Invacare (IVC) Raised to “Hold” at ValuEngine

ValuEngine upgraded shares of Invacare (NYSE:IVC) from a sell rating to a hold rating in a research note released on Sunday, December 31st.

Several other research analysts also recently weighed in on IVC. KeyCorp reissued a buy rating and issued a $20.00 target price on shares of Invacare in a research report on Thursday, December 21st. Zacks Investment Research downgraded shares of Invacare from a hold rating to a sell rating in a research report on Tuesday, November 14th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Invacare has an average rating of Hold and an average price target of $16.00.

Shares of Invacare (NYSE IVC) opened at $17.05 on Friday. The firm has a market cap of $558.80, a PE ratio of -7.29 and a beta of 2.45. Invacare has a 52-week low of $9.90 and a 52-week high of $17.95. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.28 and a quick ratio of 1.57.

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

The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Thursday, January 4th were paid a $0.0125 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend was Wednesday, January 3rd. Invacare’s dividend payout ratio (DPR) is presently -2.14%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Municipal Employees Retirement System of Michigan raised its position in shares of Invacare by 4.3% in the second 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 during the period. 1st Global Advisors Inc. bought a new position in shares of Invacare in the second quarter valued at approximately $138,000. BNP Paribas Arbitrage SA raised its position in shares of Invacare by 39.8% in the second 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 during the period. Arizona State Retirement System raised its position in shares of Invacare by 1.2% in the second quarter. Arizona State Retirement System now owns 16,724 shares of the health services provider’s stock valued at $221,000 after purchasing an additional 200 shares during the period. Finally, AXA bought a new position in shares of Invacare in the second quarter valued at approximately $224,000.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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