Invacare Corp. (IVC) Trading Down 1.9%
Invacare Corp. (NYSE:IVC) traded down 1.9% during mid-day trading on Monday . The stock traded as low as $10.95 and last traded at $11.07, with a volume of 138,015 shares trading hands. The stock had previously closed at $11.28.
Separately, Zacks Investment Research cut Invacare Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 2nd.
The stock’s market capitalization is $355.86 million. The company’s 50-day moving average is $12.00 and its 200 day moving average is $12.14.
Invacare Corp. (NYSE:IVC) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by $0.09. The firm earned $275 million during the quarter, compared to analysts’ expectations of $270.10 million. Invacare Corp. had a negative net margin of 2.81% and a negative return on equity of 5.16%. The company’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.23) EPS. Analysts anticipate that Invacare Corp. will post ($0.95) EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Thursday, October 13th will be paid a $0.0125 dividend. The ex-dividend date of this dividend is Tuesday, October 11th. This represents a $0.05 annualized dividend and a yield of 0.46%. Invacare Corp.’s dividend payout ratio (DPR) is -5.21%.
Several large investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its position in Invacare Corp. by 108.2% in the second quarter. BNP Paribas Arbitrage SA now owns 9,371 shares of the company’s stock valued at $114,000 after buying an additional 4,871 shares during the period. Rational Advisors LLC acquired a new position in Invacare Corp. during the second quarter valued at approximately $124,000. Profund Advisors LLC acquired a new position in Invacare Corp. during the second quarter valued at approximately $125,000. Thrivent Financial for Lutherans increased its position in Invacare Corp. by 7.6% in the second quarter. Thrivent Financial for Lutherans now owns 14,820 shares of the company’s stock valued at $180,000 after buying an additional 1,050 shares during the period. Finally, Arizona State Retirement System increased its position in Invacare Corp. by 1.3% in the second quarter. Arizona State Retirement System now owns 15,624 shares of the company’s stock valued at $190,000 after buying an additional 200 shares during the period. Institutional investors own 90.80% of the company’s stock.
About Invacare Corp.
Invacare Corporation is a manufacturer and distributor for medical equipment used in non-acute care settings. The Company’s geographical segments are Europe; North America, which includes North America/Home Medical Equipment (North America/HME) and Institutional Products Group (IPG) segments, and Asia/Pacific.
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