Invacare Corp. (IVC) Given a $17.00 Price Target by KeyCorp Analysts
Invacare Corp. (NYSE:IVC) received a $17.00 target price from investment analysts at KeyCorp in a research note issued on Thursday. The brokerage presently has a a “buy” rating on the stock. KeyCorp’s price objective indicates a potential upside of 46.80% from the company’s current price.
Separately, Zacks Investment Research lowered shares of Invacare Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 2nd.
Invacare Corp. (NYSE:IVC) traded up 1.12% on Thursday, hitting $11.71. The stock had a trading volume of 768,785 shares. The firm’s market capitalization is $380.21 million. The company’s 50 day moving average is $11.58 and its 200-day moving average is $11.94. Invacare Corp. has a 1-year low of $9.89 and a 1-year high of $20.41.
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Invacare Corp. (NYSE:IVC) last released its earnings results on Thursday, July 28th. The company reported ($0.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by $0.09. The firm earned $275 million during the quarter, compared to analyst estimates of $270.10 million. Invacare Corp. had a negative net margin of 2.81% and a negative return on equity of 5.16%. Invacare Corp.’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.23) EPS. On average, analysts forecast that Invacare Corp. will post ($0.95) EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Thursday, October 13th will be issued a dividend of $0.0125 per share. The ex-dividend date is Tuesday, October 11th. This represents a $0.05 annualized dividend and a dividend yield of 0.43%. Invacare Corp.’s dividend payout ratio is currently -5.21%.
Several institutional investors have recently made changes to their positions in IVC. BNP Paribas Arbitrage SA raised its position in shares of Invacare Corp. by 108.2% in the second quarter. BNP Paribas Arbitrage SA now owns 9,371 shares of the company’s stock valued at $114,000 after buying an additional 4,871 shares in the last quarter. Rational Advisors LLC bought a new position in shares of Invacare Corp. during the second quarter valued at $124,000. Profund Advisors LLC bought a new position in shares of Invacare Corp. during the second quarter valued at $125,000. Thrivent Financial for Lutherans raised its position in shares of Invacare Corp. by 7.6% in the second quarter. Thrivent Financial for Lutherans now owns 14,820 shares of the company’s stock valued at $180,000 after buying an additional 1,050 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Invacare Corp. by 1.3% in the second quarter. Arizona State Retirement System now owns 15,624 shares of the company’s stock valued at $190,000 after buying an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 90.80% of the company’s stock.
Invacare Corp. 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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