ValuEngine Upgrades Invacare (IVC) to “Hold”

Invacare (NYSE:IVC) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Sunday.

Several other equities analysts also recently commented on IVC. KeyCorp reiterated a “buy” rating and set a $18.00 price target on shares of Invacare in a report on Friday, November 10th. Zacks Investment Research downgraded Invacare from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $16.00.

Invacare (IVC) opened at $16.85 on Friday. Invacare has a twelve month low of $9.90 and a twelve month high of $17.95. The company has a market capitalization of $660.30, a P/E ratio of -7.17 and a beta of 2.45. The company has a quick ratio of 1.57, a current ratio of 2.28 and a debt-to-equity ratio of 0.55.

Invacare (NYSE:IVC) last released its quarterly earnings data on Tuesday, November 7th. The health services provider reported ($0.41) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.02. Invacare had a negative return on equity of 13.33% and a negative net margin of 7.95%. The firm had revenue of $250.91 million for the quarter, compared to the consensus estimate of $239.88 million. During the same quarter in the prior year, the company posted ($0.37) earnings per share. The firm’s revenue was down 6.4% on a year-over-year basis. analysts expect that Invacare will post -2.12 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in IVC. Vanguard Group Inc. boosted its position in shares of Invacare by 3.8% in the second quarter. Vanguard Group Inc. now owns 2,934,593 shares of the health services provider’s stock valued at $38,736,000 after acquiring an additional 107,359 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of 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 valued at $37,535,000 after acquiring an additional 2,067,186 shares during the period. Royce & Associates LP boosted its position in shares of Invacare by 4.4% in the third quarter. Royce & Associates LP now owns 1,414,169 shares of the health services provider’s stock valued at $22,273,000 after acquiring an additional 59,430 shares during the period. Northpointe Capital LLC boosted its position in shares of Invacare by 96.8% in the third quarter. Northpointe Capital LLC now owns 1,151,700 shares of the health services provider’s stock valued at $18,139,000 after acquiring an additional 566,574 shares during the period. Finally, Elk Creek Partners LLC boosted its position in shares of Invacare by 17.5% in the third quarter. Elk Creek Partners LLC now owns 869,081 shares of the health services provider’s stock valued at $13,688,000 after acquiring an additional 129,676 shares during the period. Institutional investors own 94.65% of the company’s stock.

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About Invacare

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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