Investors Purchase Large Volume of Invacare Put Options (IVC)

Invacare Co. (NYSE:IVC) was the target of unusually large options trading activity on Tuesday. Traders acquired 2,159 put options on the company. This is an increase of 2,599% compared to the typical daily volume of 80 put options.

A number of hedge funds and other institutional investors have recently modified their holdings of IVC. Northern Trust Corp lifted its holdings in Invacare by 1.0% in the 1st quarter. Northern Trust Corp now owns 450,402 shares of the health services provider’s stock valued at $7,838,000 after purchasing an additional 4,580 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Invacare by 3.0% in the 1st quarter. Principal Financial Group Inc. now owns 272,539 shares of the health services provider’s stock valued at $4,742,000 after purchasing an additional 7,895 shares in the last quarter. Dalton Greiner Hartman Maher & Co. lifted its holdings in Invacare by 561.2% in the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 817,688 shares of the health services provider’s stock valued at $15,209,000 after purchasing an additional 694,027 shares in the last quarter. Contravisory Investment Management Inc. purchased a new position in Invacare in the 2nd quarter valued at about $159,000. Finally, Bank of Montreal Can lifted its holdings in Invacare by 7,076.0% in the 2nd quarter. Bank of Montreal Can now owns 7,463 shares of the health services provider’s stock valued at $139,000 after purchasing an additional 7,359 shares in the last quarter.

Shares of NYSE IVC opened at $7.47 on Wednesday. The stock has a market capitalization of $455.65 million, a P/E ratio of -3.87 and a beta of 2.07. Invacare has a 52 week low of $7.01 and a 52 week high of $20.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.41 and a current ratio of 2.10.

Invacare (NYSE:IVC) last issued its quarterly earnings data on Monday, November 5th. The health services provider reported ($0.40) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.10). The business had revenue of $244.60 million during the quarter, compared to analyst estimates of $250.59 million. Invacare had a negative net margin of 6.80% and a negative return on equity of 12.52%. Invacare’s revenue was down 2.5% on a year-over-year basis. During the same period in the previous year, the company posted ($0.41) earnings per share. As a group, equities research analysts expect that Invacare will post -1.28 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Investors of record on Friday, October 12th were paid a $0.0125 dividend. The ex-dividend date was Thursday, October 11th. This represents a $0.05 dividend on an annualized basis and a yield of 0.67%. Invacare’s payout ratio is -2.59%.

A number of equities research analysts recently commented on IVC shares. Zacks Investment Research cut shares of Invacare from a “buy” rating to a “hold” rating in a research note on Wednesday, July 11th. ValuEngine cut shares of Invacare from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 25th. Finally, TheStreet cut shares of Invacare from a “c” rating to a “d+” rating in a research note on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $21.50.

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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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