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Also traded in: Delisted, Germany, UK

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 7/10

vs
industry
vs
history
Cash-to-Debt 0.29
LIVN's Cash-to-Debt is ranked lower than
70% of the 330 Companies
in the Global Medical Devices industry.

( Industry Median: 2.32 vs. LIVN: 0.29 )
Ranked among companies with meaningful Cash-to-Debt only.
LIVN' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.29  Med: 19.35 Max: 25573
Current: 0.29
0.29
25573
Equity-to-Asset 0.69
LIVN's Equity-to-Asset is ranked higher than
68% of the 309 Companies
in the Global Medical Devices industry.

( Industry Median: 0.63 vs. LIVN: 0.69 )
Ranked among companies with meaningful Equity-to-Asset only.
LIVN' s Equity-to-Asset Range Over the Past 10 Years
Min: -0.14  Med: 0.78 Max: 0.96
Current: 0.69
-0.14
0.96
Debt-to-Equity 0.09
LIVN's Debt-to-Equity is ranked higher than
78% of the 220 Companies
in the Global Medical Devices industry.

( Industry Median: 0.30 vs. LIVN: 0.09 )
Ranked among companies with meaningful Debt-to-Equity only.
LIVN' s Debt-to-Equity Range Over the Past 10 Years
Min: -25.42  Med: 0.07 Max: 42.96
Current: 0.09
-25.42
42.96
Debt-to-EBITDA 1.00
LIVN's Debt-to-EBITDA is ranked higher than
75% of the 158 Companies
in the Global Medical Devices industry.

( Industry Median: 1.98 vs. LIVN: 1.00 )
Ranked among companies with meaningful Debt-to-EBITDA only.
LIVN' s Debt-to-EBITDA Range Over the Past 10 Years
Min: -29.28  Med: 0.53 Max: 1.89
Current: 1
-29.28
1.89
Interest Coverage 11.69
LIVN's Interest Coverage is ranked lower than
72% of the 212 Companies
in the Global Medical Devices industry.

( Industry Median: 66.37 vs. LIVN: 11.69 )
Ranked among companies with meaningful Interest Coverage only.
LIVN' s Interest Coverage Range Over the Past 10 Years
Min: 5.59  Med: 123.59 Max: 4635.43
Current: 11.69
5.59
4635.43
Piotroski F-Score: 5
Altman Z-Score: 4.92
Beneish M-Score: -2.81
WACC vs ROIC
5.80%
2.31%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 8/10

vs
industry
vs
history
Operating Margin % 11.31
LIVN's Operating Margin % is ranked higher than
68% of the 312 Companies
in the Global Medical Devices industry.

( Industry Median: 1.96 vs. LIVN: 11.31 )
Ranked among companies with meaningful Operating Margin % only.
LIVN' s Operating Margin % Range Over the Past 10 Years
Min: -6.79  Med: 23.9 Max: 33.39
Current: 11.31
-6.79
33.39
Net Margin % -5.96
LIVN's Net Margin % is ranked lower than
56% of the 312 Companies
in the Global Medical Devices industry.

( Industry Median: 1.40 vs. LIVN: -5.96 )
Ranked among companies with meaningful Net Margin % only.
LIVN' s Net Margin % Range Over the Past 10 Years
Min: -8.53  Med: 18.42 Max: 46.76
Current: -5.96
-8.53
46.76
ROE % -3.03
LIVN's ROE % is ranked lower than
54% of the 304 Companies
in the Global Medical Devices industry.

( Industry Median: 0.95 vs. LIVN: -3.03 )
Ranked among companies with meaningful ROE % only.
LIVN' s ROE % Range Over the Past 10 Years
Min: -6.33  Med: 22.45 Max: 581.59
Current: -3.03
-6.33
581.59
ROA % -2.14
LIVN's ROA % is ranked lower than
52% of the 332 Companies
in the Global Medical Devices industry.

( Industry Median: -0.26 vs. LIVN: -2.14 )
Ranked among companies with meaningful ROA % only.
LIVN' s ROA % Range Over the Past 10 Years
Min: -7.55  Med: 19.22 Max: 58.59
Current: -2.14
-7.55
58.59
ROC (Joel Greenblatt) % 15.38
LIVN's ROC (Joel Greenblatt) % is ranked higher than
70% of the 327 Companies
in the Global Medical Devices industry.

