State Board of Administration of Florida Retirement System cut its position in Invacare Corp. (NYSE:IVC) by 0.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,922 shares of the company’s stock after selling 26 shares during the period. State Board of Administration of Florida Retirement System owned approximately 0.09% of Invacare Corp. worth $351,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its stake in shares of Invacare Corp. by 108.2% in the second quarter. BNP Paribas Arbitrage SA now owns 9,371 shares of the company’s stock worth $114,000 after buying an additional 4,871 shares during the period. Menta Capital LLC acquired a new stake in shares of Invacare Corp. during the first quarter worth about $212,000. Royal Bank of Canada boosted its stake in shares of Invacare Corp. by 4.3% in the first quarter. Royal Bank of Canada now owns 16,233 shares of the company’s stock worth $214,000 after buying an additional 670 shares during the period. Springbok Capital Management LLC boosted its stake in shares of Invacare Corp. by 78.4% in the first quarter. Springbok Capital Management LLC now owns 22,300 shares of the company’s stock worth $294,000 after buying an additional 9,800 shares during the period. Finally, DIAM Co. Ltd. boosted its stake in shares of Invacare Corp. by 80.7% in the second quarter. DIAM Co. Ltd. now owns 24,400 shares of the company’s stock valued at $296,000 after buying an additional 10,900 shares during the last quarter.
Invacare Corp. (NYSE:IVC) traded down 0.18% during midday trading on Wednesday, hitting $11.40. 22,262 shares of the stock traded hands. The company’s market cap is $370.15 million. Invacare Corp. has a 52-week low of $9.89 and a 52-week high of $20.41. The firm’s 50-day moving average is $11.58 and its 200-day moving average is $11.93.
Invacare Corp. (NYSE:IVC) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.33) earnings per share (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 the consensus estimate of $270.10 million. Invacare Corp. had a negative net margin of 2.81% and a negative return on equity of 5.16%. The company’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.23) EPS. Analysts predict 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 given a dividend of $0.0125 per share. This represents a $0.05 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Tuesday, October 11th. Invacare Corp.’s payout ratio is currently -5.21%.
Several equities research analysts have weighed in on IVC shares. KeyCorp set a $17.00 price target on shares of Invacare Corp. and gave the company a “buy” rating in a research report on Thursday, October 6th. Zacks Investment Research raised shares of Invacare Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, September 28th.
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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