Invacare Co. (IVC) Receives Average Recommendation of “Hold” from Brokerages

Invacare Co. (NYSE:IVC) has received an average rating of “Hold” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $16.50.

A number of equities research analysts have weighed in on IVC shares. KeyCorp reaffirmed a “buy” rating and set a $18.00 target price on shares of Invacare in a research report on Friday, November 10th. Zacks Investment Research lowered Invacare from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Finally, ValuEngine raised Invacare from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st.

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Shares of Invacare (IVC) opened at $17.85 on Friday. Invacare has a one year low of $10.20 and a one year high of $19.05. The company has a current ratio of 2.10, a quick ratio of 1.54 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $587.78, a P/E ratio of -7.79 and a beta of 2.50.

Invacare (NYSE:IVC) last issued its quarterly earnings results on Wednesday, February 7th. The health services provider reported ($0.42) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.44) by $0.02. The firm had revenue of $250.35 million during the quarter, compared to analyst estimates 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 company earned ($0.46) EPS. analysts anticipate that Invacare will post -1.16 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 18th. Shareholders of record on Wednesday, April 4th will be given a dividend of $0.0125 per share. This represents a $0.05 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Tuesday, April 3rd. Invacare’s dividend payout ratio (DPR) is presently -2.18%.

In other Invacare news, Director C Martin Harris sold 3,443 shares of Invacare stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $18.15, for a total transaction of $62,490.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Invacare by 654.1% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,383,222 shares of the health services provider’s stock worth $37,535,000 after acquiring an additional 2,067,186 shares in the last quarter. Royce & Associates LP raised its position in shares of Invacare by 11.4% in the 4th quarter. Royce & Associates LP now owns 1,574,733 shares of the health services provider’s stock worth $26,534,000 after acquiring an additional 160,564 shares in the last quarter. Elk Creek Partners LLC raised its position in shares of Invacare by 17.5% in the 3rd quarter. Elk Creek Partners LLC now owns 869,081 shares of the health services provider’s stock worth $13,688,000 after acquiring an additional 129,676 shares in the last quarter. State Street Corp raised its position in shares of Invacare by 8.3% in the 2nd quarter. State Street Corp now owns 837,448 shares of the health services provider’s stock worth $11,054,000 after acquiring an additional 63,917 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Invacare by 4.0% in the 4th quarter. Wells Fargo & Company MN now owns 481,277 shares of the health services provider’s stock worth $8,109,000 after acquiring an additional 18,386 shares in the last quarter.

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About Invacare

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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