Hotchkis & Wiley Capital Management LLC Decreases Holdings in Invacare Corporation (IVC)
Hotchkis & Wiley Capital Management LLC trimmed its position in Invacare Corporation (NYSE:IVC) by 0.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,330,505 shares of the health services provider’s stock after selling 7,590 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 4.15% of Invacare Corporation worth $17,563,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of IVC. Municipal Employees Retirement System of Michigan grew its holdings in Invacare Corporation by 4.3% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 7,580 shares of the health services provider’s stock valued at $100,000 after buying an additional 310 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in Invacare Corporation by 0.8% in the 1st quarter. Louisiana State Employees Retirement System now owns 12,900 shares of the health services provider’s stock valued at $154,000 after buying an additional 100 shares in the last quarter. Leucadia National Corp acquired a new position in Invacare Corporation in the 2nd quarter valued at $161,000. BNP Paribas Arbitrage SA grew its holdings in Invacare Corporation by 39.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 14,646 shares of the health services provider’s stock valued at $193,000 after buying an additional 4,166 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in Invacare Corporation by 1.2% in the 1st quarter. Arizona State Retirement System now owns 16,524 shares of the health services provider’s stock valued at $197,000 after buying an additional 200 shares in the last quarter.
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Shares of Invacare Corporation (NYSE IVC) opened at 15.60 on Monday. The firm’s market capitalization is $512.77 million. Invacare Corporation has a 12-month low of $8.00 and a 12-month high of $16.65. The stock’s 50 day moving average price is $14.18 and its 200 day moving average price is $13.24.
Invacare Corporation (NYSE:IVC) last issued its earnings results on Monday, August 7th. The health services provider reported ($0.63) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.42) by ($0.21). The firm had revenue of $233.50 million during the quarter, compared to the consensus estimate of $243.03 million. Invacare Corporation had a negative net margin of 6.42% and a negative return on equity of 12.79%. The business’s quarterly revenue was down 15.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.33) earnings per share. Equities research analysts expect that Invacare Corporation will post ($1.87) earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Thursday, October 5th will be paid a $0.0125 dividend. The ex-dividend date is Wednesday, October 4th. This represents a $0.05 annualized dividend and a dividend yield of 0.32%. Invacare Corporation’s payout ratio is presently -2.59%.
In other Invacare Corporation news, SVP Dean J. Childers sold 6,249 shares of the business’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $15.15, for a total value of $94,672.35. Following the sale, the senior vice president now directly owns 44,875 shares in the company, valued at $679,856.25. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.20% of the company’s stock.
A number of research analysts have commented on the company. ValuEngine raised Invacare Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Sidoti reaffirmed a “neutral” rating and issued a $12.00 price objective (down from $14.00) on shares of Invacare Corporation in a report on Monday, June 12th. BidaskClub lowered Invacare Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. Finally, Zacks Investment Research lowered Invacare Corporation from a “hold” rating to a “sell” rating in a report on Friday, June 16th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price 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.
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