Is LivaNova PLC (LIVN) a Good Value Stock?
The London Company, an investment management company, released “The London Company Small Cap Strategy” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund returned 7.7% gross (7.5% net), compared to a 2.7% return for the Russell 2000 Index. The portfolio reported strong relative and absolute returns in the quarter that exceeded expectations. The outperformance of the fund in the quarter was due to strong stock selection and limited exposure to banks. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
The London Company Small Cap Strategy highlighted stocks like LivaNova PLC (NASDAQ:LIVN) in the first quarter 2023 investor letter. Headquartered in London, the United Kingdom, LivaNova PLC (NASDAQ:LIVN) is a medical device company. On June 30, 2023, LivaNova PLC (NASDAQ:LIVN) stock closed at $51.43 per share. One-month return of LivaNova PLC (NASDAQ:LIVN) was 9.78%, and its shares lost 18.75% of their value over the last 52 weeks. LivaNova PLC (NASDAQ:LIVN) has a market capitalization of $2.765 billion.
The London Company Small Cap Strategy made the following comment about LivaNova PLC (NASDAQ:LIVN) in its first quarter 2023 investor letter:
"LivaNova PLC (NASDAQ:LIVN) - LIVN underperformed in Q1 following a disappointing 4Q22 earnings update. Headline numbers were above expectations, but the company noted weaker than expected trends in new patient implants of the vagus nerve stimulator for epilepsy. Additionally, pipeline news was negative as LIVN announced plans to wind down the trial studying vagus nerve stimulation for heart failure due to futility. Overall, the news flow in the quarter was more negative than positive, but we continue to believe the market is undervaluing the core business, and we note that management has improved execution over the past few years."
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LivaNova PLC (NASDAQ:LIVN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 33 hedge fund portfolios held LivaNova PLC (NASDAQ:LIVN) at the end of first quarter 2023 which was 30 in the previous quarter.
We discussed LivaNova PLC (NASDAQ:LIVN) in another article and shared stock picks of David Einhorn’s 2023 portfolio. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
