Invacare Corporation (IVC) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Invacare Corporation (NYSE:IVC) from a sell rating to a hold rating in a research note issued to investors on Wednesday.
According to Zacks, “Invacare Corporation is the world’s leading manufacturer and distributor of non-acute health care products based upon its distribution channels, the breadth of its product line and sales. The company designs, manufactures and distributes an extensive line of health care products for the non-acute care environment including the home health care, retail and extended care markets. The company’s products are sold through its world-wide distribution network byits sales force, telemarketing employees and various organizations of independent manufacturer’s representatives. “
Several other brokerages also recently commented on IVC. BidaskClub downgraded shares of Invacare Corporation from a hold rating to a sell rating in a report on Monday, July 24th. ValuEngine upgraded shares of Invacare Corporation from a sell rating to a hold rating in a report on Friday, August 4th. Finally, KeyCorp restated an overweight rating and set a $17.00 target price on shares of Invacare Corporation in a report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. Invacare Corporation currently has an average rating of Hold and an average price target of $14.50.
Invacare Corporation (NYSE:IVC) opened at 14.45 on Wednesday. The stock’s market capitalization is $474.97 million. Invacare Corporation has a 52-week low of $8.00 and a 52-week high of $16.65. The stock has a 50 day moving average of $14.87 and a 200 day moving average of $13.75.
Invacare Corporation (NYSE:IVC) last announced its quarterly earnings results on Monday, August 7th. The health services provider reported ($0.63) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.21). The firm 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%. The business’s revenue was down 15.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.33) earnings per share. On average, equities research analysts forecast that Invacare Corporation will post ($1.87) EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Thursday, October 5th will be issued a dividend of $0.0125 per share. This represents a $0.05 annualized dividend and a yield of 0.35%. The ex-dividend date is Wednesday, October 4th. Invacare Corporation’s dividend payout ratio is -2.59%.
In other Invacare Corporation news, SVP Dean J. Childers sold 6,249 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $15.15, for a total transaction of $94,672.35. Following the completion of the sale, the senior vice president now 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 at the SEC website. Company insiders own 2.60% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan grew its position in Invacare Corporation by 4.3% in the second quarter. Municipal Employees Retirement System of Michigan now owns 7,580 shares of the health services provider’s stock valued at $100,000 after acquiring an additional 310 shares during the last quarter. 1st Global Advisors Inc. bought a new stake in shares of Invacare Corporation during the second quarter worth about $138,000. Leucadia National Corp bought a new stake in shares of Invacare Corporation during the second quarter worth about $161,000. Louisiana State Employees Retirement System grew 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 purchasing an additional 200 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew 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 purchasing an additional 4,166 shares during the last quarter.
Invacare Corporation Company Profile
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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