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Held by 276 of 5,944 reporting institutions (94th percentile) — extremely crowded.
Data as of Q1 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Solve the discounted cash flow backwards, then stress-test the assumptions.
To be worth $77.79 today, the market must believe free cash flow compounds 15.0%/yr for a decade (off $116M normalized FCF).
The market's 15.0% is in line with its 9-yr track record.
2-stage DCF · 0.05B shares · net debt -$259M
mean 4.7% · volatility σ 141% · implied rate exceeded in 3/7 yrs
Central path = implied 15.0%/yr growth; shaded band = ±1σ (141%) of this company's historical FCF volatility, widening with time. The wider the band, the less certain the growth.
Reverse DCF: rather than guessing a fair value, we solve for the growth the current price implies, then you stress-test the assumptions. Enterprise value of the FCF stream, less net debt, ÷ shares. Educational — not a recommendation.
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Ranked against 1085 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-03-31.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BCAX | $1.24T | — | — | — | — | — | — | -34.4% | -34.4% | — | 143 |
| LLY | $1.03T | 50.2× | — | 15.9× | 44.7% | 83.0% | 31.7% | 77.8% | 29.9% | — | 4,193 |
| AKTX | $894.1B | — | — | — | — | — | — | -61.1% | -61.1% | — | 1 |
| JNJ | $650.5B | 24.5× | — | 6.9× | 6.0% | 67.9% | 28.5% | 32.9% | 20.7% | — | 4,451 |
| ABBV | $467.1B | 111.9× | 33.4× | 7.6× | 8.6% | 70.2% | 6.9% | -129% | 6.6% | 4.2× | 3,895 |
| MRK | $368.2B | 20.2× | — | 5.7× | 1.3% | 74.8% | 28.1% | 34.7% | 17.9% | — | 3,594 |
| UNH | $339.9B | 28.4× | 19.7× | 0.8× | 11.8% | 88.7% | 2.7% | 12.0% | 6.8% | 3.9× | 2,891 |
| AZN | $257.7B | — | — | — | — | — | — | — | — | — | 1,248 |
| TMO | $248.2B | 37.1× | 31.9× | 5.6× | 3.9% | — | 15.0% | 12.6% | 7.0% | 4.9× | 2,481 |
| AMGN | $204.6B | 26.7× | 17.6× | 5.6× | 10.0% | 67.2% | 21.0% | 89.1% | 12.2% | 3.8× | 3,014 |
| GILD | $187.3B | 22.3× | 20.4× | 6.4× | 2.4% | 78.8% | 28.9% | 37.5% | 17.9% | 2.4× | 2,218 |
| ABT | $178.0B | 27.5× | 19.2× | 4.0× | 5.7% | 56.4% | 14.7% | 12.5% | 10.0% | 1.4× | 2,964 |
| PFE | $157.1B | 20.3× | — | 2.5× | -1.6% | 74.3% | 12.4% | 9.0% | 5.1% | — | 2,838 |
| DHR | $150.2B | 42.1× | 31.0× | 6.1× | 2.9% | 59.1% | 14.7% | 6.9% | 5.1% | 3.4× | 2,083 |
| ISRG | $136.2B | 48.7× | 37.5× | 13.5× | 20.5% | 66.0% | 28.4% | 16.0% | 16.0% | — | 2,190 |
| VRTX | $131.1B | 33.7× | 28.8× | 10.9× | 8.9% | 86.2% | 32.9% | 21.2% | 21.2% | — | 1,609 |
| BMY | $127.8B | 18.2× | — | 2.6× | -0.2% | 71.1% | 14.6% | 38.2% | 11.1% | — | 2,431 |
| MDT | $118.8B | 24.9× | 12.6× | 3.3× | 8.4% | 65.0% | 13.2% | 9.7% | 9.4% | 0.2× | 2,114 |
| CVS | $114.7B | 64.9× | 11.5× | 0.3× | 7.8% | 45.0% | 0.4% | 2.4% | 2.4% | 0.0× | 1,795 |
| SYK | $107.1B | 33.4× | 18.4× | 4.3× | 11.2% | 64.0% | 12.9% | 14.5% | 8.5% | 2.5× | 2,196 |
| MCK | $102.5B | 22.9× | 16.2× | 0.3× | 12.4% | 3.6% | 1.2% | -219% | 109% | 1.0× | 1,946 |
| HCA | $96.4B | 15.1× | — | 1.3× | 7.1% | — | 9.0% | -113% | 16.8% | — | 1,346 |
| ELV | $91.4B | 16.4× | 15.5× | 0.5× | 12.5% | 89.4% | 2.8% | 12.9% | 7.6% | 4.2× | 1,397 |
