Invacare Corporation (IVC) Receives Consensus Recommendation of “Hold” from Analysts
Invacare Corporation (NYSE:IVC) has received a consensus rating of “Hold” from the six analysts that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $14.50.
A number of equities research analysts have issued reports on IVC shares. BidaskClub downgraded shares of Invacare Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. ValuEngine upgraded shares of Invacare Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. KeyCorp reiterated an “overweight” rating and issued a $17.00 target price on shares of Invacare Corporation in a research report on Tuesday, September 26th. Finally, Zacks Investment Research upgraded shares of Invacare Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday.
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In other news, SVP Dean J. Childers sold 6,249 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $15.15, for a total transaction of $94,672.35. Following the transaction, the senior vice president now owns 44,875 shares in the company, valued at approximately $679,856.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.20% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan raised its holdings in shares of Invacare Corporation by 4.3% during the 2nd 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 in the last quarter. 1st Global Advisors Inc. bought a new position in shares of Invacare Corporation during the 2nd quarter valued at $138,000. Leucadia National Corp bought a new position in shares of Invacare Corporation during the 2nd quarter valued at $161,000. Louisiana State Employees Retirement System raised its holdings in shares of Invacare Corporation by 1.6% during the 2nd 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 in the last quarter. Finally, BNP Paribas Arbitrage SA raised its holdings in shares of Invacare Corporation by 39.8% during the 2nd 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 in the last quarter.
Shares of Invacare Corporation (IVC) opened at 14.25 on Wednesday. The stock’s 50 day moving average is $14.74 and its 200 day moving average is $13.70. Invacare Corporation has a 52 week low of $8.00 and a 52 week high of $16.65. The stock’s market capitalization is $468.40 million.
Invacare Corporation (NYSE:IVC) last released its earnings results on Monday, August 7th. The health services provider reported ($0.63) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.42) by ($0.21). Invacare Corporation had a negative return on equity of 12.79% and a negative net margin of 6.42%. The company had revenue of $233.50 million during the quarter, compared to analysts’ expectations of $243.03 million. During the same quarter in the previous year, the company earned ($0.33) EPS. The firm’s quarterly revenue was down 15.1% compared to the same quarter last year. Analysts anticipate that Invacare Corporation will post ($1.87) EPS for the current fiscal year.
The firm 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 is Wednesday, October 4th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.35%. Invacare Corporation’s dividend payout ratio is currently -2.59%.
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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