Invacare (IVC) Trading Down 3.7%

Invacare Co. (NYSE:IVC) shares fell 3.7% during mid-day trading on Wednesday . The company traded as low as $7.01 and last traded at $7.19. 67,290 shares were traded during mid-day trading, a decline of 84% from the average session volume of 409,610 shares. The stock had previously closed at $7.47.

A number of brokerages have issued reports on IVC. ValuEngine downgraded Invacare from a “hold” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research upgraded Invacare from a “sell” rating to a “hold” rating in a research note on Wednesday, October 17th. Finally, TheStreet downgraded Invacare from a “c” rating to a “d+” rating in a research note on Friday, August 10th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $21.50.

The company has a debt-to-equity ratio of 0.64, a current ratio of 2.10 and a quick ratio of 1.41. The stock has a market cap of $455.65 million, a P/E ratio of -3.62 and a beta of 2.07.

Invacare (NYSE:IVC) last issued its quarterly earnings results on Monday, November 5th. The health services provider reported ($0.40) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.10). Invacare had a negative net margin of 6.80% and a negative return on equity of 12.52%. The firm had revenue of $244.60 million for the quarter, compared to analysts’ expectations of $250.59 million. During the same period in the prior year, the company earned ($0.41) EPS. The firm’s quarterly revenue was down 2.5% on a year-over-year basis. As a group, analysts predict that Invacare Co. will post -1.28 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, October 26th. Stockholders of record on Friday, October 12th were given a dividend of $0.0125 per share. The ex-dividend date of this dividend was Thursday, October 11th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.70%. Invacare’s dividend payout ratio is presently -2.59%.

Several hedge funds and other institutional investors have recently modified their holdings of IVC. Northern Trust Corp lifted its position in shares of Invacare by 1.0% during the 1st quarter. Northern Trust Corp now owns 450,402 shares of the health services provider’s stock valued at $7,838,000 after buying an additional 4,580 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Invacare by 3.0% during the 1st quarter. Principal Financial Group Inc. now owns 272,539 shares of the health services provider’s stock valued at $4,742,000 after buying an additional 7,895 shares during the last quarter. Dalton Greiner Hartman Maher & Co. lifted its position in shares of Invacare by 561.2% during the 2nd quarter. Dalton Greiner Hartman Maher & Co. now owns 817,688 shares of the health services provider’s stock valued at $15,209,000 after buying an additional 694,027 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in shares of Invacare during the 2nd quarter valued at $159,000. Finally, Bank of Montreal Can lifted its position in shares of Invacare by 7,076.0% during the 2nd quarter. Bank of Montreal Can now owns 7,463 shares of the health services provider’s stock valued at $139,000 after buying an additional 7,359 shares during the last quarter.

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Invacare Company Profile (NYSE:IVC)

Invacare Corporation, together with its subsidiaries, designs, manufactures, distributes, and exports medical equipment for use in home health care, retail, and extended care markets worldwide. The company operates through four segments: North America/Home Medical Equipment, Institutional Products Group, Europe, and the Asia/Pacific.

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