LivaNova ticks up on affirmed outlook

LivaNova (NSDQ:LIVN) shares are up today after the medical device company affirmed its outlook for the rest of the year.

London-based LivaNova, formed by the $3 billion merger of Sorin Group and Cyberonics in 2015, said it still expects to post adjusted earnings per share of $3.25 to $3.45 on constant-currency sales growth of 1% to 3%.

That sent LIVN shares up 1.4% to $49.69 apiece today in mid-afternoon trading on Wall Street, a day before its scheduled exit from the London Stock Exchange.

Earlier this month, LivaNova posted 4th-quarter losses of -$29.8 million, or -61¢ per share, on sales of $310.6 million. Adjusted to exclude 1-time items, earnings per share were 85¢, 4¢ ahead of the consensus on Wall Street, where analysts were looking for sales of $318.8 million.

Full-year losses were -$62.8 million, or -$1.29 per share, on sales of $1.21 billion; adjusted EPS for 2016 were $3.05, a full nickel ahead of The Street, which was looking for revenues of $1.22 billion.

In February the company said it would de-list from the London Stock Exchange, citing the low volume of trading in its shares there, as of the close of trading April 4.

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