Invacare Corp. (NYSE:IVC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
According to Zacks, “Invacare Corporation is the world’s leading manufacturer and distributor of non-acute health care products based upon its distribution channels, the breadth of its product line and sales. The company designs, manufactures and distributes an extensive line of health care products for the non-acute care environment including the home health care, retail and extended care markets. The company’s products are sold through its world-wide distribution network byits sales force, telemarketing employees and various organizations of independent manufacturer’s representatives. “
Invacare Corp. (NYSE:IVC) opened at 10.96 on Wednesday. Invacare Corp. has a 12-month low of $9.89 and a 12-month high of $20.41. The firm’s market capitalization is $355.86 million. The firm has a 50 day moving average of $11.69 and a 200 day moving average of $11.99.
Invacare Corp. (NYSE:IVC) last announced 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. The company had revenue of $275 million for the quarter, compared to analyst estimates of $270.10 million. Invacare Corp. had a negative return on equity of 5.16% and a negative net margin of 2.81%. The business’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same period last year, the business earned ($0.23) EPS. On average, analysts forecast that Invacare Corp. will post ($0.95) EPS for the current fiscal 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 given a dividend of $0.0125 per share. This represents a $0.05 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend is Tuesday, October 11th. Invacare Corp.’s dividend payout ratio (DPR) is -5.21%.
Several hedge funds have recently made changes to their positions in IVC. Balter Liquid Alternatives LLC bought a new stake in shares of Invacare Corp. during the second quarter valued at approximately $1,629,000. Schwab Charles Investment Management Inc. boosted its position in shares of Invacare Corp. by 18.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 266,363 shares of the company’s stock worth $3,231,000 after buying an additional 41,376 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Invacare Corp. by 1.3% in the second quarter. Arizona State Retirement System now owns 15,624 shares of the company’s stock worth $190,000 after buying an additional 200 shares in the last quarter. Panagora Asset Management Inc. boosted its position in shares of Invacare Corp. by 31.4% in the second quarter. Panagora Asset Management Inc. now owns 42,511 shares of the company’s stock worth $516,000 after buying an additional 10,163 shares in the last quarter. Finally, Schneider Capital Management Corp purchased a new position in shares of Invacare Corp. during the second quarter worth about $1,777,000. 90.80% of the stock is owned by institutional investors.
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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