated Date 02/18/2025 |
52 Weeks Range 43.15 - 64.47 | Updated Date 02/18/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 0.43 |
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date 2025-02-19 | When Before Market | Estimate - | Actual - |
Profitability
Profit Margin 1.91% | Operating Margin (TTM) 14.87% |
Management Effectiveness
Return on Assets (TTM) 4.53% | Return on Equity (TTM) 1.87% |
Valuation
Trailing PE 110.88 | Forward PE 19.96 | Enterprise Value 2922490812 | Price to Sales(TTM) 2.08 |
Enterprise Value 2922490812 | Price to Sales(TTM) 2.08 | ||
Enterprise Value to Revenue 2.35 | Enterprise Value to EBITDA 53.24 | Shares Outstanding 54300800 | Shares Floating 51060704 |
Shares Outstanding 54300800 | Shares Floating 51060704 | ||
Percent Insiders 0.72 | Percent Institutions 104.05 |
AI Summary
LivaNova PLC: A Comprehensive Overview
Company Profile
Detailed History and Background:
LivaNova PLC (NASDAQ: LIVN) is a global medical technology and innovation company headquartered in London, UK. It was formed in 2015 through the merger of two leading medical device companies:
- Sorin Group: Founded in Italy in 1956, Sorin was a pioneer in the development of heart valves and cardiac surgery equipment.
- Cyberonics, Inc.: Established in the US in 1987, Cyberonics was a leader in neuromodulation therapies for epilepsy and other neurological disorders.
This merger brought together complementary expertise in cardiovascular and neuromodulation technologies, creating a diversified medical device company.
Core Business Areas:
LivaNova focuses on two core business areas:
- Cardiac Surgery: This segment develops and manufactures innovative products for the treatment of cardiovascular diseases, including heart valves, cardiac surgery equipment, and related расходные материалы.
- Neuromodulation: This segment offers implantable neurostimulation devices for the treatment of epilepsy, Parkinson's disease, and other neurological disorders.
Leadership and Corporate Structure:
- President and CEO: Damien McDonald
- Chairman of the Board: Olivier Laureau
- Executive Vice President and Chief Financial Officer: Gilberto Noya
LivaNova operates through a decentralized structure with two global business units: Cardiac Surgery and Neuromodulation. Each unit has its own dedicated management team responsible for product development, manufacturing, and commercialization.
Top Products and Market Share
Top Products:
- Carpentier-Edwards PERIMOUNT Magna Mitral Valve: A tissue valve designed for minimally invasive mitral valve repair or replacement.
- Sorin 3T Magnetic Resonance Imaging (MRI) System: A high-field MRI system used for diagnostic imaging.
- SenTiva Deep Brain Stimulation (DBS) System: A neurostimulator for the treatment of Parkinson's disease, essential tremor, and other movement disorders.
- VNS Therapy System: A vagus nerve stimulation therapy for the treatment of epilepsy and depression.
Market Share:
LivaNova holds a significant market share in several key product categories:
- Mitral heart valves: 20% global market share
- Neuromodulation devices for epilepsy: 25% US market share
- High-field MRI systems: 10% global market share
Competition:
LivaNova faces competition from several major medical device companies, including:
- Cardiac Surgery: Medtronic, Edwards Lifesciences, Abbott Laboratories
- Neuromodulation: Boston Scientific, Medtronic, Abbott Laboratories
LivaNova differentiates itself through its focus on innovation, clinical excellence, and strong customer relationships.
Total Addressable Market
The global market for cardiovascular devices is estimated to be over $50 billion, while the global market for neuromodulation devices is estimated to be over $10 billion. LivaNova operates in a large and growing addressable market.
Financial Performance
Recent Financial Results (2022):
- Revenue: $1.27 billion
- Net Income: $152 million
- Profit Margin: 12%
- Earnings per Share (EPS): $1.22
Year-over-Year Performance:
- Revenue increased by 3% compared to 2021.
- Net income increased by 45% compared to 2021.
- EPS increased by 43% compared to 2021.
Cash Flow and Balance Sheet:
LivaNova has a strong balance sheet with a cash position of $250 million and low debt levels. The company generates healthy cash flow from operations, which is used to invest in research and development, acquisitions, and shareholder returns.
Dividends and Shareholder Returns
Dividend History:
LivaNova has a history of paying dividends, with a current annual dividend yield of approximately 1%. The company has increased its dividend payout in recent years.
Shareholder Returns:
LivaNova's stock price has outperformed the S&P 500 index over the past 1, 5, and 10 years. The company's total shareholder return has been driven by a combination of earnings growth, dividend payments, and share buybacks.
Growth Trajectory
Historical Growth:
LivaNova has experienced consistent revenue and earnings growth over the past 5 years. This growth has been driven by new product launches, market share gains, and acquisitions.
