LivaNova Shares Move Higher On Street-Beating Q3 Earnings

  • LivaNova PLC LIVN posted Q3 sales of $253.2 million, +5.5% Y/Y on a reported basis and 5% on a constant-currency basis, beating the consensus of $245.27 million.
  • Excluding Heart Valves business, divested in June, sales increased by 15.7% on a reported basis and 15.2% on a constant currency.
  • Sales in Cardiopulmonary products were $123.2 million, +14.5% primarily related to growth in oxygenator and heart-lung machine sales.
  • Neuromodulation sales were $113.3 million, up 14.6%, reflecting improved market dynamics across all regions.
  • Q3 adjusted EPS reached $0.68 up from $0.38 posted a year ago, easily surpassing the consensus of $0.44.
  • “Our third-quarter performance demonstrates a continued focus on execution across all regions in our key product lines amidst lingering COVID-19-related headwinds,” said CEO Damien McDonald.
  • Guidance: LivaNova raised its FY21 guidance and said it expects sales growth of 8% - 11%, compared to earlier guidance of 5% - 10%.
  • The Company expects adjusted EPS of $2.00 - $2.10, higher than prior guidance of $1.60 - $1.90.
  • Price Action: LIVN shares are up 14% at $89.16 during the market session on the last check Wednesday.

Posted In: Briefswhy it's movingEarningsLong IdeasNewsGuidanceHealth CareMoversTrading IdeasGeneral

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.