Baird sees new CEO announcement as second positive update for LivaNova

Baird notes LivaNova has announced the appointment of Vladimir Makatsaria as the new CEO and member of the Board of Directors, effective March 1st. The firm sees this as the company’s second positive update in recent weeks following its announced wind down of the ACS business last month. With the new CEO announced, the longer-term story continues to take shape, Baird argues, adding that it looks forward to hearing more about the new CEO’s strategy in portfolio optimization, achieving approval and bringing two new exciting growth drivers to market, and overcoming the litigation overhang, all of which keep the firm on the sidelines with a Neutral rating and a price target of $56.