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LivaNova is the surviving entity resulting from the combination of Houston-based Cyberonics and Italy’s Sorin that closed in late 2015. While the firm has only operated for a little over three years, we’ve seen substantial changes to the strategic profile of the business, catalyzed by an change in management shortly after the merger's completion. CEO Damien McDonald has been effective in consolidating LivaNova’s focus on developing new technologies targeting the patients’ head and heart, making…

Narrow-moat LivaNova reported first-quarter results that were consistent with revenue figures released in early April. We initially lowered our fair value for the firm slightly to incorporate weakness in the firm's U.S. neuromodulation segment. However, we'll likely revise our $90 fair value estimate lower by another mid-single-digit percentage now that we have a better understanding of the underlying competitive dynamics, an estimate of how long it might take for the business to get back on…

Narrow-moat LivaNova pre-announced first-quarter sales performance that fell well below our and consensus expectations. While reported quarterly revenue is expected to come in flat versus the prior year, sizable currency headwinds depressed otherwise acceptable performance that clocked in at 4% in constant currency. The press release indicated management is assessing its full-year outlook, and we'll have a better understanding of some of the underlying dynamics when more comprehensive results…

United States

LivaNova PLC operates as a medical technology company. The Company focuses on neuromodulation, as well as cardiac surgery and rhythm management. LivaNova develops medical solutions for the treatment of cardiovascular diseases.

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