LivaNova rises on Q2 results beat

Livanova

26/07/2023 15:06

** Share of medical device co LivaNova  LIVN.O  up 8.3% at
~$58
    ** Co reports Q2 adj. earnings per share of 78 cents,
beating analysts' ests of 54 cents, as per Refinitiv data 
    ** Quarterly beat reflects increased demand for its medical
devices used during heart and lung surgeries, growth in new and
replacement implants used in process by which nervous activity
is regulated 
    ** Posts rev of $293.9 mln, beating estimates of $265.49 mln
    ** Sees FY adj. profit per share to be in the range of $2.55
to $2.75 vs analysts ests of 2.59/share 
    ** Expects FY rev to grow between 8% and 10% on a
constant-currency basis
    ** Brokerage Stifel says LIVN business is clearly showing
positive momentum from both revenue and per share earnings
perspective
    ** YTD, LIVN stock up 4.5% through last close  

 (Reporting by Pratik Jain in Bengaluru)
 ((Pratik.Jain@thomsonreuters.com;))