Invacare Corporation (IVC) Stake Lessened by California State Teachers Retirement System
California State Teachers Retirement System decreased its position in Invacare Corporation (NYSE:IVC) by 9.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,371 shares of the health services provider’s stock after selling 6,100 shares during the quarter. California State Teachers Retirement System owned approximately 0.17% of Invacare worth $744,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of IVC. Teachers Advisors LLC boosted its holdings in shares of Invacare by 3.5% in the 1st quarter. Teachers Advisors LLC now owns 68,503 shares of the health services provider’s stock worth $815,000 after buying an additional 2,316 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Invacare by 7.1% in the 1st quarter. Vanguard Group Inc. now owns 2,827,234 shares of the health services provider’s stock worth $33,644,000 after buying an additional 187,697 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Invacare by 9.4% in the 1st quarter. Geode Capital Management LLC now owns 236,239 shares of the health services provider’s stock worth $2,811,000 after buying an additional 20,306 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Invacare by 10.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 351,692 shares of the health services provider’s stock worth $4,186,000 after buying an additional 34,189 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Invacare by 102.0% in the 1st quarter. Bank of America Corp DE now owns 49,518 shares of the health services provider’s stock worth $589,000 after buying an additional 25,005 shares during the last quarter. Hedge funds and other institutional investors own 94.65% of the company’s stock.
A number of equities analysts recently weighed in on the stock. KeyCorp reissued an “overweight” rating and issued a $17.00 price target on shares of Invacare in a report on Tuesday, September 26th. ValuEngine raised shares of Invacare from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Finally, Zacks Investment Research raised shares of Invacare 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 issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $15.00.
Shares of Invacare Corporation (NYSE:IVC) traded down $0.30 during trading hours on Friday, hitting $17.25. 572,820 shares of the company were exchanged, compared to its average volume of 524,968. 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 has a 52 week low of $9.90 and a 52 week high of $17.95.
Invacare (NYSE:IVC) last released its quarterly earnings data on Tuesday, November 7th. The health services provider reported ($0.41) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.43) by $0.02. The business had revenue of $250.91 million for the quarter, compared to the consensus estimate of $239.88 million. Invacare had a negative net margin of 7.95% and a negative return on equity of 13.33%. The company’s revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.37) earnings per share. analysts expect that Invacare Corporation will post -2 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Thursday, January 4th will be issued a dividend of $0.0125 per share. This represents a $0.05 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Wednesday, January 3rd. Invacare’s dividend payout ratio (DPR) is presently -2.14%.
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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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