Livanova (LIVN) PT Raised to $104 at Needham & Company

Needham & Company raised its price target on Livanova (NASDAQ: LIVN) to $104.00 (from $97.00) while maintaining a Buy rating.

Analyst Mike Matson commented, "LIVN beat consensus revenue and EPS in 4Q17. Management provided 2018 revenue and adjusted EPS guidance that were both above consensus. Neuromodulation growth accelerated due to the SenTiva launch and increased use in pediatric patients while Cardiac Surgery growth accelerated due to additional S3 to S5 upgrades and strong Perceval growth. Gross margin was down 30 bps Y/Y while operating margin was down 190 bps Y/Y but above consensus. We believe LIVN's new products, recent acquisitions, and conservative guidance should enable it to continue to deliver upside to consensus and we reiterate our Buy rating and raise are price target to $104 from $97."

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