Invacare Co. (NYSE:IVC) Chairman Matthew E. Monaghan bought 13,750 shares of the business’s stock in a transaction on Thursday, November 8th. The shares were purchased at an average cost of $7.26 per share, with a total value of $99,825.00. Following the transaction, the chairman now owns 243,897 shares in the company, valued at $1,770,692.22. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of IVC traded down $0.57 during trading hours on Friday, reaching $6.93. 1,232,317 shares of the company traded hands, compared to its average volume of 421,801. The firm has a market capitalization of $248.26 million, a P/E ratio of -3.59 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 Co. has a 1-year low of $6.76 and a 1-year high of $20.00.
Invacare (NYSE:IVC) last announced its quarterly earnings data on Monday, November 5th. The health services provider reported ($0.40) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.30) by ($0.10). The company had revenue of $244.60 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the company posted ($0.41) EPS. As a group, equities analysts forecast that Invacare Co. will post -1.28 earnings per share for the current year.
A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Invacare from a “sell” rating to a “hold” rating in a research report on Wednesday, October 17th. ValuEngine raised shares of Invacare from a “hold” rating to a “buy” rating in a research report on Tuesday, October 2nd. Finally, TheStreet lowered shares of Invacare from a “c” rating to a “d+” rating in a research report on Friday, August 10th. One investment 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’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $21.50.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can increased its stake in Invacare by 7,076.0% in the second quarter. Bank of Montreal Can now owns 7,463 shares of the health services provider’s stock valued at $139,000 after acquiring an additional 7,359 shares during the period. Piedmont Investment Advisors LLC bought a new stake in Invacare in the second quarter valued at about $144,000. Contravisory Investment Management Inc. bought a new stake in Invacare in the second quarter valued at about $159,000. Brown Advisory Inc. bought a new stake in Invacare in the second quarter valued at about $207,000. Finally, SG Americas Securities LLC bought a new stake in Invacare in the second quarter valued at about $234,000.
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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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