Invacare Corporation (IVC) Receives Consensus Rating of “Hold” from Brokerages
Shares of Invacare Corporation (NYSE:IVC) have been given an average recommendation of “Hold” by the six research firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $14.50.
Several equities research analysts have recently issued reports on the company. ValuEngine upgraded Invacare Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Zacks Investment Research lowered Invacare Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 16th. Sidoti reiterated a “neutral” rating and set 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.
Invacare Corporation (NYSE IVC) traded up 2.500% during mid-day trading on Tuesday, reaching $15.375. 229,578 shares of the company were exchanged. Invacare Corporation has a 12 month low of $8.00 and a 12 month high of $16.65. The company’s market cap is $505.38 million. The stock’s 50-day moving average is $14.18 and its 200-day moving average is $13.22.
Invacare Corporation (NYSE:IVC) last announced its quarterly earnings results on Monday, August 7th. The health services provider reported ($0.63) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.21). The firm had revenue of $233.50 million for the quarter, compared to analyst estimates of $243.03 million. Invacare Corporation had a negative net margin of 6.42% and a negative return on equity of 12.79%. The firm’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.33) earnings per share. Equities analysts expect that Invacare Corporation will post ($1.87) earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Thursday, October 5th will be issued a dividend of $0.0125 per share. The ex-dividend date of this dividend is Wednesday, October 4th. This represents a $0.05 annualized dividend and a dividend yield of 0.33%. Invacare Corporation’s dividend payout ratio is -2.59%.
In related news, SVP Dean J. Childers sold 6,249 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $15.15, for a total value of $94,672.35. Following the completion of the sale, the senior vice president now directly owns 44,875 shares in the company, valued at approximately $679,856.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.60% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Louisiana State Employees Retirement System lifted its holdings in Invacare Corporation by 0.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 12,900 shares of the health services provider’s stock worth $154,000 after purchasing an additional 100 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Invacare Corporation by 0.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,974 shares of the health services provider’s stock worth $343,000 after purchasing an additional 119 shares during the last quarter. Legal & General Group Plc lifted its holdings in Invacare Corporation by 0.3% in the 1st quarter. Legal & General Group Plc now owns 52,617 shares of the health services provider’s stock worth $627,000 after purchasing an additional 159 shares during the last quarter. Prudential Financial Inc. lifted its holdings in Invacare Corporation by 0.4% in the 1st quarter. Prudential Financial Inc. now owns 53,753 shares of the health services provider’s stock worth $640,000 after purchasing an additional 200 shares during the last quarter. Finally, Arizona State Retirement System lifted its holdings in Invacare Corporation by 1.2% in the 1st quarter. Arizona State Retirement System now owns 16,524 shares of the health services provider’s stock worth $197,000 after purchasing an additional 200 shares during the last quarter.
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Invacare Corporation 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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