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LivaNova PLC - Stock Quote LIVN

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Morningstar's LivaNova PLC Stock Analysis

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LivaNova Delivers Solid Q1 Results as Neuromodulation Volume Picks Up; No Change to Our FVE

Debbie S. Wang Senior Equity Analyst

Analyst Note

| Debbie S. Wang |

LivaNova posted first-quarter results that reflected the shifting dynamics of the pandemic, but as there were few surprises in the quarter, we’re leaving our fair value estimate unchanged. We remain confident in LivaNova’s narrow economic moat, which is almost wholly driven by its neuromodulation segment and well-established footprint in drug-resistant epilepsy, where switching costs and the body of clinical evidence have kept practitioners as well as patients in the fold.

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LivaNova PLC's Company Profile

Business Description

U.K.-based LivaNova was born of a combination between Cyberonics in the U.S. and Sorin in Italy. The medical device firm is primarily focused on cardiovascular and cardiopulmonary solutions (with surgical heart valves, 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 segment. LivaNova derives roughly half of its revenue from the U.S. market, another 21% from Europe, and the remainder from the rest of the world.

20 Eastbourne Terrace
London, W2 6LG, United Kingdom
T +44 2033250660
Sector Healthcare
Industry Medical Devices
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2021
Stock Type
Employees 3,000