LivaNova PLC (NASDAQ:LIVN) is one of the best undervalued medical device stocks to buy now. On June 6, Jefferies analyst Matthew Taylor maintained a Buy rating on LivaNova PLC (NASDAQ:LIVN) and set a price target of $79.00. The analyst based the rating on the company’s strong growth potential, stating that it is undergoing a solid product cycle, especially with the Essenz upgrade.
A close-up of a medical device used for therapeutic solutions in a world-class hospital.
Taylor anticipates the upgrade to bring a considerable revenue boost through a rise in average selling prices as the replacement cycle progresses. Another factor highlighting the company’s competitive edge is its expansion in the oxygenator market, with expanding production capacity and a growing market share.
The analyst also reasoned that LivaNova PLC (NASDAQ:LIVN) has a strategic focus on internal execution for the commercialization of its Obstructive Sleep Apnea (OSA) solutions and reported promising data from its Depression Treatment Device (DTD) pipeline, factors that further support the optimistic rating.
LivaNova PLC (NASDAQ:LIVN) is a global medical technology company that develops and delivers therapeutic solutions to benefit healthcare systems, patients, and healthcare professionals. The company’s operations are divided into Cardiopulmonary, Neuromodulation, and Advanced Circulatory Support segments.
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Disclosure: None. This article is originally published at Insider Monkey.