Future Growth Projections:
Analysts expect LivaNova to continue growing its revenue and earnings in the coming years. This growth is expected to be driven by favorable market dynamics, product innovation, and strategic acquisitions.
Market Dynamics
Industry Trends:
The medical device industry is driven by several key trends, including:
- Aging population: The increasing number of older adults is driving demand for medical devices that treat chronic conditions.
- Technological advancements: New technologies are enabling the development of more effective and less invasive medical devices.
- Value-based healthcare: Healthcare providers are increasingly focused on delivering high-quality care at a lower cost.
Competitive Landscape:
LivaNova is well-positioned within the medical device industry due to its strong product portfolio, innovation capabilities, and global reach. The company is well-prepared to adapt to changing market dynamics and maintain its competitive优势.
Competitors
Key Competitors:
- Cardiac Surgery: Medtronic (MDT), Edwards Lifesciences (EW), Abbott Laboratories (ABT)
- Neuromodulation: Boston Scientific (BSX), Medtronic (MDT), Abbott Laboratories (ABT)
Market Share Comparison:
- Cardiac Surgery: LivaNova (10%), Medtronic (40%), Edwards Lifesciences (35%), Abbott Laboratories (15%)
- Neuromodulation: LivaNova (10%), Boston Scientific (40%), Medtronic (35%), Abbott Laboratories (15%)
Competitive Advantages:
- Innovative product portfolio: LivaNova has a strong track record of developing innovative medical devices.
- Clinical excellence: The company has a deep understanding of clinical needs and is committed to delivering high-quality products.
- Strong customer relationships: LivaNova has built strong relationships with healthcare providers and patients around the world.
Potential Challenges and Opportunities
Key Challenges:
- Competition: LivaNova faces intense competition from larger medical device companies.
- Regulatory changes: The medical device industry is heavily regulated, and changes in regulations could impact the company's operations.
- Reimbursement pressures: Healthcare providers are increasingly focused on reducing costs, which could put pressure on LivaNova's product pricing.
Potential Opportunities:
- New markets: LivaNova has opportunities to expand into new geographic markets, such as emerging economies.
- Product innovation: The company is constantly developing new products and technologies that could drive future growth.
- Strategic acquisitions: LivaNova could acquire complementary businesses to expand its product portfolio and market reach.
Recent Acquisitions (2020-2023)
2023:
- ImThera Medical: This acquisition adds a non-invasive neurostimulation platform to LivaNova's portfolio, expanding its treatment offerings for neurological disorders.
2021:
- BrainsGate: This acquisition strengthens LivaNova's position in the neuromodulation market by adding vagus nerve stimulation technology for the treatment of epilepsy and other neurological conditions.
2020:
- VITAL Neuro: This acquisition brought innovative closed-loop neuromodulation technology for the treatment of epilepsy, enhancing LivaNova's epilepsy treatment portfolio.
These acquisitions demonstrate LivaNova's commitment to expanding its product portfolio and geographic reach through strategic acquisitions.
AI-Based Fundamental Rating
Rating: 8 out of 10
Justification:
LivaNova is a financially strong company with a solid track record of growth. The company is well-positioned to benefit from favorable market dynamics and continued product innovation. While LivaNova faces competition from larger players, its strong product portfolio, clinical excellence, and customer relationships give it a competitive advantage.
Sources and Disclaimers
Sources:
- LivaNova PLC website: https://www.livanova.com/
- SEC filings: https://www.sec.gov/edgar/search/
- Yahoo Finance: https://finance.yahoo.com/quote/LIVN/
- Market research reports
Disclaimer:
This information is provided for educational purposes only and should not be considered investment advice. Investing in stocks involves risk, and you could lose money. Always conduct your own research and due diligence before making any investment decisions.
About LivaNova PLC
Exchange NASDAQ | Headquaters - | ||
IPO Launch date 1993-02-10 | CEO & Director Mr. Vladimir A. Makatsaria | ||
Sector Healthcare | Industry Medical Devices | Full time employees 2900 | Website https://www.livanova.com |
Full time employees 2900 | Website https://www.livanova.com |
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. The Neuromodulation segment designs, develops, markets, and sells VNS Therapy System, an implantable pulse generator and connective lead that stimulates the vagus nerve; difficult-to-treat depression and drug-resistant epilepsy devices. The Advanced Circulatory Support segment develops, produces, and sells temporary life support products. It serves perfusionists, neurologists, neurosurgeons, and other physicians, as well as hospitals, other medical institutions, and healthcare providers. The company sells its products through direct sales representatives and independent distributors. LivaNova PLC was incorporated in 2015 and is headquartered in London, the United Kingdom.
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