Invacare (IVC) Upgraded to Hold by Zacks Investment Research
Zacks Investment Research upgraded shares of Invacare (NYSE:IVC) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.
According to Zacks, “Invacare Corporation is a leading manufacturer and distributor in its markets for medical equipment used in non-acute care settings. At its core, the company designs, manufactures and distributes medical devices that help people to move, breathe, rest and perform essential hygiene. The company provides clinically complex medical device solutions for congenital (e.g., cerebral palsy, muscular dystrophy, spina bifida), acquired (e.g., stroke, spinal cord injury, traumatic brain injury, post-acute recovery, pressure ulcers) and degenerative (e.g., ALS, multiple sclerosis, chronic obstructive pulmonary disease (COPD), elderly, bariatric) ailments. The company’s products are important parts of care for people with a wide range of challenges, from those who are active and involved in work or school each day and may need additional mobility or respiratory support, to those who are cared for in residential care settings, at home and in rehabilitation centers. “
Several other research analysts have also commented on IVC. KeyCorp dropped their price target on shares of Invacare from $24.00 to $23.00 and set an overweight rating on the stock in a research note on Wednesday, May 9th. UBS Group upgraded shares of Invacare from a sell rating to a neutral rating in a research note on Wednesday, May 2nd. ValuEngine upgraded shares of Invacare from a buy rating to a strong-buy rating in a research note on Friday, June 8th. Finally, TheStreet lowered shares of Invacare from a c rating to a d+ rating in a research note on Friday, August 10th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $21.50.
Invacare (NYSE:IVC) last released its earnings results on Tuesday, August 7th. The health services provider reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.11). Invacare had a negative return on equity of 12.52% and a negative net margin of 6.80%. The company had revenue of $246.15 million during the quarter, compared to analysts’ expectations of $247.90 million. research analysts expect that Invacare will post -1.28 earnings per share for the current fiscal year.
In other news, VP Anthony Laplaca sold 20,000 shares of the stock in a transaction on Thursday, June 14th. The shares were sold at an average price of $19.59, for a total transaction of $391,800.00. Following the transaction, the vice president now owns 64,385 shares in the company, valued at approximately $1,261,302.15. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Baiju R. Shah sold 4,000 shares of the stock in a transaction on Friday, June 15th. The stock was sold at an average price of $19.65, for a total transaction of $78,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,000 shares of company stock worth $601,370. 2.10% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in IVC. Swiss National Bank grew its stake in Invacare by 6.9% in the 1st quarter. Swiss National Bank now owns 57,300 shares of the health services provider’s stock valued at $997,000 after buying an additional 3,700 shares during the last quarter. Legal & General Group Plc grew its stake in Invacare by 6.7% in the 2nd quarter. Legal & General Group Plc now owns 65,335 shares of the health services provider’s stock valued at $1,223,000 after buying an additional 4,127 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in Invacare by 11.1% in the 2nd quarter. Great West Life Assurance Co. Can now owns 42,518 shares of the health services provider’s stock valued at $789,000 after buying an additional 4,237 shares during the last quarter. Victory Capital Management Inc. grew its stake in Invacare by 5.1% in the 2nd quarter. Victory Capital Management Inc. now owns 88,434 shares of the health services provider’s stock valued at $1,645,000 after buying an additional 4,305 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Invacare by 1.0% in the 1st quarter. Northern Trust Corp now owns 450,402 shares of the health services provider’s stock valued at $7,838,000 after buying an additional 4,580 shares during the last quarter.
Invacare Corporation, together with its subsidiaries, designs, manufactures, distributes, and exports medical equipment for use in home health care, retail, and extended care markets worldwide. The company operates through four segments: North America/Home Medical Equipment, Institutional Products Group, Europe, and the Asia/Pacific.
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