LivaNova selloff overdone: Piper

LivaNova selloff today ‘very much overdone,’ says Piper Jaffray. Piper Jaffray analyst Matt O’Brien tells investors to buy shares of LivaNova following today’s post-earnings pullback. The analyst views the guidance as “essentially maintained” given that the company is just baking in TandemLife. He still believes the outlook is conservative. Further, there are meaningful leverage opportunities ahead, with LivaNova’s spending likely to be more front-end loaded to support growth, O’Brien writes in a post-earnings research note titled “This Time We Really Mean It; Buy This Name on the Pullback.” The analyst calls today’s pullback “very much overdone” and he “strongly” encourages investors to start or build positions in the name. O’Brien keeps an Overweight rating on the shares with a $105 price target. LivaNova closed the trading day down 7% to $83.32.

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