Initiating Coverage of LivaNova With Narrow Moat and Stable Trend Ratings; FVE $87
We are initiating coverage of LivaNova, a U.K.-based medical technology company, with narrow moat and stable trend ratings. We estimate fair value at $87 per share, which puts shares it in 3-star territory and values the business at a multiple of 24.5 times and 15.5 times our estimate of 2018 earnings and EBITDA, respectively.Formed through the 2015 merger of Cyberonics and Sorin, LivaNova benefits from the narrow-moat intangible assets built at each of the two precursor firms. While the early ...
LivaNova is a medical device company focused on the development and delivery of therapeutic solutions. Co. has three product franchises: Neuromodulation, which engaged in the design, development and marketing of neuromodulation therapy for the treatment of drug-resistant epilepsy and treatment resistant depression; Cardiac Surgery, which engaged in the development, production and sale of cardiovascular surgery products; and Cardiac Rhythm Management, which engaged in the development, manufacturing and marketing of products for the diagnosis, treatment, and management of heart rhythm disorders and heart failure.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.