LivaNova PLC (NASDAQ:LIVN) director Daniel Jeffrey Moore has sold a total of 56,623 LivaNova ordinary shares, according to the company's latest SEC filing. The transactions, which took place on June 3, 2024, amounted to over $3.4 million, with individual share prices ranging from $60.075 to $61.086.
The sales were executed in multiple transactions, with prices for the bulk of the shares, specifically 54,578 shares, averaging $60.075 each. A smaller batch of 2,045 shares was sold at an average price of $61.086. These sales are part of a pre-arranged trading plan under Rule 10b5-1, which allows insiders to sell shares at predetermined times to avoid accusations of insider trading.
In addition to the sales, Moore also exercised options to purchase 56,623 ordinary shares of LivaNova at a price of $57.39 per share, totaling approximately $3.25 million. This transaction was also conducted under the same Rule 10b5-1 plan and represents a strategic move within Moore's investment portfolio in the company.
Following these transactions, Moore's ownership in LivaNova has adjusted, but he remains a significant holder of the company's shares. LivaNova, known for its specialization in electromedical and electrotherapeutic apparatus, continues to be a key player in the medical technology industry.
Investors and market watchers often look to insider trading patterns for signals about a company's future performance, although such transactions do not always indicate the company's operational health or future stock movement. The disclosed transactions provide transparency and continue to be a regular part of corporate governance.
For additional details on the transactions, including the exact number of shares sold at each separate price within the reported ranges, LivaNova PLC and the SEC staff have offered to provide information upon request, as per the SEC filing footnotes. Daniel Moore's latest moves in the stock market will undoubtedly be of interest to current and potential investors of LivaNova PLC.
In other recent news, LivaNova, a medical device company, has seen a significant increase in its performances in recent developments. The firm's first-quarter performance exceeded expectations, primarily driven by robust sales in its cardiopulmonary division. This success resulted in a year-over-year constant currency growth ranging from 11% to 28% in the United States and international markets. LivaNova's adjusted operating margin also surpassed projections, clocking in at 18%, a development attributed to manufacturing investments' returns and cost savings from the Advanced Circulatory Support business's wind-down.
Following these results, LivaNova updated its full-year 2024 guidance, anticipating a top-line constant currency growth of 8-9% year-over-year. Additionally, an adjusted earnings per share in the range of $3.05 to $3.15 is expected, marking an increase from the earlier estimate. Mizuho Securities has recognized this positive trend, raising the stock price target to $80 and maintaining a Buy rating on the stock.
Furthermore, LivaNova reported a 12% increase in revenue year-over-year for Q1 2024, with the Essenz heart-lung machine contributing significantly to this growth. The company has also appointed Ahmet Tezel as Chief Innovation Officer, signaling its commitment to innovation. Despite a decline in adjusted free cash flow, LivaNova remains optimistic about its continued growth trajectory.
InvestingPro Insights
As Daniel Jeffrey Moore adjusts his holdings in LivaNova PLC (NASDAQ:LIVN), the company's financial metrics and analyst insights provide a broader context for investors. According to real-time data from InvestingPro, LivaNova boasts a market capitalization of $3.24 billion, with a forward-looking P/E Ratio (Adjusted) for the last twelve months as of Q1 2024 at 27.14. This valuation comes during a period where revenue growth has been robust, showing a 13.4% increase over the last twelve months leading to Q1 2024.
Despite not paying dividends, LivaNova has demonstrated strong returns, with a notable 39.24% price uptick over the last six months and a 30.56% return over the past year, reflecting investor confidence in the company's performance. This is in line with an InvestingPro Tip that highlights the strong return over the last three months, suggesting a positive investor sentiment.
Another InvestingPro Tip indicates that analysts are expecting LivaNova to be profitable this year, which could be a pivotal factor for potential investors considering the company's recent trading at a high EBITDA valuation multiple. With the next earnings date set for July 31, 2024, market participants will be keen to see if these projections hold true.
Investors looking for a deeper dive into LivaNova's financials and stock performance can explore additional insights on InvestingPro. There are currently 11 more InvestingPro Tips available for LivaNova, which can be accessed at https://www.investing.com/pro/LIVN. For those interested in a comprehensive analysis, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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