Invacare Corporation (IVC) Stock Rating Reaffirmed by KeyCorp
KeyCorp reiterated their buy rating on shares of Invacare Corporation (NYSE:IVC) in a report published on Friday. KeyCorp currently has a $18.00 price target on the health services provider’s stock. KeyCorp also issued estimates for Invacare Corporation’s Q4 2017 earnings at ($0.42) EPS, FY2017 earnings at ($1.93) EPS and FY2018 earnings at ($1.15) EPS.
A number of other brokerages have also weighed in on IVC. BidaskClub lowered shares of Invacare Corporation from a sell rating to a strong sell rating in a report on Wednesday, August 2nd. ValuEngine upgraded shares of Invacare Corporation from a sell rating to a hold rating in a report on Friday, August 4th. Finally, Zacks Investment Research upgraded shares of Invacare Corporation from a sell rating to a hold rating in a report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $15.00.
Invacare Corporation (NYSE:IVC) opened at $17.25 on Friday. Invacare Corporation has a 1-year low of $9.90 and a 1-year high of $17.95. The company has a current ratio of 2.28, a quick ratio of 1.57 and a debt-to-equity ratio of 0.55.
Invacare Corporation (NYSE:IVC) last announced its quarterly earnings results on Tuesday, November 7th. The health services provider reported ($0.41) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.43) by $0.02. The company had revenue of $250.91 million for the quarter, compared to analyst estimates of $239.88 million. Invacare Corporation had a negative net margin of 7.95% and a negative return on equity of 13.33%. Invacare Corporation’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter last year, the business earned ($0.37) EPS. equities research analysts expect that Invacare Corporation will post -1.93 EPS for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Thursday, October 5th were issued a dividend of $0.0125 per share. The ex-dividend date was Wednesday, October 4th. This represents a $0.05 annualized dividend and a dividend yield of 0.29%. Invacare Corporation’s payout ratio is -2.13%.
In related news, SVP Dean J. Childers sold 6,249 shares of Invacare Corporation stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $15.15, for a total transaction of $94,672.35. Following the transaction, the senior vice president now owns 44,875 shares in the company, valued at approximately $679,856.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.20% of the company’s stock.
Hedge funds have recently modified their holdings of the business. New York State Teachers Retirement System lifted its holdings in Invacare Corporation by 0.3% in the 1st quarter. New York State Teachers Retirement System now owns 75,964 shares of the health services provider’s stock worth $904,000 after buying an additional 200 shares in the last quarter. Leucadia National Corp acquired a new position in Invacare Corporation in the 2nd quarter worth $161,000. Goldman Sachs Group Inc. lifted its holdings in Invacare Corporation by 326.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 723,650 shares of the health services provider’s stock worth $9,552,000 after buying an additional 553,954 shares in the last quarter. Koch Industries Inc. acquired a new position in Invacare Corporation in the 2nd quarter worth $255,000. Finally, Principal Financial Group Inc. lifted its holdings in Invacare Corporation by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 252,259 shares of the health services provider’s stock worth $3,002,000 after buying an additional 8,265 shares in the last quarter. Hedge funds and other institutional investors own 94.65% of the company’s stock.
Invacare Corporation 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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