Invacare Corp. (IVC) Given a $17.00 Price Target by KeyCorp Analysts
Invacare Corp. (NYSE:IVC) received a $17.00 price objective from KeyCorp in a report released on Thursday. The firm presently has a a “buy” rating on the stock. KeyCorp’s price objective would indicate a potential upside of 46.80% from the stock’s previous close.
Separately, Zacks Investment Research downgraded Invacare Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 2nd.
Invacare Corp. (NYSE:IVC) traded up 1.12% during mid-day trading on Thursday, hitting $11.71. The stock had a trading volume of 727,315 shares. The stock’s market cap is $380.21 million. The stock’s 50-day moving average price is $11.58 and its 200-day moving average price is $11.94. Invacare Corp. has a 12 month low of $9.89 and a 12 month high of $20.41.
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Invacare Corp. (NYSE:IVC) last issued 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 business had revenue of $275 million for the quarter, compared to the consensus estimate of $270.10 million. Invacare Corp. had a negative net margin of 2.81% and a negative return on equity of 5.16%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the business posted ($0.23) EPS. On average, analysts predict that Invacare Corp. will post ($0.95) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Thursday, October 13th will be paid a $0.0125 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Tuesday, October 11th. Invacare Corp.’s payout ratio is -5.21%.
A number of hedge funds have recently added to or reduced their stakes in the company. Arizona State Retirement System increased its stake in Invacare Corp. by 1.3% in the second quarter. Arizona State Retirement System now owns 15,624 shares of the company’s stock worth $190,000 after buying an additional 200 shares during the last quarter. Victory Capital Management Inc. increased its stake in Invacare Corp. by 0.8% in the second quarter. Victory Capital Management Inc. now owns 44,760 shares of the company’s stock worth $543,000 after buying an additional 355 shares during the last quarter. Royal Bank of Canada increased its stake in Invacare Corp. by 4.3% in the first quarter. Royal Bank of Canada now owns 16,233 shares of the company’s stock worth $214,000 after buying an additional 670 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Invacare Corp. by 7.6% in the second quarter. Thrivent Financial for Lutherans now owns 14,820 shares of the company’s stock worth $180,000 after buying an additional 1,050 shares during the last quarter. Finally, Alliancebernstein L.P. increased its stake in Invacare Corp. by 2.8% in the second quarter. Alliancebernstein L.P. now owns 45,786 shares of the company’s stock worth $555,000 after buying an additional 1,245 shares during the last quarter. 90.80% of the stock is currently owned by institutional investors and hedge funds.
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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