Zacks Investment Research cut shares of Invacare (NYSE:IVC) from a hold rating to a sell rating in a report released on Friday morning, Zacks.com reports.

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. “

Separately, ValuEngine upgraded Invacare from a sell rating to a hold rating in a research report on Thursday, August 1st.

Shares of IVC stock opened at $7.89 on Friday. The firm has a market cap of $247.54 million, a P/E ratio of -5.98 and a beta of 2.03. Invacare has a fifty-two week low of $3.05 and a fifty-two week high of $15.25. The business’s 50 day moving average price is $5.67 and its 200-day moving average price is $6.40. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.26 and a current ratio of 1.90.

Invacare (NYSE:IVC) last issued its quarterly earnings data on Monday, August 5th. The health services provider reported ($0.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.03). The business had revenue of $235.90 million during the quarter, compared to the consensus estimate of $238.32 million. Invacare had a negative return on equity of 11.26% and a negative net margin of 4.20%. Invacare’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.41) earnings per share. As a group, equities analysts predict that Invacare will post -1.13 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Stockholders of record on Friday, October 11th will be given a $0.125 dividend. This is a positive change from Invacare’s previous quarterly dividend of $0.01. This represents a $0.50 dividend on an annualized basis and a dividend yield of 6.34%. The ex-dividend date of this dividend is Thursday, October 10th. Invacare’s dividend payout ratio (DPR) is currently -3.79%.

Several hedge funds have recently modified their holdings of the company. Tyers Asset Management LLC purchased a new position in shares of Invacare in the 2nd quarter valued at approximately $28,000. Bank of Montreal Can lifted its stake in shares of Invacare by 86.0% in the 2nd quarter. Bank of Montreal Can now owns 6,162 shares of the health services provider’s stock valued at $32,000 after purchasing an additional 2,849 shares during the period. Flinton Capital Management LLC purchased a new position in shares of Invacare in the 2nd quarter valued at approximately $36,000. Neuburgh Advisers LLC purchased a new position in shares of Invacare in the 2nd quarter valued at approximately $44,000. Finally, BNP Paribas Arbitrage SA lifted its stake in shares of Invacare by 126.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 7,100 shares of the health services provider’s stock valued at $59,000 after purchasing an additional 3,960 shares during the period.

Invacare Company Profile

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 Europe, North America/Home Medical Equipment, Institutional Products Group, and the Asia/Pacific segments.

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