KeyCorp reaffirmed their buy rating on shares of Invacare (NYSE:IVC) in a research report sent to investors on Thursday, March 15th.
Several other analysts have also recently commented on the company. ValuEngine raised Invacare from a sell rating to a hold rating in a research report on Thursday, March 1st. Zacks Investment Research raised Invacare from a sell rating to a hold rating in a research report on Wednesday, January 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $16.50.
Shares of Invacare stock traded up $0.05 during midday trading on Thursday, hitting $17.45. The company’s stock had a trading volume of 230,112 shares, compared to its average volume of 330,271. The stock has a market cap of $681.85, a PE ratio of -9.04 and a beta of 2.53. The company has a quick ratio of 1.54, a current ratio of 2.10 and a debt-to-equity ratio of 0.57. Invacare has a 1-year low of $10.20 and a 1-year high of $19.05.
Invacare (NYSE:IVC) last issued its earnings results on Wednesday, February 7th. The health services provider reported ($0.42) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.44) by $0.02. The business had revenue of $250.35 million during the quarter, compared to analysts’ expectations of $241.07 million. Invacare had a negative return on equity of 14.95% and a negative net margin of 7.92%. Invacare’s revenue was up 1.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.46) earnings per share. analysts expect that Invacare will post -1.15 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 18th. Investors of record on Wednesday, April 4th will be given a dividend of $0.0125 per share. The ex-dividend date of this dividend is Tuesday, April 3rd. This represents a $0.05 dividend on an annualized basis and a yield of 0.29%. Invacare’s payout ratio is -2.59%.
In related news, Director C Martin Harris sold 3,443 shares of Invacare stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $18.15, for a total transaction of $62,490.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Invacare by 654.1% during 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 purchasing an additional 2,067,186 shares during the last quarter. Royce & Associates LP boosted its position in Invacare by 11.4% during the fourth quarter. Royce & Associates LP now owns 1,574,733 shares of the health services provider’s stock valued at $26,534,000 after purchasing an additional 160,564 shares during the last quarter. Elk Creek Partners LLC boosted its position in Invacare by 17.5% during 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 purchasing an additional 129,676 shares during the last quarter. State Street Corp boosted its position in Invacare by 8.3% during the second quarter. State Street Corp now owns 837,448 shares of the health services provider’s stock valued at $11,054,000 after purchasing an additional 63,917 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its position in Invacare by 4.0% during the fourth quarter. Wells Fargo & Company MN now owns 481,277 shares of the health services provider’s stock valued at $8,109,000 after purchasing an additional 18,386 shares during the last quarter.
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Invacare Company Profile
Invacare Corporation, together with its subsidiaries, designs, manufactures, distributes, and exports medical equipment for use in home health care, retail, and extended care markets worldwide. The company operates through four segments: North America/Home Medical Equipment, Institutional Products Group, Europe, and the Asia/Pacific.
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