| REGN | $82.6B | 19.0× | 19.8× | 5.8× | 1.0% | — | 31.4% | 14.4% | 13.6% | 0.5× | 1,336 |
| CI | $72.7B | 12.4× | 5.5× | 0.3× | 11.2% | 21.8% | 2.2% | 14.3% | 14.1% | 0.0× | 1,583 |
| LIVN | $4.3B | — | 17.5× | 3.1× | 10.7% | 67.7% | -17.5% | -20.2% | -15.4% | 1.7× | 276 |
Peers = companies sharing LIVN's sector (Healthcare) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
EOD close · as of 2026-09-17
How a revenue dollar becomes profit — FY2025
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.39B 100.0% | $1.25B 100.0% | $1.15B 100.0% | $1.02B 100.0% | $1.04B 100.0% | $934.2M 100.0% | $1.08B 100.0% | $1.11B 100.0% | $1.01B 100.0% | $964.9M 100.0% |
| Cost of Revenue | $448.2M 32.3% | $400.0M 31.9% | $397.7M 34.5% | $314.6M 30.8% | $329.4M 31.8% | $339.5M 36.3% | $360.4M 33.2% | $361.3M 32.6% | $353.2M 34.9% | $367.8M 38.1% |
| Gross Profit | $939.9M 67.7% | $853.5M 68.1% | $755.8M 65.5% | $707.2M 69.2% | $706.0M 68.2% | $594.8M 63.7% | $723.8M 66.8% | — | $651.6M 64.4% | $559.5M 58.0% |
| Research & Development | $185.8M 13.4% | $182.5M 14.6% | $193.8M 16.8% | $155.8M 15.2% | $183.4M 17.7% | $152.9M 16.4% | $146.8M 13.5% | $145.9M 13.2% | $109.5M 10.8% | $82.1M 8.5% |
| Selling, General & Admin | $548.8M 39.5% | $508.9M 40.6% | $502.7M 43.6% | $469.2M 45.9% | $471.9M 45.6% | $446.6M 47.8% | $528.5M 48.7% | $465.0M 42.0% | $380.1M 37.5% | $355.2M 36.8% |
| Total Operating Expenses | — | — | — | — | — | — | — | — | $556.0M 54.9% | $528.1M 54.7% |
| Operating Income | $199.4M 14.4% | $129.1M 10.3% | -$68.5M -5.9% | -$76.8M -7.5% | -$784K -0.1% | -$273.9M -29.3% | -$171.6M -15.8% | -$248.1M -22.4% | $96.5M 9.5% | $33.4M 3.5% |
| Interest Expense | $49.3M 3.6% | $63.1M 5.0% | $58.9M 5.1% | $48.3M 4.7% | $50.2M 4.8% | $40.8M 4.4% | $15.1M 1.4% | $9.8M 0.9% | $7.8M 0.8% | $10.6M 1.1% |
| Interest & Investment Income | $19.0M 1.4% | $30.1M 2.4% | $22.0M 1.9% | $4.7M 0.5% | $435K 0.0% | $131K 0.0% | $803K 0.1% | $847K 0.1% | $1.3M 0.1% | $1.7M 0.2% |
| Other Income (Expense), net | -$2.7M -0.2% | $47.8M 3.8% | $46.1M 4.0% | $691K 0.1% | — | — | — | — | — | — |
| Pretax Income | -$220.8M -15.9% | $88.3M 7.0% | -$81.2M -7.0% | -$75.1M -7.4% | -$124.5M -12.0% | -$348.0M -37.3% | -$188.4M -17.4% | -$247.4M -22.4% | $121.1M 12.0% | $25.7M 2.7% |
| Income Tax Expense | $21.6M 1.6% | $25.1M 2.0% | -$98.9M -8.6% | $11.1M 1.1% | $11.2M 1.1% | -$960K -0.1% | -$30.4M -2.8% | -$69.6M -6.3% | $50.0M 4.9% | $5.1M 0.5% |
| Net Income | -$242.5M -17.5% | $63.2M 5.0% | $17.6M 1.5% | -$86.2M -8.4% | -$135.8M -13.1% | -$348.8M -37.3% | -$157.6M -14.5% | -$189.4M -17.1% | -$25.1M -2.5% | -$62.8M -6.5% |
| Per Share | ||||||||||
| EPS (Basic) | $-4.45 | $1.17 | $0.33 | $-1.61 | $-2.68 | $-7.18 | $-3.21 | $-3.91 | $-0.52 | $-1.29 |
| EPS (Diluted) | $-4.45 | $1.16 | $0.32 | $-1.61 | $-2.68 | $-7.18 | $-3.26 | $-3.91 | $-0.52 | $-1.28 |
| Weighted Avg Shares (Basic) | 54.5M | 54.2M | 53.9M | 53.5M | 50.6M | 48.6M | 48.3M | 48.5M | 48.2M | 48.9M |
| Weighted Avg Shares (Diluted) | 54.5M | 54.6M | 54.2M | 53.5M | 50.6M | 48.6M | 48.3M | 48.5M | 48.5M | 49.0M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
Is the value real, and is the business safe? Academic scores + earnings quality + solvency, from SEC filings.
