Invacare Corp. (IVC) Stock Rating Upgraded by Zacks Investment Research
Invacare Corp. (NYSE:IVC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Invacare Corporation is the world’s leading manufacturer and distributor of non-acute health care products based upon its distribution channels, the breadth of its product line and sales. The company designs, manufactures and distributes an extensive line of health care products for the non-acute care environment including the home health care, retail and extended care markets. The company’s products are sold through its world-wide distribution network byits sales force, telemarketing employees and various organizations of independent manufacturer’s representatives. “
Invacare Corp. (NYSE:IVC) opened at 10.98 on Wednesday. The stock’s market capitalization is $356.51 million. Invacare Corp. has a 12 month low of $9.89 and a 12 month high of $20.41. The stock has a 50 day moving average price of $11.76 and a 200 day moving average price of $12.00.
Invacare Corp. (NYSE:IVC) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.24) by $0.09. The company earned $275 million during the quarter, compared to analysts’ expectations of $270.10 million. Invacare Corp. had a negative return on equity of 5.16% and a negative net margin of 2.81%. The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.23) EPS. On average, equities research analysts forecast that Invacare Corp. will post ($0.95) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Thursday, October 13th will be paid a $0.0125 dividend. The ex-dividend date is Tuesday, October 11th. This represents a $0.05 annualized dividend and a dividend yield of 0.46%. Invacare Corp.’s payout ratio is currently -5.21%.
Several hedge funds have recently bought and sold shares of IVC. Franklin Resources Inc. increased its stake in Invacare Corp. by 16.9% in the first quarter. Franklin Resources Inc. now owns 2,494,237 shares of the company’s stock valued at $32,849,000 after buying an additional 360,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Invacare Corp. by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,475,603 shares of the company’s stock valued at $30,029,000 after buying an additional 15,633 shares during the period. Vanguard Group Inc. boosted its position in Invacare Corp. by 3.8% in the second quarter. Vanguard Group Inc. now owns 2,429,363 shares of the company’s stock valued at $29,468,000 after buying an additional 89,667 shares during the period. BlackRock Fund Advisors boosted its position in Invacare Corp. by 7.8% in the second quarter. BlackRock Fund Advisors now owns 2,308,515 shares of the company’s stock valued at $28,002,000 after buying an additional 167,033 shares during the period. Finally, Brandes Investment Partners LP boosted its position in Invacare Corp. by 754.3% in the second quarter. Brandes Investment Partners LP now owns 951,052 shares of the company’s stock valued at $11,536,000 after buying an additional 839,722 shares during the period. Institutional investors own 90.80% of the company’s stock.
Invacare Corp. Company Profile
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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