Invacare Co. (NYSE:IVC) – Stock analysts at KeyCorp dropped their FY2017 earnings per share estimates for shares of Invacare in a research report issued on Wednesday. KeyCorp analyst M. Mishan now forecasts that the health services provider will post earnings per share of ($1.96) for the year, down from their prior forecast of ($1.93). KeyCorp currently has a “Buy” rating and a $20.00 price objective on the stock.
Several other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Invacare from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. ValuEngine raised shares of Invacare from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. Invacare has an average rating of “Hold” and a consensus target price of $16.00.
Invacare (NYSE:IVC) last released its quarterly earnings results on Tuesday, November 7th. The health services provider reported ($0.41) earnings per share for the quarter, topping the consensus estimate of ($0.43) by $0.02. Invacare had a negative net margin of 7.95% and a negative return on equity of 13.33%. The business had revenue of $250.91 million for the quarter, compared to analysts’ expectations of $239.88 million. During the same period in the previous year, the company earned ($0.37) earnings per share. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Thursday, January 4th were given a $0.0125 dividend. This represents a $0.05 annualized dividend and a yield of 0.30%. The ex-dividend date was Wednesday, January 3rd. Invacare’s dividend payout ratio is -2.13%.
A number of hedge funds have recently made changes to their positions in the business. Fox Run Management L.L.C. bought a new stake in Invacare in the fourth quarter worth about $238,000. Schwab Charles Investment Management Inc. raised its position in Invacare by 3.7% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 386,670 shares of the health services provider’s stock worth $6,516,000 after acquiring an additional 13,735 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its position in Invacare by 654.1% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,383,222 shares of the health services provider’s stock worth $37,535,000 after acquiring an additional 2,067,186 shares during the period. Perceptive Advisors LLC bought a new stake in Invacare in the third quarter worth about $3,950,000. Finally, Harvey Partners LLC raised its position in Invacare by 860.6% in the third quarter. Harvey Partners LLC now owns 126,800 shares of the health services provider’s stock worth $1,997,000 after acquiring an additional 113,600 shares during the period.
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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