Safe > 2.99 · grey 1.81–2.99 · distress < 1.81
Eight indices comparing this year to last (receivables, margins, asset quality, growth, accruals, leverage). Above −1.78 suggests possible manipulation; below −2.22 is clean.
A screen, not proof — high growth alone can raise it.
Cash-conversion data unavailable. Lower/negative accruals = higher quality (Sloan).
Interest coverage is thin — monitor; leverage falling year-over-year.
F-Score (0–9 fundamental momentum), Altman Z (distress risk), and Beneish M (earnings-manipulation screen) are academic models computed from the SEC filings. Screens and context — educational, not recommendations.
What the company returns to shareholders — and whether it's covered by cash.
No dividend to cover. Last year: $0 dividends + $0 buybacks = $0 returned on $173M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A reinvestment story — most cash went back into growth rather than to shareholders.
Reinvestment has been productive — operating income grew well per dollar put in. Current ROIC on all capital: -15%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
How much the company owes, how it's trended, and how comfortably it's serviced.
Cash of $636M covers all $625M of scheduled principal — no refinancing pressure. Scheduled principal only (excludes interest & revolver draws). As of 2023-12-31 (10-K).
Green ≤ 1.5× · amber ≤ 3× · red > 3× (leverage relative to cash earnings).
Coverage is adequate but not comfortable. Effective rate ~13.1% on $377M of debt.
Cash of $636M fully covers short-term debt of $31M.
Mostly long-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
EOD close · as of 2026-09-17
Where each multiple sits in its own 10-yr range · 47th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 10-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
Watch the leverage lever — a chunk of ROE comes from the balance sheet.
What the company owes vs. what it holds
Year-by-year maturities aren't in SEC companyfacts (footnote-only), so this shows the debt/cash structure and net leverage instead.
Latest year: profit growth vs revenue growth
High operating leverage: profit moved 5.1× as fast as sales — great in an upturn, painful in a downturn.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cost of Revenue | 32.6 | 33.2 | 36.3 | 31.8 | 30.8 | 34.5 | 31.9 | 32.3 |
| Gross Profit | — | 66.8 | 63.7 | 68.2 | 69.2 | 65.5 | 68.1 | 67.7 |
| R&D | 13.2 | 13.5 | 16.4 | 17.7 | 15.2 | 16.8 | 14.6 | 13.4 |
| SG&A | 42.0 | 48.7 | 47.8 | 45.6 | 45.9 | 43.6 | 40.6 | 39.5 |
| Operating Income | -22.4 | -15.8 | -29.3 | -0.1 | -7.5 | -5.9 | 10.3 | 14.4 |
| Income Tax | -6.3 | -2.8 | -0.1 | 1.1 | 1.1 | -8.6 | 2.0 | 1.6 |
| Net Income | -17.1 | -14.5 | -37.3 | -13.1 | -8.4 | 1.5 | 5.0 | -17.5 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on LIVN: price, valuation, headline fundamentals, and an auto-generated scorecard from SEC filings. Flags are rule-based signals, not recommendations.