Brandes Investment Partners LP Has $20.23 Million Stake in Invacare Corporation (IVC)
Brandes Investment Partners LP lowered its stake in Invacare Corporation (NYSE:IVC) by 24.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,532,394 shares of the health services provider’s stock after selling 486,355 shares during the period. Brandes Investment Partners LP owned 4.78% of Invacare Corporation worth $20,227,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. raised its position in shares of Invacare Corporation by 0.9% in the second quarter. Principal Financial Group Inc. now owns 254,554 shares of the health services provider’s stock valued at $3,360,000 after buying an additional 2,295 shares in the last quarter. Leucadia National Corp bought a new position in shares of Invacare Corporation during the second quarter valued at about $161,000. Royce & Associates LP raised its position in shares of Invacare Corporation by 11.8% in the second quarter. Royce & Associates LP now owns 1,354,739 shares of the health services provider’s stock valued at $17,883,000 after buying an additional 143,027 shares in the last quarter. Victory Capital Management Inc. bought a new position in shares of Invacare Corporation during the second quarter valued at about $1,148,000. Finally, Marshall Wace North America L.P. raised its position in shares of Invacare Corporation by 688.0% in the second quarter. Marshall Wace North America L.P. now owns 511,462 shares of the health services provider’s stock valued at $6,649,000 after buying an additional 446,558 shares in the last quarter.
Shares of Invacare Corporation (IVC) opened at 13.75 on Friday. Invacare Corporation has a one year low of $8.00 and a one year high of $16.65. The firm’s 50-day moving average price is $13.97 and its 200-day moving average price is $13.08. The firm’s market capitalization is $451.96 million.
Invacare Corporation (NYSE:IVC) last issued its quarterly earnings data on Monday, August 7th. The health services provider reported ($0.63) EPS for the quarter, missing the consensus estimate of ($0.42) by $0.21. Invacare Corporation had a negative net margin of 6.42% and a negative return on equity of 12.79%. The firm had revenue of $233.50 million for the quarter, compared to the consensus estimate of $243.03 million. During the same period last year, the company posted ($0.33) earnings per share. The business’s revenue was down 15.1% on a year-over-year basis. On average, equities analysts forecast that Invacare Corporation will post ($1.87) earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Thursday, October 5th will be given a dividend of $0.0125 per share. This represents a $0.05 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Wednesday, October 4th. Invacare Corporation’s dividend payout ratio is currently -2.59%.
Several research analysts recently issued reports on the company. ValuEngine raised Invacare Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. BidaskClub lowered Invacare Corporation from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Zacks Investment Research lowered Invacare Corporation from a “hold” rating to a “sell” rating in a research report on Friday, June 16th. Finally, Sidoti reaffirmed a “neutral” rating and set a $12.00 target price (down from $14.00) on shares of Invacare Corporation in a research report on Monday, June 12th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.50.
About Invacare Corporation
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.
Want to see what other hedge funds are holding IVC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Invacare Corporation (NYSE:IVC).
Receive News & Stock Ratings for Invacare Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invacare Corporation and related stocks with our FREE daily email newsletter.