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LivaNova PLC
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🏹 Trader: 🎯 Near 52W High | BRS 74 Forming View all →
$4.3B
Market Cap
37.2
P/E
3.82
PEG
16.5%
ROCE
43.8%
ROE
0.27
D/E
14.1%
OPM
-8.1%
% from 52W High
79
α RS
🔍 LIVN is showing a multi-screen setup because it matches 11 of 39 tracked screener presets, Sector RRG has Health Care in the Leading quadrant with the trail still strengthening, RS Rating is 79, and it has maintained a 28-day Near 52-Week High momentum persistence. Net: Broad signal stack, not a recommendation. ? Conviction RRG RS Rating Momentum Streaks
Sources
Conviction 11/39 · Health Care in Leading quadrant · RS Rating 79 · Near 52-Week High streak: 28d
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Currency-adjusted total returns for LIVN including FX impact
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📈 Price History
Ratio Health
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About

LivaNova PLC, a medical technology company, designs, develops, manufactures, markets, and sells products, therapies, and services. The company operates in two segments, Cardiopulmonary and Neuromodulation. The Cardiopulmonary segment provides cardiopulmonary products, including heart-lung machines, oxygenators, autotransfusion systems, perfusion tubing systems, cannula, and other related accessories, as well as services related products. The Neuromodulation segment offers VNS Therapy System, an implantable pulse generator and connective lead that stimulates the vagus nerve, surgical equipment to assist with the implant procedure, and equipment and instruction manuals; and devices that deliver neuromodulation therapy for treating drug-resistant epilepsy and depression. This segment also includes the development and clinical testing of aura6000 system for treating obstructive sleep apnea. It serves perfusionists, neurologists, neurosurgeons, hospitals, other healthcare professionals and medical institutions, and healthcare providers. The company sells its medical devices through direct sales representatives, agents, and independent distributors in the United States, the United Kingdom, Germany, France, Italy, the Netherlands, Spain, Belgium, Poland, Sweden, Switzerland, Austria, Norway, Portugal, Finland, Denmark, and internationally. LivaNova PLC was incorporated in 2015 and is headquartered in Gloucester, the United Kingdom.

Key Ratios Snapshot
📈 Growth Pattern
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⭐ Superinvestors Holding LIVN
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Manager Shares Value % of Fund Period
Jim Simons Renaissance Technologies LLC 183.0K $11.6M 0.02% Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

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📊 MIXED LivaNova Q1 2026 revenue $362M, +11%; raises FY guide to 7-8% growth; gains FDA approval for aura6000 OSA system.
Revenue & Profitability
First quarter 2026 revenue was $362 million, an increase of 11% on a constant currency basis. Cardiopulmonary revenue grew 14% to $209 million, and epilepsy revenue grew 8%. Adjusted gross margin was 68%, adjusted operating income was $71 million (20% margin), and adjusted diluted EPS was $0.98. Full-year 2026 guidance: revenue growth of 7%-8% constant currency, adjusted EPS of $4.20-$4.30, and adjusted free cash flow of $160-$180 million.
Outlook
Management views the obstructive sleep apnea market as very attractive, with up to 1 million CPAP dropout patients annually and less than 5% HGNS penetration; current HGNS reimbursement challenges are considered temporary. The cardiopulmonary market has demand exceeding supply for oxygenators. In epilepsy, there are approximately 1 million drug-resistant epilepsy patients in the U.S., of whom fewer than 10% receive advanced treatment. Headwinds include an estimated $5 million impact from the Middle East conflict on operating income and less than $5 million from tariffs.
Growth Drivers
Key growth levers: the Essenz upgrade cycle (expected to represent 80% of HLM unit placements in 2026, up from 55% in 2025) and market share gains in cardiopulmonary consumables, with oxygenator capacity expanding 60% by 2030. In epilepsy, growth is driven by improved U.S. Medicare reimbursement (hospital outpatient payments up ~48%) and positive reception of CORE-VNS clinical data, leading to reduced volume discounting and a strengthening patient funnel. OSA entry in 2027 is a future driver.
Balance Sheet & CapEx
Capital spending guidance for full-year 2026 is $120 million, a $40 million increase versus 2025, supporting cardiopulmonary capacity expansion, next-generation oxygenator manufacturing scale-up, and IT infrastructure. In Q1 2026, capital spend was $14 million, up from $11 million in Q1 2025. A new manufacturing line for oxygenators is scheduled to go live in the second half of 2026, enabling a low double-digit increase in manufacturing output.
Margins
Adjusted gross margin was 68% in Q1 2026, down from 69% in Q1 2025, due to unfavorable currency and product mix. Adjusted operating income margin was 20%, generally in line with the prior year, as higher revenue and operating leverage offset increased OSA R&D investment and unfavorable FX. Full-year 2026 adjusted operating margin is expected between 20% and 21%, with EPS growth roughly in line with revenue.
Key Risks
Risks flagged include: temporary challenges in the HGNS market related to coding and reimbursement ambiguity; the impact of the Middle East conflict (estimated $5 million on operating income from higher shipping, logistics, and fuel costs); tariff net impact of less than $5 million; foreign exchange fluctuations; and dependence on third-party suppliers for component availability limiting oxygenator output. The company also noted that the Wisr program in six states has had no material impact on VNS therapy so far.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-08-05
Record quarterly revenue and EPS were achieved, driven by strong Cardiopulmonary and Epilepsy growth, leading to raised 2026 revenue and EPS guidance. Strategic investments in manufacturing and digital health are expected to support long-term growth, while a new supply agreement removes key constraints.
Q1 2026 Q1 2026 2026-05-06
Q1 2026 saw 11% revenue growth, driven by strong cardiopulmonary and epilepsy performance, with upgraded full-year guidance reflecting robust demand and key regulatory milestones in OSA. Adjusted EPS and revenue outlooks were raised, and capital investments continue to support expansion.
Q4 2025 Q4 2025 2026-02-25
Double-digit revenue and EPS growth in 2025 were driven by strong cardiopulmonary and epilepsy performance, margin expansion, and robust cash generation. 2026 guidance calls for 6%-7% revenue growth, continued innovation investment, and improved reimbursement supporting epilepsy growth.
Q3 2025 Q3 2025 2025-11-05
Delivered 13% organic revenue growth, margin expansion, and strong cash generation, led by cardiopulmonary and epilepsy segments. Raised 2025 guidance for revenue, EPS, and free cash flow, with major growth expected from ESSENCE in China and ongoing innovation investments.
Q2 2025 Q2 2025 2025-08-06
Delivered 10% organic revenue growth and expanded operating margin, driven by strong cardiopulmonary and neuromodulation performance. Raised 2025 guidance for revenue, EPS, and free cash flow, with key clinical and regulatory milestones supporting future growth.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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