California Public Employees Retirement System lowered its stake in Invacare Corporation (NYSE:IVC) by 15.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 153,428 shares of the health services provider’s stock after selling 28,900 shares during the quarter. California Public Employees Retirement System owned 0.48% of Invacare Corporation worth $2,025,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in the company. Elk Creek Partners LLC purchased a new position in Invacare Corporation during the 2nd quarter worth $9,760,000. Northpointe Capital LLC purchased a new stake in shares of Invacare Corporation during the second quarter valued at approximately $7,724,000. Marshall Wace North America L.P. boosted its stake in shares of Invacare Corporation by 688.0% during the second quarter. Marshall Wace North America L.P. now owns 511,462 shares of the health services provider’s stock valued at $6,649,000 after purchasing an additional 446,558 shares during the period. Vanguard Group Inc. boosted its stake in shares of Invacare Corporation by 7.1% during the first quarter. Vanguard Group Inc. now owns 2,827,234 shares of the health services provider’s stock valued at $33,644,000 after purchasing an additional 187,697 shares during the period. Finally, Boston Partners boosted its stake in shares of Invacare Corporation by 116.6% during the second quarter. Boston Partners now owns 299,970 shares of the health services provider’s stock valued at $3,959,000 after purchasing an additional 161,500 shares during the period. Institutional investors own 94.65% of the company’s stock.
Invacare Corporation (IVC) opened at $17.45 on Friday. Invacare Corporation has a 12 month low of $9.90 and a 12 month high of $17.95. The company has a current ratio of 2.28, a quick ratio of 1.53 and a debt-to-equity ratio of 0.55.
Invacare Corporation (NYSE:IVC) last issued its earnings results on Tuesday, November 7th. The health services provider reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.02. Invacare Corporation had a negative return on equity of 13.33% and a negative net margin of 7.95%. The company had revenue of $250.91 million for the quarter, compared to the consensus estimate of $239.88 million. During the same quarter last year, the company earned ($0.37) EPS. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. analysts predict that Invacare Corporation will post -1.93 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 16th. Stockholders of record on Thursday, October 5th were issued a $0.0125 dividend. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date was Wednesday, October 4th. Invacare Corporation’s dividend payout ratio (DPR) is -2.13%.
A number of brokerages recently commented on IVC. KeyCorp restated a “buy” rating and set a $18.00 target price on shares of Invacare Corporation in a report on Friday. Zacks Investment Research upgraded Invacare Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. ValuEngine upgraded Invacare Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Finally, BidaskClub downgraded Invacare Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.00.
In other news, SVP Dean J. Childers sold 6,249 shares of Invacare Corporation 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 transaction, the senior vice president now owns 44,875 shares in the company, valued at approximately $679,856.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by insiders.
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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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