Exploring LivaNova PLC (LIVN) Investor Profile: Who’s Buying and Why?

You're looking at LivaNova PLC (LIVN) and wondering why this medical technology stock, with a market capitalization of about $2.92 billion, sees such intense institutional trading, right? Honestly, the investor profile is a fascinating tug-of-war: institutional investors own roughly 97.64% of the company, but there's been a massive churn, with institutions selling 82.9 million shares and buying 39.6 million in a recent quarter. That kind of volatility defintely signals a disagreement on future value.

The core of the story is performance versus risk. On the one hand, LivaNova is projecting strong growth, raising its full-year 2025 adjusted diluted earnings per share (EPS) guidance to a range of $3.80 to $3.90 and organic revenue growth to between 9.5% and 10.5%, driven by its Cardiopulmonary and Neuromodulation segments. Plus, their Q3 2025 revenue of $357.75 million beat expectations. But still, the Q1 2025 GAAP diluted loss per share of $6.01-largely due to a one-time $360.4 million environmental liability-is a huge number to digest. So, who's sticking around? Major players like BlackRock, Inc. hold a significant 13.27% stake, but are they buying the growth narrative or just managing a large index position? We need to dig into the 13F filings to see the real conviction.

Who Invests in LivaNova PLC (LIVN) and Why?

You're looking at LivaNova PLC (LIVN) and wondering who is driving the stock's action, and honestly, it's a classic medical technology story: a mix of passive giants and active growth managers betting on a turnaround in innovation. The short answer is that the stock is overwhelmingly controlled by institutional money, with a focus on its high-growth potential in specialized medical markets.

As of late 2025, institutional investors own approximately 69.24% of LivaNova PLC's stock, which is a massive chunk of the company's equity. This leaves about 30.48% held by retail investors and the general public, plus a tiny 0.28% by insiders. This ownership structure means the big decisions and major price movements are defintely dictated by large funds, not by individual traders.

Key Investor Types and Their Footprint

The institutional buyer base breaks down into three main camps: passive index funds, long-term growth/value funds, and active hedge funds. Each group has a different reason for holding LivaNova PLC in their portfolio.

The largest holders are often the most passive. For example, BlackRock, Inc. and The Vanguard Group, Inc. are consistently at the top of the shareholder list. BlackRock, Inc. holds about 13.27% of the shares, while The Vanguard Group, Inc. holds approximately 4.21%. They hold LivaNova PLC mostly because it is a component of key indices, like the S&P MidCap 400, so they buy it to match the index's performance. It's not a conviction bet; it's a mandate.

Here's a quick look at the top institutional players as of late 2025:

Investment Motivations: Growth, Not Income

Investors are attracted to LivaNova PLC for its growth prospects in niche, high-margin medical technology, not for shareholder payouts. The company does not currently pay a dividend, which is typical for a med-tech firm prioritizing capital expenditure on R&D and market expansion.

The core motivation is the company's ability to execute on its two main segments, Cardiopulmonary and Neuromodulation, and its high-potential pipeline. The 2025 fiscal year performance reflects this focus, with the company raising its full-year guidance.

• Strong Core Growth: The company raised its 2025 organic revenue growth guidance to between 9.5% and 10.5%, driven by the Cardiopulmonary segment's reported 18.0% revenue increase in Q3 2025, largely due to the Essenz™ Perfusion System.
• Pipeline Upside: The Neuromodulation business, which is growing at a reported 6.9% (Q3 2025), offers significant future upside with its Obstructive Sleep Apnea (OSA) program. Management projects the OSA business to be break-even by 2029, with a potential to generate $200 million to $400 million in revenue by 2030.
• Cash Generation: Disciplined operations are expected to deliver full-year 2025 adjusted free cash flow in the range of $160 million to $180 million, which provides capital for future innovation and acquisitions.

If you want to dive deeper into the core business performance, check out Breaking Down LivaNova PLC (LIVN) Financial Health: Key Insights for Investors.