( Industry Median: 3.87 vs. LIVN: 15.38 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
LIVN' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -31.69  Med: 100.63 Max: 122.23
Current: 15.38
-31.69
122.23
3-Year Revenue Growth Rate 26.40
LIVN's 3-Year Revenue Growth Rate is ranked higher than
92% of the 254 Companies
in the Global Medical Devices industry.

( Industry Median: 4.30 vs. LIVN: 26.40 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
LIVN' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: 0  Med: 14.75 Max: 183.9
Current: 26.4
0
183.9
3-Year EBITDA Growth Rate 11.90
LIVN's 3-Year EBITDA Growth Rate is ranked higher than
57% of the 232 Companies
in the Global Medical Devices industry.

( Industry Median: 7.50 vs. LIVN: 11.90 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
LIVN' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: 0  Med: -7.4 Max: 38.8
Current: 11.9
0
38.8
3-Year EPS without NRI Growth Rate -17.60
LIVN's 3-Year EPS without NRI Growth Rate is ranked lower than
79% of the 223 Companies
in the Global Medical Devices industry.

( Industry Median: 7.80 vs. LIVN: -17.60 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
LIVN' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: 0  Med: -17.65 Max: 38.2
Current: -17.6
0
38.2
GuruFocus has detected 5 Warning Signs with LivaNova PLC LIVN.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» LIVN's 30-Y Financials

Financials (Next Earnings Date: 2018-11-02)


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q3 2017

LIVN Guru Trades in Q3 2017

NWQ Managers 500,594 sh (+71.24%)
Ken Fisher 197,000 sh (+20.86%)
Steven Cohen 200,000 sh (unchged)
Martin Whitman 426,400 sh (unchged)
Steven Cohen 607,900 sh (-10.36%)
Paul Tudor Jones 13,018 sh (-19.41%)
Columbia Wanger 1,495,534 sh (-25.32%)
Jim Simons 553,194 sh (-45.69%)
Third Avenue Management 219,422 sh (-57.86%)
» More
Q4 2017

LIVN Guru Trades in Q4 2017

Caxton Associates 10,054 sh (New)
George Soros 298,168 sh (New)
John Hussman 35,000 sh (New)
Pioneer Investments 8,400 sh (New)
Ken Fisher 197,000 sh (unchged)
Third Avenue Management Sold Out
Paul Tudor Jones Sold Out
Steven Cohen Sold Out
NWQ Managers 475,033 sh (-5.11%)
Jim Simons 342,519 sh (-38.08%)
Columbia Wanger 609,825 sh (-59.22%)
Martin Whitman 175,400 sh (-58.86%)
» More
Q1 2018

LIVN Guru Trades in Q1 2018

Paul Tudor Jones 11,599 sh (New)
Steven Cohen 520,813 sh (New)
Pioneer Investments 15,500 sh (+84.52%)
John Hussman 50,000 sh (+42.86%)
Caxton Associates Sold Out
Martin Whitman Sold Out
Jim Simons 335,994 sh (-1.91%)
NWQ Managers 419,394 sh (-11.71%)
Ken Fisher 163,000 sh (-17.26%)
George Soros 11,431 sh (-96.17%)
» More
Q2 2018

LIVN Guru Trades in Q2 2018

Jim Simons 371,094 sh (+10.45%)
Ken Fisher 163,000 sh (unchged)
George Soros Sold Out
Paul Tudor Jones Sold Out
Pioneer Investments 14,700 sh (-5.16%)
NWQ Managers 389,262 sh (-7.18%)
Steven Cohen 417,852 sh (-19.77%)
John Hussman 35,000 sh (-30.00%)
» More
» Details

