LivaNova downgraded to Peer Perform from Outperform at Wolfe Research

Wolfe Research analyst Mike Polark downgraded LivaNova (LIVN) to Peer Perform from Outperform without a price target The company’s Q4 missed primarily on execution issues in outside the U.S. epilepsy and its 2025 guidance reflects flat U.S. replacements, the analyst tells investors in a research note. The firm says LivaNova’s core business “underwhelmed” and is now in “show us” fashion. Wolfe is also concerned about the company’s competition in 2026 with a potential FDA approval and launch of a generalized epilepsy indication for NeuroPace’s (NPCE) responsive neurostimulation.