Invacare (IVC) Cut to “Sell” at ValuEngine

ValuEngine lowered shares of Invacare (NYSE:IVC) from a hold rating to a sell rating in a report issued on Tuesday morning.

Other analysts have also issued research reports about the stock. TheStreet lowered shares of Invacare from a c rating to a d+ rating in a research report on Friday, August 10th. Zacks Investment Research lowered shares of Invacare from a buy rating to a hold rating in a research report on Wednesday, July 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average price target of $21.50.

Shares of IVC stock traded down $0.36 during trading on Tuesday, hitting $7.14. 36,450 shares of the stock traded hands, compared to its average volume of 837,432. The firm has a market cap of $248.26 million, a PE ratio of -3.70 and a beta of 2.07. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.41 and a current ratio of 2.05. Invacare has a 52-week low of $6.93 and a 52-week high of $20.00.

Invacare (NYSE:IVC) last released its quarterly earnings results on Monday, November 5th. The health services provider reported ($0.40) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.10). The firm had revenue of $244.60 million for the quarter, compared to analysts’ expectations of $250.59 million. Invacare had a negative net margin of 6.17% and a negative return on equity of 12.98%. The firm’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.41) EPS. Equities research analysts predict that Invacare will post -1.28 EPS for the current fiscal year.

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

Hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. raised its position in Invacare by 3.0% in the first quarter. Principal Financial Group Inc. now owns 272,539 shares of the health services provider’s stock valued at $4,742,000 after purchasing an additional 7,895 shares during the period. Legal & General Group Plc raised its position in Invacare by 6.7% in the second quarter. Legal & General Group Plc now owns 65,335 shares of the health services provider’s stock valued at $1,223,000 after purchasing an additional 4,127 shares during the period. Victory Capital Management Inc. raised its position in Invacare by 5.1% in the second quarter. Victory Capital Management Inc. now owns 88,434 shares of the health services provider’s stock valued at $1,645,000 after purchasing an additional 4,305 shares during the period. Granahan Investment Management Inc. MA raised its position in Invacare by 9.1% in the second quarter. Granahan Investment Management Inc. MA now owns 709,499 shares of the health services provider’s stock valued at $13,197,000 after purchasing an additional 59,468 shares during the period. Finally, BlackRock Inc. raised its position in Invacare by 7.7% in the second quarter. BlackRock Inc. now owns 4,966,290 shares of the health services provider’s stock valued at $92,374,000 after purchasing an additional 356,975 shares during the period.

Invacare Company Profile

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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