Insider Trades

Latest Guru Trades with LIVN

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
NWQ Managers 2018-06-30 Reduce -7.18%0.04%$81.75 - $105.37 $ 124.7938%389,262
George Soros 2018-06-30 Sold Out 0.02%$81.75 - $105.37 $ 124.7938%0
NWQ Managers 2018-03-31 Reduce -11.71%0.06%$79.95 - $89.74 $ 124.7947%419,394
Ken Fisher 2018-03-31 Reduce -17.26%$79.95 - $89.74 $ 124.7947%163,000
George Soros 2018-03-31 Reduce -96.17%0.63%$79.95 - $89.74 $ 124.7947%11,431
Martin Whitman 2018-01-31 Sold Out 1.34%$73.18 - $88.21 $ 124.7951%0
NWQ Managers 2017-12-31 Reduce -5.11%0.03%$71.8 - $88.21 $ 124.7957%475,033
George Soros 2017-12-31 New Buy0.66%$71.8 - $88.21 $ 124.7957%298,168
Third Avenue Management 2017-12-31 Sold Out 0.69%$71.8 - $88.21 $ 124.7957%0
Martin Whitman 2017-10-31 Reduce -58.86%1.45%$60.32 - $75.4 $ 124.7985%175,400
NWQ Managers 2017-09-30 Add 71.24%0.21%$60.32 - $69.84 $ 124.7997%500,594
Third Avenue Management 2017-09-30 Reduce -57.86%0.82%$60.32 - $69.84 $ 124.7997%219,422
Ken Fisher 2017-09-30 Add 20.86%$60.32 - $69.84 $ 124.7997%197,000
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Business Description

Industry: Medical Devices » Medical Devices    NAICS: 339112    SIC: 3842
Compare:NYSE:PEN, OSTO:EKTA B, NAS:MASI, OCSE:GN, NAS:IART, OCSE:AMBU B, NYSE:GMED, NZSE:FPH, SZSE:002223, NAS:INGN, SZSE:300529, HKSE:01066, NAS:NUVA, LSE:CTEC, NYSE:NVRO, XSWX:TECN, SZSE:300633, TSE:6849, TSE:8086, TSE:7575 » details
Traded in other countries:CYBX.Delisted, LIA.Germany, 0ROE.UK,
Headquarter Location:UK
LivaNova PLC is a medical technology company formed by the merger of Sorin S.p.A, engaged in the treatment of cardiovascular diseases, and Cyberonics Inc., a medical device company with core expertise in neuromodulation.

LivaNova PLC manufactures and sells medical devices in three business units: neuromodulation, cardiac surgery, and cardiac rhythm management. The neuromodulation business generates the largest proportion of revenue. It sells devices used to treat epilepsy and depression. The cardiac surgery business sells cardiovascular surgery products, such as oxygenators, heart-lung machines, perfusion tubing sets, autotransfusion systems, and implantable prostheses to replace or repair heart valves. The cardiac rhythm management business sells products used to manage heart rhythm disorders and heart failure, including implantable pacemakers, defibrillators, and cardiac resynchronization therapy devices. The majority of LivaNova's revenue is generated in the United States.

Ratios

vs
industry
vs
history
Forward PE Ratio 30.21
LIVN's Forward PE Ratio is ranked higher than
52% of the 52 Companies
in the Global Medical Devices industry.

( Industry Median: 25.06 vs. LIVN: 30.21 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PE Ratio without NRI 189.08
LIVN's PE Ratio without NRI is ranked lower than
85% of the 179 Companies
in the Global Medical Devices industry.

( Industry Median: 30.17 vs. LIVN: 189.08 )
Ranked among companies with meaningful PE Ratio without NRI only.
LIVN' s PE Ratio without NRI Range Over the Past 10 Years
Min: 6.21  Med: 29.73 Max: 1641.33
Current: 189.08
6.21
1641.33
PB Ratio 3.39
LIVN's PB Ratio is ranked higher than
60% of the 310 Companies
in the Global Medical Devices industry.

( Industry Median: 3.06 vs. LIVN: 3.39 )
Ranked among companies with meaningful PB Ratio only.
LIVN' s PB Ratio Range Over the Past 10 Years
Min: 1.12  Med: 5.39 Max: 124.37
Current: 3.39
1.12
124.37
PS Ratio 6.56
LIVN's PS Ratio is ranked lower than
58% of the 294 Companies
in the Global Medical Devices industry.

( Industry Median: 3.15 vs. LIVN: 6.56 )
Ranked among companies with meaningful PS Ratio only.
LIVN' s PS Ratio Range Over the Past 10 Years
Min: 2.16  Med: 4.65 Max: 7.54
Current: 6.56
2.16
7.54
Price-to-Free-Cash-Flow 80.39
LIVN's Price-to-Free-Cash-Flow is ranked lower than
86% of the 107 Companies
in the Global Medical Devices industry.

( Industry Median: 26.44 vs. LIVN: 80.39 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
LIVN' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 9.94  Med: 22.62 Max: 146.71
Current: 80.39
9.94
146.71
Price-to-Operating-Cash-Flow 56.38
LIVN's Price-to-Operating-Cash-Flow is ranked lower than
83% of the 127 Companies
in the Global Medical Devices industry.

