Invacare Corporation (IVC) Shares Sold by Daruma Capital Management LLC
Daruma Capital Management LLC cut its holdings in shares of Invacare Corporation (NYSE:IVC) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,828,630 shares of the health services provider’s stock after selling 94,198 shares during the quarter. Invacare Corporation comprises 2.2% of Daruma Capital Management LLC’s investment portfolio, making the stock its 28th largest holding. Daruma Capital Management LLC owned approximately 8.61% of Invacare Corporation worth $37,338,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Invacare Corporation by 4.3% during the second quarter. Municipal Employees Retirement System of Michigan now owns 7,580 shares of the health services provider’s stock worth $100,000 after buying an additional 310 shares during the last quarter. Leucadia National Corp acquired a new position in shares of Invacare Corporation during the second quarter worth approximately $161,000. Louisiana State Employees Retirement System lifted its holdings in shares of Invacare Corporation by 1.6% during the second quarter. Louisiana State Employees Retirement System now owns 13,100 shares of the health services provider’s stock worth $173,000 after buying an additional 200 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Invacare Corporation by 39.8% during the second quarter. BNP Paribas Arbitrage SA now owns 14,646 shares of the health services provider’s stock worth $193,000 after buying an additional 4,166 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in shares of Invacare Corporation by 1.2% during the first quarter. Arizona State Retirement System now owns 16,524 shares of the health services provider’s stock worth $197,000 after buying an additional 200 shares during the last quarter.
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In other Invacare Corporation news, SVP Dean J. Childers sold 6,249 shares of Invacare Corporation stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $15.15, for a total value of $94,672.35. Following the completion of the transaction, the senior vice president now directly owns 44,875 shares of the company’s stock, valued at approximately $679,856.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is owned by insiders.
Shares of Invacare Corporation (IVC) traded down 2.32% during mid-day trading on Friday, reaching $14.75. The company’s stock had a trading volume of 459,450 shares. Invacare Corporation has a 52-week low of $8.00 and a 52-week high of $16.65. The firm has a 50 day moving average price of $14.69 and a 200 day moving average price of $13.64. The firm’s market cap is $484.83 million.
Invacare Corporation (NYSE:IVC) last announced its quarterly earnings data on Monday, August 7th. The health services provider reported ($0.63) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.21). The company had revenue of $233.50 million during the quarter, compared to analyst estimates of $243.03 million. Invacare Corporation had a negative net margin of 6.42% and a negative return on equity of 12.79%. Invacare Corporation’s revenue was down 15.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.33) earnings per share. On average, equities analysts predict that Invacare Corporation will post ($1.87) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Thursday, October 5th will be issued a $0.0125 dividend. The ex-dividend date is Wednesday, October 4th. This represents a $0.05 annualized dividend and a yield of 0.34%. Invacare Corporation’s dividend payout ratio is presently -2.59%.
A number of brokerages have recently commented on IVC. KeyCorp reiterated an “overweight” rating and set a $17.00 price target on shares of Invacare Corporation in a report on Tuesday, September 26th. BidaskClub cut Invacare Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. ValuEngine upgraded Invacare Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Finally, Sidoti restated a “neutral” rating and set a $12.00 price objective (down from $14.00) on shares of Invacare Corporation in a research report on Monday, June 12th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $14.50.
About Invacare Corporation
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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