LONDON - LivaNova PLC (NASDAQ:LIVN), a prominent medical technology company, announced the appointment of Susan Podlogar to its Board of Directors, effective today. Podlogar will also serve on the Board's Compensation and Human Capital Management Committee.
William Kozy, Chair of the LivaNova Board, expressed confidence in Podlogar's appointment, citing her extensive experience and understanding of the global business environment as valuable assets to the company. Podlogar brings 30 years of experience in leadership roles across consulting, scientific, and financial sectors. Her most recent position was Executive Vice President, Chief Human Resources Officer at MetLife (NYSE:MET) until June 2024. Her career also includes significant tenures at Johnson & Johnson and earlier roles at Bayer (OTC:BAYRY) Pharmaceutical, Bristol-Myers Squibb (NYSE:BMY), and William M. Mercer (NASDAQ:MERC).
Podlogar expressed her enthusiasm for joining the LivaNova Board, highlighting the company's impact on patient quality of life through its medical technologies. She aims to leverage her experience to further the company's commitment to its patients and customers while enhancing shareholder value.
The addition of Podlogar expands the LivaNova Board to ten Directors. The company, headquartered in London, has a global footprint with approximately 2,900 employees and operates in over 100 countries. LivaNova is focused on providing medical technologies for neurological and cardiac conditions.
This announcement is based on a press release statement from LivaNova. The company's forward-looking statements are subject to various factors that could cause actual results to differ from those projected, as detailed in their SEC filings.
In other recent news, LivaNova PLC has been making significant strides. The company reported a 10% revenue increase in the second quarter of 2024, marking its sixth consecutive quarter of double-digit growth. This robust performance, primarily driven by the cardiopulmonary and epilepsy segments, led to an upward revision of its full-year revenue and adjusted earnings per share (EPS) guidance for 2024.
Goldman Sachs initiated coverage on LivaNova with a Buy rating, anticipating consistent results and improved margin profile. The firm expects the company's base business to exhibit approximately 5% annual revenue growth, with further increases from distinct pipeline initiatives and market share gains. Meanwhile, Baird upgraded LivaNova's stock from Neutral to Outperform, citing strengthened long-term growth prospects.
In other company news, LivaNova announced the upcoming departure of its Chief Human Resources Officer, Trui Hebbelinck, effective September 30, 2024. A search for a replacement is underway with the assistance of an external firm. These recent developments are part of LivaNova's strategic plans to invest in its core businesses and maintain above-market growth.
InvestingPro Insights
As LivaNova PLC (NASDAQ:LIVN) welcomes Susan Podlogar to its Board of Directors, investors may find additional context from recent financial data and expert insights valuable. According to InvestingPro data, LivaNova has a market capitalization of $2.86 billion, reflecting its significant presence in the medical technology sector.
The company's revenue growth is noteworthy, with an 11.52% increase over the last twelve months as of Q2 2024, reaching $1.21 billion. This growth trend aligns with the company's global expansion efforts and focus on neurological and cardiac medical technologies.
InvestingPro Tips highlight that LivaNova's net income is expected to grow this year, which could be a positive sign for investors following the appointment of Podlogar to the board. Additionally, the company operates with a moderate level of debt, potentially providing financial flexibility as it pursues growth strategies.
It's worth noting that while LivaNova was not profitable over the last twelve months, analysts predict the company will be profitable this year. This projection, combined with the board's expansion, may signal a strategic focus on improving financial performance and governance.
For investors seeking a deeper understanding of LivaNova's prospects, InvestingPro offers 7 additional tips, providing a more comprehensive analysis of the company's financial health and market position.
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