Invacare (IVC) Trading Up -3.8% Following Analyst Upgrade

Invacare Co. (NYSE:IVC) shares rose 3.8% during trading on Friday after KeyCorp raised their price target on the stock from $20.00 to $21.00. KeyCorp currently has an overweight rating on the stock. Invacare traded as high as $19.05 and last traded at $17.80. Approximately 524,721 shares traded hands during trading, an increase of 23% from the average daily volume of 427,688 shares. The stock had previously closed at $18.50.

A number of other analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Invacare from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. ValuEngine upgraded shares of Invacare from a “sell” rating to a “hold” rating in a research note on Sunday, December 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Invacare presently has a consensus rating of “Hold” and a consensus price target of $16.50.

A number of hedge funds and other institutional investors have recently bought and sold shares of IVC. Arizona State Retirement System increased its position in Invacare by 224.1% during the fourth quarter. Arizona State Retirement System now owns 55,179 shares of the health services provider’s stock worth $930,000 after acquiring an additional 38,155 shares during the period. Wells Fargo & Company MN increased its holdings in Invacare by 4.0% in the 4th quarter. Wells Fargo & Company MN now owns 481,277 shares of the health services provider’s stock valued at $8,109,000 after buying an additional 18,386 shares during the period. Balter Liquid Alternatives LLC increased its holdings in Invacare by 22.0% in the 4th quarter. Balter Liquid Alternatives LLC now owns 71,881 shares of the health services provider’s stock valued at $1,211,000 after buying an additional 12,939 shares during the period. KBC Group NV bought a new stake in Invacare in the 4th quarter valued at $470,000. Finally, Teacher Retirement System of Texas bought a new stake in Invacare in the 4th quarter valued at $192,000.

The stock has a market cap of $672.06, a price-to-earnings ratio of -7.87 and a beta of 2.55. 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 (NYSE:IVC) last announced its quarterly earnings results on Wednesday, February 7th. The health services provider reported ($0.42) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.44) by $0.02. The firm had revenue of $250.35 million for the quarter, compared to analyst estimates of $241.07 million. Invacare had a negative net margin of 7.95% and a negative return on equity of 13.33%. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.46) EPS. equities research analysts forecast that Invacare Co. will post -1.96 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Thursday, January 4th were issued a $0.0125 dividend. This represents a $0.05 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Wednesday, January 3rd. Invacare’s dividend payout ratio (DPR) is presently -2.13%.

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Invacare 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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