Investment Strategies: Growth-Oriented and Active

The strategies at play are primarily long-term growth and active trading, mirroring the company's profile as a mid-cap medical device manufacturer. The presence of firms like PRIMECAP Management Company, known for a Growth at a Reasonable Price (GARP) strategy, suggests a long-term view. They see a company with predictable core revenue and a clear path to margin expansion and future earnings from new products.

On the other hand, the substantial ownership by hedge funds like Millennium Management LLC points to active, sometimes short-term, strategies. These funds are likely trading around clinical trial milestones, regulatory approvals (like the aura6000™ System submission), and earnings surprises. They are looking to capitalize on volatility, especially as the company navigates the high-risk, high-reward nature of its pipeline.

Here's the quick math: with adjusted diluted earnings per share for 2025 expected to be between $3.80 and $3.90, the focus is squarely on how quickly LivaNova PLC can grow those earnings, not the current valuation alone. The investment thesis is simple: buy into the current stable core and wait for the high-potential pipeline to mature and drive the next wave of growth. This is a capital appreciation play, pure and simple.

Institutional Ownership and Major Shareholders of LivaNova PLC (LIVN)

The investor profile for LivaNova PLC (LIVN) is defintely dominated by institutional money, which is typical for a medical technology company with a market capitalization around $2.94 billion as of November 2025. Overall, institutional investors hold a significant portion of the company's stock, giving them a powerful voice in strategic decisions, like the new long-range financial plan presented at the November 2025 Investor Day. This level of ownership means that the stock's near-term volatility is often driven by the collective buying and selling of a few major funds.

Top Institutional Investors: Who's Buying LivaNova?

When you look at the Q3 2025 filings (reporting holdings as of September 30, 2025), a few names stand out. These aren't just passive index funds; they include some of the world's largest asset managers and specialized investment firms. Blackrock, Inc. and Vanguard Group Inc. are anchor investors, which is common given their massive scale and index-tracking products, but the presence of firms like Primecap Management Co/Ca/ and Artisan Partners Limited Partnership signals active conviction in LivaNova's potential growth areas, like Neuromodulation and Advanced Circulatory Support. Here's a look at the largest institutional holders and their positions:

Here's the quick math: Blackrock, Inc.'s position alone represents over 13% of the total shares outstanding (approximately 54.6 million shares as of late October 2025). That's a huge stake.

Recent Shifts: Who's Increasing and Decreasing Their Stake?

The recent ownership changes are where you find the real story. In the third quarter of 2025, there was a clear divergence in strategy among the big players. While passive giants like Blackrock, Inc. and Vanguard Group Inc. made minor reductions-Blackrock trimmed its position by 56,769 shares and Vanguard by 157,696 shares-the active managers were making big moves. This is what you need to watch.

The notable increases show strong conviction from specific firms:

• Artisan Partners Limited Partnership significantly increased its stake by 1,179,436 shares.
• Wellington Management Group Llp added 1,067,349 shares.
• Millennium Management Llc also made a substantial addition of 544,033 shares.

These large purchases by active managers suggest they see a compelling near-term opportunity, likely tied to the company's strategic roadmap and the potential for new product cycles in its medical device segments. Conversely, the small reductions from the index funds are just routine portfolio rebalancing, not a signal of a bearish view. The smart money is leaning into the stock.

The Impact of Institutional Investors on LIVN's Strategy

Institutional investors don't just own the stock; they govern it. Their sheer size means they play a critical role in LivaNova PLC's stock price stability and corporate governance. When a firm like Artisan Partners Limited Partnership adds over a million shares, it creates a strong demand floor for the stock, helping to buffer against sell-offs.

More importantly, they influence the long-term direction. For example, at the June 2025 Annual General Meeting (AGM), shareholders approved two new incentive plans, including the LivaNova PLC 2025 Director Incentive Award Plan. This approval, driven by institutional votes, directly aligns management and director compensation with shareholder returns, pushing the company toward the long-range financial targets-like high-single-digit-plus revenue compound annual growth rate (CAGR)-outlined at the November 2025 Investor Day. If you want to understand the company's core values that drive these decisions, you should read the Mission Statement, Vision, & Core Values of LivaNova PLC (LIVN).