( Industry Median: 20.01 vs. LIVN: 56.38 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
LIVN' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 9.63  Med: 19.41 Max: 60.67
Current: 56.38
9.63
60.67
EV-to-EBIT 72.86
LIVN's EV-to-EBIT is ranked lower than
66% of the 174 Companies
in the Global Medical Devices industry.

( Industry Median: 24.76 vs. LIVN: 72.86 )
Ranked among companies with meaningful EV-to-EBIT only.
LIVN' s EV-to-EBIT Range Over the Past 10 Years
Min: -238.5  Med: 17.3 Max: 569.8
Current: 72.86
-238.5
569.8
EV-to-EBITDA 38.17
LIVN's EV-to-EBITDA is ranked lower than
54% of the 188 Companies
in the Global Medical Devices industry.

( Industry Median: 18.14 vs. LIVN: 38.17 )
Ranked among companies with meaningful EV-to-EBITDA only.
LIVN' s EV-to-EBITDA Range Over the Past 10 Years
Min: -145.1  Med: 15.7 Max: 194.6
Current: 38.17
-145.1
194.6
EV-to-Revenue 6.63
LIVN's EV-to-Revenue is ranked lower than
56% of the 309 Companies
in the Global Medical Devices industry.

( Industry Median: 3.73 vs. LIVN: 6.63 )
Ranked among companies with meaningful EV-to-Revenue only.
LIVN' s EV-to-Revenue Range Over the Past 10 Years
Min: 2.3  Med: 4.5 Max: 7.8
Current: 6.63
2.3
7.8
PEG Ratio 21.55
LIVN's PEG Ratio is ranked lower than
81% of the 77 Companies
in the Global Medical Devices industry.

( Industry Median: 2.53 vs. LIVN: 21.55 )
Ranked among companies with meaningful PEG Ratio only.
LIVN' s PEG Ratio Range Over the Past 10 Years
Min: 0.72  Med: 1.2 Max: 21.55
Current: 21.55
0.72
21.55
Shiller PE Ratio 115.21
LIVN's Shiller PE Ratio is ranked lower than
72% of the 58 Companies
in the Global Medical Devices industry.

( Industry Median: 49.95 vs. LIVN: 115.21 )
Ranked among companies with meaningful Shiller PE Ratio only.
LIVN' s Shiller PE Ratio Range Over the Past 10 Years
Min: 37.91  Med: 96.82 Max: 2247
Current: 115.21
37.91
2247
Current Ratio 1.51
LIVN's Current Ratio is ranked lower than
61% of the 324 Companies
in the Global Medical Devices industry.

( Industry Median: 2.71 vs. LIVN: 1.51 )
Ranked among companies with meaningful Current Ratio only.
LIVN' s Current Ratio Range Over the Past 10 Years
Min: 0.81  Med: 5.38 Max: 29.11
Current: 1.51
0.81
29.11
Quick Ratio 1.08
LIVN's Quick Ratio is ranked lower than
55% of the 324 Companies
in the Global Medical Devices industry.

( Industry Median: 2.03 vs. LIVN: 1.08 )
Ranked among companies with meaningful Quick Ratio only.
LIVN' s Quick Ratio Range Over the Past 10 Years
Min: 0.69  Med: 4.81 Max: 28.89
Current: 1.08
0.69
28.89
Days Inventory 200.04
LIVN's Days Inventory is ranked lower than
65% of the 294 Companies
in the Global Medical Devices industry.

( Industry Median: 143.61 vs. LIVN: 200.04 )
Ranked among companies with meaningful Days Inventory only.
LIVN' s Days Inventory Range Over the Past 10 Years
Min: 77.89  Med: 235.97 Max: 277.94
Current: 200.04
77.89
277.94
Days Sales Outstanding 102.56
LIVN's Days Sales Outstanding is ranked lower than
77% of the 276 Companies
in the Global Medical Devices industry.

( Industry Median: 69.21 vs. LIVN: 102.56 )
Ranked among companies with meaningful Days Sales Outstanding only.
LIVN' s Days Sales Outstanding Range Over the Past 10 Years
Min: 48.89  Med: 58.66 Max: 102.56
Current: 102.56
48.89
102.56
Days Payable 99.25
LIVN's Days Payable is ranked higher than
68% of the 261 Companies
in the Global Medical Devices industry.

