Invacare (IVC) Rating Increased to Hold at Zacks Investment Research
Invacare (NYSE:IVC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Saturday.
According to Zacks, “Invacare Corporation is a leading manufacturer and distributor in its markets for medical equipment used in non-acute care settings. At its core, the company designs, manufactures and distributes medical devices that help people to move, breathe, rest and perform essential hygiene. The company provides clinically complex medical device solutions for congenital (e.g., cerebral palsy, muscular dystrophy, spina bifida), acquired (e.g., stroke, spinal cord injury, traumatic brain injury, post-acute recovery, pressure ulcers) and degenerative (e.g., ALS, multiple sclerosis, chronic obstructive pulmonary disease (COPD), elderly, bariatric) ailments. The company’s products are important parts of care for people with a wide range of challenges, from those who are active and involved in work or school each day and may need additional mobility or respiratory support, to those who are cared for in residential care settings, at home and in rehabilitation centers. “
Other equities research analysts have also issued reports about the stock. ValuEngine lowered shares of Invacare from a “buy” rating to a “hold” rating in a report on Friday. TheStreet lowered shares of Invacare from a “c” rating to a “d+” rating in a report on Friday, August 10th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $21.50.
Invacare (NYSE:IVC) last posted its earnings results on Tuesday, August 7th. The health services provider reported ($0.41) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.11). The firm had revenue of $246.15 million during the quarter, compared to analyst estimates of $247.90 million. Invacare had a negative return on equity of 12.52% and a negative net margin of 6.80%. research analysts predict that Invacare will post -1.28 EPS for the current fiscal year.
In other Invacare news, SVP Dean J. Childers sold 7,000 shares of the stock in a transaction on Friday, June 29th. The shares were sold at an average price of $18.71, for a total value of $130,970.00. Following the sale, the senior vice president now directly owns 34,631 shares in the company, valued at $647,946.01. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.10% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. increased its position in shares of Invacare by 7.7% during the second quarter. BlackRock Inc. now owns 4,966,290 shares of the health services provider’s stock worth $92,374,000 after acquiring an additional 356,975 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Invacare by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,770,365 shares of the health services provider’s stock valued at $48,204,000 after purchasing an additional 88,888 shares in the last quarter. Royce & Associates LP grew its position in Invacare by 2.4% in the second quarter. Royce & Associates LP now owns 1,589,533 shares of the health services provider’s stock valued at $29,565,000 after purchasing an additional 37,100 shares in the last quarter. Millennium Management LLC grew its position in Invacare by 318.5% in the first quarter. Millennium Management LLC now owns 1,455,746 shares of the health services provider’s stock valued at $25,330,000 after purchasing an additional 1,107,858 shares in the last quarter. Finally, Elk Creek Partners LLC grew its position in Invacare by 53.0% in the first quarter. Elk Creek Partners LLC now owns 1,388,380 shares of the health services provider’s stock valued at $24,158,000 after purchasing an additional 480,755 shares in the last quarter.
Invacare Corporation, together with its subsidiaries, designs, manufactures, distributes, and exports medical equipment for use in home health care, retail, and extended care markets worldwide. The company operates through four segments: North America/Home Medical Equipment, Institutional Products Group, Europe, and the Asia/Pacific.
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