The key takeaway is that the institutional base is not monolithic, but the recent large inflows from active managers suggest they are buying into the company's focused strategic plan for its Cardiopulmonary and Neuromodulation segments. This is a vote of confidence in management's ability to execute on its plan to achieve an adjusted annual operating margin above 20% over the next three years.

Key Investors and Their Impact on LivaNova PLC (LIVN)

You want to know who is buying LivaNova PLC (LIVN) and why, and the short answer is: the biggest players in the game are doubling down on the company's long-term growth story, especially after a strong 2025 performance. Institutional ownership is exceptionally high, sitting at over 103% of the float, which is a classic sign of major funds holding more shares than are publicly available for trading, primarily due to index tracking and derivatives.

The top holders are massive asset managers and quantitative funds, meaning their influence is less about public activism and more about capital allocation and proxy voting. They are buying into the company's clear strategic roadmap for its Cardiopulmonary and Neuromodulation segments.

Notable Institutional Investors and Their Stakes

The investor profile for LivaNova PLC (LIVN) is dominated by the index funds and major active managers who seek exposure to the medical technology space. As of the third quarter of 2025, the top institutional holders represent trillions in assets under management (AUM) globally.

The sheer scale of these holders means they are not just passive investors. They act as a stabilizing force, but they defintely expect consistent execution against the company's growth targets. Here's a quick look at the top three, based on Q3 2025 filings:

• BlackRock, Inc.: Held the largest stake at 13.27%, controlling 7,248,411 shares with a market value of approximately $390.6 million.
• PRIMECAP Management Company: A significant active manager holding 8.14%, or 4,444,832 shares.
• Millennium Management LLC: A multi-strategy hedge fund holding 5.44%, equating to 2,970,114 shares.

Also worth noting is The Vanguard Group, Inc., another index giant, which held 4.21% or 2,297,239 shares. These funds are typically long-term holders, anchoring the stock and providing liquidity, but their massive voting power is the real source of their influence.

Investor Influence: The Quiet Power of Proxy Votes

Unlike a classic activist situation where a hedge fund publicly demands a sale or a board change, the influence of these large, mostly passive or quantitative investors is more subtle. Their power is concentrated in the annual general meeting (AGM) and on key strategic decisions.

For example, in June 2025, shareholders voted to approve two new incentive plans, including the LivaNova PLC 2025 Director Incentive Award Plan. This wasn't a contentious battle, but the approval reflects a strong endorsement of management's strategy and commitment to aligning executive and shareholder interests. When you see BlackRock and Vanguard holding such large blocks, their votes on governance issues-like executive compensation and board appointments-are what truly matter. They provide the mandate for the management team to execute the long-range plan presented at the November 2025 Investor Day.

Recent Moves and the 2025 Growth Thesis

The recent investor activity clearly maps to LivaNova PLC (LIVN)'s strong operational momentum in 2025. The core investment thesis is built on the success of the Cardiopulmonary and Neuromodulation segments, plus the high-potential pipeline.

Here's the quick math: In Q3 2025, the company delivered adjusted earnings per share (EPS) of $1.11, which was a 20.65% surprise over the $0.92 forecast. Revenue hit $358 million, beating the consensus. This beat-and-raise scenario is what drives institutional buying.

The company responded to this performance by raising its full-year 2025 adjusted EPS guidance to a range of $3.80 to $3.90. This is the signal investors needed. The market's reaction was immediate, with the stock rising by 2.24% in pre-market trading after the Q3 results were released on November 5, 2025. AQR Capital Management, LLC, a quantitative fund, showed a notable move in the prior quarter, decreasing its stake by 19.067% in Q3 2025, but this is often a systematic rebalancing rather than a fundamental shift. Overall, the high institutional ownership and the raised guidance show capital flowing toward a proven growth trajectory.

