Invacare Corporation (NYSE:IVC) Announces Quarterly Earnings Results
Invacare Corporation (NYSE:IVC) announced its quarterly earnings data on Monday. The health services provider reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.42) by $0.21, RTT News reports. Invacare Corporation had a negative net margin of 4.99% and a negative return on equity of 10.12%. The firm had revenue of $233.50 million for the quarter, compared to the consensus estimate of $243.03 million. During the same period last year, the company posted ($0.33) earnings per share. Invacare Corporation’s revenue for the quarter was down 15.1% on a year-over-year basis.
Invacare Corporation (IVC) traded down 3.61% during trading on Monday, hitting $14.70. The stock had a trading volume of 630,555 shares. The company has a 50-day moving average price of $13.32 and a 200-day moving average price of $12.75. Invacare Corporation has a 52-week low of $8.00 and a 52-week high of $16.65. The company’s market cap is $481.91 million.
The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Monday, July 3rd were issued a $0.0125 dividend. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Thursday, June 29th. Invacare Corporation’s payout ratio is currently -3.18%.
In other news, Director Dale C. Laporte sold 2,737 shares of the business’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $14.95, for a total transaction of $40,918.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.20% of the company’s stock.
IVC has been the subject of a number of analyst reports. Zacks Investment Research raised Invacare Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, April 11th. Stephens raised Invacare Corporation from an “equal weight” rating to an “overweight” rating in a report on Friday, April 28th. ValuEngine raised Invacare Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Sidoti reaffirmed a “neutral” rating and issued a $12.00 price target (down from $14.00) on shares of Invacare Corporation in a report on Monday, June 12th. Finally, BidaskClub lowered Invacare Corporation from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $14.50.
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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