( Industry Median: 58.34 vs. LIVN: 99.25 )
Ranked among companies with meaningful Days Payable only.
LIVN' s Days Payable Range Over the Past 10 Years
Min: 47.42  Med: 81.01 Max: 133.72
Current: 99.25
47.42
133.72

Buy Back

vs
industry
vs
history
3-Year Average Share Buyback Ratio -21.80
LIVN's 3-Year Average Share Buyback Ratio is ranked lower than
77% of the 244 Companies
in the Global Medical Devices industry.

( Industry Median: -5.70 vs. LIVN: -21.80 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
LIVN' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -22.4  Med: -4.3 Max: 1.9
Current: -21.8
-22.4
1.9

Valuation & Return

vs
industry
vs
history
Price-to-Tangible-Book 319.97
LIVN's Price-to-Tangible-Book is ranked lower than
70% of the 276 Companies
in the Global Medical Devices industry.

( Industry Median: 4.50 vs. LIVN: 319.97 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
LIVN' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 2  Med: 6.51 Max: 321.18
Current: 319.97
2
321.18
Price-to-Intrinsic-Value-Projected-FCF 3.08
LIVN's Price-to-Intrinsic-Value-Projected-FCF is ranked higher than
57% of the 121 Companies
in the Global Medical Devices industry.

( Industry Median: 2.44 vs. LIVN: 3.08 )
Ranked among companies with meaningful Price-to-Intrinsic-Value-Projected-FCF only.
LIVN' s Price-to-Intrinsic-Value-Projected-FCF Range Over the Past 10 Years
Min: 0.76  Med: 1.95 Max: 93.7
Current: 3.08
0.76
93.7
Price-to-Median-PS-Value 1.41
LIVN's Price-to-Median-PS-Value is ranked lower than
51% of the 237 Companies
in the Global Medical Devices industry.

( Industry Median: 1.02 vs. LIVN: 1.41 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
LIVN' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.51  Med: 1.16 Max: 78.94
Current: 1.41
0.51
78.94
Price-to-Graham-Number 52.00
LIVN's Price-to-Graham-Number is ranked lower than
83% of the 133 Companies
in the Global Medical Devices industry.

( Industry Median: 2.11 vs. LIVN: 52.00 )
Ranked among companies with meaningful Price-to-Graham-Number only.
LIVN' s Price-to-Graham-Number Range Over the Past 10 Years
Min: 1.13  Med: 2.96 Max: 52.19
Current: 52
1.13
52.19
Earnings Yield (Greenblatt) % 1.37
LIVN's Earnings Yield (Greenblatt) % is ranked higher than
66% of the 332 Companies
in the Global Medical Devices industry.

( Industry Median: 0.74 vs. LIVN: 1.37 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
LIVN' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: -11.1  Med: 5.4 Max: 9.3
Current: 1.37
-11.1
9.3
Forward Rate of Return (Yacktman) % -6.61
LIVN's Forward Rate of Return (Yacktman) % is ranked lower than
56% of the 125 Companies
in the Global Medical Devices industry.

( Industry Median: 6.60 vs. LIVN: -6.61 )
Ranked among companies with meaningful Forward Rate of Return (Yacktman) % only.
LIVN' s Forward Rate of Return (Yacktman) % Range Over the Past 10 Years
Min: -8  Med: 2.6 Max: 23.7
Current: -6.61
-8
23.7

More Statistics

Revenue (TTM) (Mil) $932.10
EPS (TTM) $ -1.17
Beta0.74
Volatility24.62%
52-Week Range $68.24 - 131.54
Shares Outstanding (Mil)48.59

Analyst Estimate

Dec18 Dec19 Dec20 Dec21
Revenue (Mil $) 1,115 1,206 1,258 1,313
EBIT (Mil $) 166 198 249 277
EBITDA (Mil $) 217 251 286 315
EPS ($) 2.08 2.73 3.16 3.78
EPS without NRI ($) 2.08 2.73 3.16 3.78
EPS Growth Rate
(Future 3Y To 5Y Estimate)
11.14%
Dividends per Share ($)

Piotroski F-Score Details

Piotroski F-Score: 55
Positive ROAN
Positive CFROAY
Higher ROA yoyN
CFROA > ROAY
Lower Leverage yoyY
Higher Current Ratio yoyN
Less Shares Outstanding yoyN
Higher Gross Margin yoyY
Higher Asset Turnover yoyY

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