KeyCorp Reaffirms Buy Rating for Invacare (NYSE:IVC)

KeyCorp restated their buy rating on shares of Invacare (NYSE:IVC) in a report issued on Thursday, December 21st. KeyCorp currently has a $20.00 target price on the health services provider’s stock.

Separately, Zacks Investment Research upgraded shares of Invacare from a sell rating to a hold rating in a report on Wednesday, October 11th. Two 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. The stock has a consensus rating of Hold and a consensus target price of $16.00.

Invacare (NYSE:IVC) opened at $17.05 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.57 and a current ratio of 2.28. Invacare has a one year low of $9.90 and a one year high of $17.95. The company has a market cap of $658.34, a P/E ratio of -7.26 and a beta of 2.45.

Invacare (NYSE:IVC) last issued its earnings results on Tuesday, November 7th. The health services provider reported ($0.41) EPS 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 company had revenue of $250.91 million for the quarter, compared to the consensus estimate of $239.88 million. During the same period in the previous year, the firm earned ($0.37) earnings per share. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. sell-side analysts predict that Invacare will post -2.12 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Thursday, January 4th will be issued a dividend of $0.0125 per share. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend is Wednesday, January 3rd. Invacare’s dividend payout ratio (DPR) is presently -2.13%.

Several hedge funds have recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Invacare by 654.1% during the 3rd 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 buying an additional 2,067,186 shares in the last quarter. Perceptive Advisors LLC purchased a new position in shares of Invacare in the 3rd quarter worth about $3,950,000. Harvey Partners LLC raised its position in shares of Invacare by 860.6% in the 3rd quarter. Harvey Partners LLC now owns 126,800 shares of the health services provider’s stock worth $1,997,000 after purchasing an additional 113,600 shares during the last quarter. Keeley Teton Advisors LLC raised its position in shares of Invacare by 1,779.1% in the 3rd quarter. Keeley Teton Advisors LLC now owns 442,715 shares of the health services provider’s stock worth $6,973,000 after purchasing an additional 419,155 shares during the last quarter. Finally, Royce & Associates LP raised its position in shares of Invacare by 4.4% in the 3rd quarter. Royce & Associates LP now owns 1,414,169 shares of the health services provider’s stock worth $22,273,000 after purchasing an additional 59,430 shares during the last quarter. Hedge funds and other 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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