Invacare Corporation (IVC) Stake Increased by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP grew its stake in Invacare Corporation (NYSE:IVC) by 0.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,583,255 shares of the health services provider’s stock after acquiring an additional 4,928 shares during the quarter. Dimensional Fund Advisors LP owned 7.86% of Invacare worth $40,686,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. 1st Global Advisors Inc. bought a new stake in shares of Invacare in the 2nd quarter valued at about $138,000. BNP Paribas Arbitrage SA increased its stake in shares of Invacare by 39.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 14,646 shares of the health services provider’s stock valued at $193,000 after acquiring an additional 4,166 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of Invacare by 63.1% in the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 12,360 shares of the health services provider’s stock valued at $195,000 after acquiring an additional 4,780 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Invacare by 1.2% in the 2nd quarter. Arizona State Retirement System now owns 16,724 shares of the health services provider’s stock valued at $221,000 after acquiring an additional 200 shares during the last quarter. Finally, AXA bought a new stake in shares of Invacare in the 2nd quarter valued at about $224,000. 94.65% of the stock is owned by institutional investors.
Shares of Invacare Corporation (IVC) opened at $16.15 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.28 and a quick ratio of 1.57. Invacare Corporation has a 52 week low of $9.90 and a 52 week high of $17.95. The company has a market capitalization of $530.86, a PE ratio of -6.90 and a beta of 2.45.
Invacare (NYSE:IVC) last issued its quarterly earnings data on Tuesday, November 7th. The health services provider reported ($0.41) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.43) by $0.02. Invacare had a negative return on equity of 13.33% and a negative net margin of 7.95%. The business had revenue of $250.91 million during the quarter, compared to analyst estimates of $239.88 million. During the same period in the previous year, the firm earned ($0.37) EPS. Invacare’s quarterly revenue was down 6.4% compared to the same quarter last year. sell-side analysts predict that Invacare Corporation will post -2.12 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Thursday, January 4th will be given a $0.0125 dividend. The ex-dividend date of this dividend is Wednesday, January 3rd. This represents a $0.05 annualized dividend and a dividend yield of 0.31%. Invacare’s dividend payout ratio is presently -2.14%.
A number of brokerages have recently commented on IVC. ValuEngine raised Invacare from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st. KeyCorp reaffirmed a “buy” rating and issued a $20.00 price target on shares of Invacare in a research note on Thursday, December 21st. Finally, Zacks Investment Research cut Invacare from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $16.00.
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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