KeyCorp Reiterates “Buy” Rating for Invacare Corporation (IVC)
Invacare Corporation (NYSE:IVC)‘s stock had its “buy” rating reiterated by stock analysts at KeyCorp in a note issued to investors on Friday. They presently have a $18.00 price objective on the health services provider’s stock. KeyCorp’s price target points to a potential upside of 3.15% from the company’s current price. KeyCorp also issued estimates for Invacare Corporation’s Q4 2017 earnings at ($0.42) EPS, FY2017 earnings at ($1.93) EPS and FY2018 earnings at ($1.15) EPS.
IVC has been the subject of several other research reports. BidaskClub lowered shares of Invacare Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Zacks Investment Research raised shares of Invacare Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, October 11th. Finally, ValuEngine raised shares of Invacare Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $15.00.
Shares of Invacare Corporation (NYSE IVC) traded down $0.25 during mid-day trading on Friday, reaching $17.45. 1,071,800 shares of the company’s stock traded hands, compared to its average volume of 500,233. The company has a quick ratio of 1.53, a current ratio of 2.28 and a debt-to-equity ratio of 0.55. Invacare Corporation has a one year low of $9.90 and a one year high of $17.95.
Invacare Corporation (NYSE:IVC) last announced its earnings results on Tuesday, November 7th. The health services provider reported ($0.41) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.43) by $0.02. The company had revenue of $250.91 million during the quarter, compared to analyst estimates of $239.88 million. Invacare Corporation had a negative net margin of 7.95% and a negative return on equity of 13.33%. Invacare Corporation’s revenue was down 6.4% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.37) earnings per share. equities research analysts anticipate that Invacare Corporation will post -1.9 earnings per share for the current fiscal year.
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In other news, SVP Dean J. Childers sold 6,249 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were 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 owns 44,875 shares of the company’s stock, valued at $679,856.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.60% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Municipal Employees Retirement System of Michigan boosted its stake in shares of 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 purchasing an additional 310 shares during the period. 1st Global Advisors Inc. purchased a new position in shares of Invacare Corporation in the second quarter valued at approximately $138,000. Leucadia National Corp purchased a new position in shares of Invacare Corporation in the second quarter valued at approximately $161,000. Louisiana State Employees Retirement System boosted its stake in shares of Invacare Corporation by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 13,100 shares of the health services provider’s stock valued at $173,000 after purchasing an additional 200 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Invacare Corporation by 39.8% in the second quarter. BNP Paribas Arbitrage SA now owns 14,646 shares of the health services provider’s stock valued at $193,000 after purchasing an additional 4,166 shares during the period. 94.65% of the stock is owned by institutional investors and hedge funds.
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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