Invacare (NYSE:IVC) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Invacare (NYSE:IVC) from a hold rating to a buy rating in a research note issued to investors on Wednesday, Zacks.com reports. Zacks Investment Research currently has $8.00 price objective on the health services provider’s stock.

According to Zacks, “Invacare Corporation is a leading manufacturer and distributor in its markets for medical equipment used in non-acute care settings. At its core, the company designs, manufactures and distributes medical devices that help people to move, breathe, rest and perform essential hygiene. The company provides clinically complex medical device solutions for congenital (e.g., cerebral palsy, muscular dystrophy, spina bifida), acquired (e.g., stroke, spinal cord injury, traumatic brain injury, post-acute recovery, pressure ulcers) and degenerative (e.g., ALS, multiple sclerosis, chronic obstructive pulmonary disease (COPD), elderly, bariatric) ailments. The company’s products are important parts of care for people with a wide range of challenges, from those who are active and involved in work or school each day and may need additional mobility or respiratory support, to those who are cared for in residential care settings, at home and in rehabilitation centers. “

Other analysts also recently issued reports about the stock. Needham & Company LLC restated a buy rating on shares of Invacare in a report on Tuesday, July 14th. ValuEngine downgraded shares of Invacare from a buy rating to a hold rating in a report on Monday, June 8th.

Shares of Invacare stock traded down $0.15 during trading on Wednesday, hitting $6.80. The stock had a trading volume of 200,592 shares, compared to its average volume of 416,176. The company has a quick ratio of 0.88, a current ratio of 1.41 and a debt-to-equity ratio of 0.79. The company has a market capitalization of $247.82 million, a PE ratio of -5.40 and a beta of 1.22. The stock has a 50 day simple moving average of $6.71 and a 200 day simple moving average of $6.94. Invacare has a 1 year low of $3.90 and a 1 year high of $11.63.

Invacare (NYSE:IVC) last announced its earnings results on Wednesday, August 5th. The health services provider reported ($0.21) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.06. The firm had revenue of $196.30 million for the quarter, compared to the consensus estimate of $196.00 million. Invacare had a negative net margin of 4.82% and a negative return on equity of 9.36%. During the same period last year, the company posted ($0.31) EPS. As a group, equities analysts expect that Invacare will post -0.72 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Marshall Wace North America L.P. grew its stake in shares of Invacare by 51.0% during the 2nd quarter. Marshall Wace North America L.P. now owns 416,467 shares of the health services provider’s stock worth $2,653,000 after acquiring an additional 140,736 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Invacare by 469.1% during the 2nd quarter. Bank of Montreal Can now owns 7,711 shares of the health services provider’s stock worth $48,000 after acquiring an additional 6,356 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of Invacare by 3.6% during the 2nd quarter. California Public Employees Retirement System now owns 74,583 shares of the health services provider’s stock worth $475,000 after acquiring an additional 2,600 shares in the last quarter. Eqis Capital Management Inc. bought a new position in shares of Invacare during the 2nd quarter worth approximately $168,000. Finally, Principal Financial Group Inc. grew its stake in shares of Invacare by 4.9% during the 2nd quarter. Principal Financial Group Inc. now owns 279,751 shares of the health services provider’s stock worth $1,782,000 after acquiring an additional 12,945 shares in the last quarter.

About Invacare

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 Europe, North America/Home Medical Equipment, Institutional Products Group, and the Asia/Pacific segments.

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