Bank of New York Mellon Corp Sells 485,063 Shares of Invacare Corp. (IVC)

Bank of New York Mellon Corp cut its position in shares of Invacare Corp. (NYSE:IVC) by 59.7% during the second quarter, Holdings Channel reports. The firm owned 326,918 shares of the company’s stock after selling 485,063 shares during the period. Bank of New York Mellon Corp owned approximately 1.02% of Invacare Corp. worth $3,965,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. BlackRock Fund Advisors raised its stake in Invacare Corp. by 2.6% in the first quarter. BlackRock Fund Advisors now owns 2,141,482 shares of the company’s stock worth $28,203,000 after buying an additional 54,587 shares during the period. Spark Investment Management LLC raised its stake in Invacare Corp. by 573.1% in the first quarter. Spark Investment Management LLC now owns 150,100 shares of the company’s stock worth $1,976,000 after buying an additional 127,800 shares during the period. Franklin Resources Inc. raised its stake in Invacare Corp. by 16.9% in the first quarter. Franklin Resources Inc. now owns 2,494,237 shares of the company’s stock worth $32,849,000 after buying an additional 360,000 shares during the period. Acadian Asset Management LLC raised its stake in Invacare Corp. by 1,926.9% in the first quarter. Acadian Asset Management LLC now owns 122,059 shares of the company’s stock worth $1,608,000 after buying an additional 116,037 shares during the period. Finally, Eqis Capital Management Inc. bought a new stake in Invacare Corp. during the second quarter worth $319,000. 90.80% of the stock is owned by institutional investors.

Invacare Corp. (NYSE:IVC) traded down 0.18% during midday trading on Tuesday, hitting $10.98. The stock had a trading volume of 137,419 shares. The stock’s 50-day moving average is $11.78 and its 200-day moving average is $12.02. The company’s market capitalization is $356.51 million. Invacare Corp. has a 1-year low of $9.89 and a 1-year high of $20.41.

Invacare Corp. (NYSE:IVC) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.24) by $0.09. Invacare Corp. had a negative return on equity of 5.16% and a negative net margin of 2.81%. The company earned $275 million during the quarter, compared to analyst estimates of $270.10 million. During the same quarter in the prior year, the company posted ($0.23) earnings per share. The business’s revenue was down 3.9% compared to the same quarter last year. Equities research analysts forecast that Invacare Corp. will post ($0.95) EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Thursday, October 13th will be issued a $0.0125 dividend. The ex-dividend date of this dividend is Tuesday, October 11th. This represents a $0.05 annualized dividend and a dividend yield of 0.46%. Invacare Corp.’s dividend payout ratio is currently -5.21%.

Separately, Zacks Investment Research raised Invacare Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 26th.

Invacare Corp. 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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