The investment narrative is now focused on the future, as detailed in the November 2025 Investor Day:

• Cardiopulmonary: Expecting revenue growth of 12.5% to 13.5% for the full year 2025, driven by the Essenz Perfusion System.
• Neuromodulation: Strong performance in epilepsy and the long-term upside from new therapies for Obstructive Sleep Apnea (OSA) and Difficult-to-Treat Depression.

If you want to dig deeper into the company's foundation, you should read Breaking Down LivaNova PLC (LIVN) Financial Health: Key Insights for Investors.

Market Impact and Investor Sentiment

You're looking at LivaNova PLC (LIVN) and wondering if the big money is still buying in, especially after a volatile year. The short answer is yes, institutional sentiment is defintely leaning positive right now, largely due to management's revised 2025 guidance. This is not a unanimous 'Strong Buy' across the board, but the balance of power is clearly bullish, mapping out a path for significant near-term upside.

The institutional ownership in LivaNova PLC is remarkably high, sitting at approximately 103.73% of the float as of November 2025. This figure, which is common in stocks with significant short interest or complex share structures, shows major financial players like BlackRock and Vanguard are heavily committed. This kind of concentrated ownership signals stability, but it also means that any large move by a major holder could create a sharp price swing. It's a double-edged sword, but right now, the consensus points to growth.

Here's the quick math on the major players as of the Q3 2025 filings:

• BlackRock, Inc.: Held 7,248,651 shares.
• PRIMECAP Management Company: Held 4,444,832 shares.
• Millennium Management LLC: Held 2,969,814 shares.
• The Vanguard Group, Inc.: Held 2,297,239 shares.

You can look deeper into the company's fundamentals here: Breaking Down LivaNova PLC (LIVN) Financial Health: Key Insights for Investors.

Recent Market Reactions to Ownership Shifts

The stock market has reacted strongly and positively to LivaNova PLC's operational improvements. For example, the stock jumped by about 11.4% following the company's early November 2025 announcement of its third-quarter results. This surge happened despite a year-over-year decrease in net income, because the market focused on the forward-looking signal: management raised its full-year organic revenue growth outlook to a range of 9.5% to 10.5%. That's what institutional investors prioritize-a clear, upward-revised growth trajectory.

The market is buying the growth story, not the current bottom line. The stock is trading in the mid-$50s in November 2025, which is well above its 52-week low of around $32.48, but still below its high of nearly $58.91. This suggests that while there has been a strong recovery, there's still room to run if the company executes on its new guidance.

To be fair, a director did report a small sale of 250 shares at $53.94 on November 18, 2025, but a routine insider transaction of that size, valued at only $13,485, doesn't change the overall institutional narrative. It's a blip, not a trend.

Analyst Perspectives: Why the Big Money is Buying

The analyst community is largely in your corner if you're bullish on LivaNova PLC. The consensus rating is a 'Buy' or 'Strong Buy,' with virtually no 'Sell' recommendations. The average analyst price target is in the range of $62.43 to $65.50, which suggests a potential upside of around 11.68% to 28.73% from the current price. That's a solid return for a medical device stock.

The key catalyst analysts are pointing to is the successful global rollout of the Essenz Perfusion System, particularly its commercial launch in China. This is a concrete, revenue-driving event. Plus, the company reported third-quarter 2025 revenue of $357.75 million, beating the consensus estimate of about $342.3 million, and an EPS of $1.11, which topped the forecast of $0.91. Beating expectations like that is what drives price targets higher.

Here is a snapshot of the recent analyst price target revisions following the Q3 2025 results and updated guidance:

What this estimate hides, however, is the lingering concern about margin performance and execution risk, which is why some analysts, like Barclays, still maintain a 'Hold' rating, even after raising their price target to $58. The 2025 full-year EPS guidance of $3.80 to $3.90 is ambitious, and any slip-up in product execution, like a delay in FDA approval for a key device, could quickly reverse the positive sentiment. It's a growth story, but one that requires flawless execution.