Invacare (IVC) Stock Price Up -3.8% on Analyst Upgrade

Invacare Co. (NYSE:IVC) rose 3.8% on Friday after KeyCorp raised their price target on the stock from $20.00 to $21.00. KeyCorp currently has an overweight rating on the stock. Invacare traded as high as $19.05 and last traded at $17.80. Approximately 524,721 shares were traded during mid-day trading, an increase of 23% from the average daily volume of 427,688 shares. The stock had previously closed at $18.50.

Several other equities research analysts have also recently weighed in on IVC. Zacks Investment Research cut Invacare from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. ValuEngine raised Invacare from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $16.50.

Several institutional investors and hedge funds have recently bought and sold shares of IVC. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Invacare by 654.1% in 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 acquiring an additional 2,067,186 shares during the period. Northpointe Capital LLC lifted its position in Invacare by 96.8% in the third quarter. Northpointe Capital LLC now owns 1,151,700 shares of the health services provider’s stock worth $18,139,000 after purchasing an additional 566,574 shares during the period. Goldman Sachs Group Inc. lifted its position in Invacare by 326.4% in the second quarter. Goldman Sachs Group Inc. now owns 723,650 shares of the health services provider’s stock worth $9,552,000 after purchasing an additional 553,954 shares during the period. Keeley Teton Advisors LLC lifted its position in Invacare by 1,779.1% in the third quarter. Keeley Teton Advisors LLC now owns 442,715 shares of the health services provider’s stock worth $6,973,000 after purchasing an additional 419,155 shares during the period. Finally, Koch Industries Inc. bought a new position in Invacare in the second quarter worth $255,000.

The company has a market cap of $724.96, a PE ratio of -7.87 and a beta of 2.55. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.10 and a quick ratio of 1.57.

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 consensus estimate of ($0.44) by $0.02. The firm 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 quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the business earned ($0.46) earnings per share. analysts anticipate that Invacare Co. will post -1.16 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Thursday, January 4th were given a $0.0125 dividend. The ex-dividend date of this dividend was Wednesday, January 3rd. This represents a $0.05 annualized dividend and a yield of 0.27%. Invacare’s dividend payout ratio (DPR) is currently -2.13%.

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Invacare 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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