While Pipeline Delays Are Disappointing, We Think LivaNova's Narrow Moat Remains Intact
LivaNova reported a disappointing end to 2018. Delays in the product pipeline, a sizable litigation reserve, and a softer-than-expected 2019 outlook combined to drive shares down by a mid-single-digit percentage Feb. 27. While investors are likely frustrated with unexpected hiccups following otherwise solid results to date, we think the underlying growth drivers for this narrow-moat business remain intact. Specifically, the cardiopulmonary and neuromodulation segments continued to put up solid p...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.
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