BlackRock Advisors LLC lowered its stake in shares of Invacare Corp. (NYSE:IVC) by 5.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,105,788 shares of the company’s stock after selling 57,817 shares during the period. BlackRock Advisors LLC owned 3.41% of Invacare Corp. worth $13,414,000 as of its most recent filing with the SEC.
A number of other institutional investors have also bought and sold shares of IVC. Victory Capital Management Inc. increased its stake in shares of Invacare Corp. by 0.8% in the second quarter. Victory Capital Management Inc. now owns 44,760 shares of the company’s stock worth $543,000 after buying an additional 355 shares during the period. Arizona State Retirement System increased its stake in Invacare Corp. by 4.0% in the first quarter. Arizona State Retirement System now owns 15,424 shares of the company’s stock worth $203,000 after buying an additional 600 shares during the last quarter. Royal Bank of Canada increased its stake in Invacare Corp. by 4.3% in the first quarter. Royal Bank of Canada now owns 16,233 shares of the company’s stock worth $214,000 after buying an additional 670 shares during the last quarter. Geode Capital Management LLC increased its stake in Invacare Corp. by 1.7% in the first quarter. Geode Capital Management LLC now owns 194,492 shares of the company’s stock worth $2,561,000 after buying an additional 3,233 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Invacare Corp. by 108.2% in the second quarter. BNP Paribas Arbitrage SA now owns 9,371 shares of the company’s stock worth $114,000 after buying an additional 4,871 shares during the last quarter. Hedge funds and other institutional investors own 90.80% of the company’s stock.
Shares of Invacare Corp. (NYSE:IVC) opened at 11.35 on Wednesday. The company has a 50-day moving average of $11.59 and a 200-day moving average of $11.95. The stock’s market capitalization is $368.52 million. Invacare Corp. has a 12-month low of $9.89 and a 12-month high of $20.41.
Invacare Corp. (NYSE:IVC) last posted its quarterly earnings results on Thursday, July 28th. The company reported ($0.33) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by $0.09. The company had revenue of $275 million for the quarter, compared to analyst estimates of $270.10 million. Invacare Corp. had a negative return on equity of 5.16% and a negative net margin of 2.81%. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.23) EPS. Equities analysts expect that Invacare Corp. will post ($0.95) earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Thursday, October 13th will be issued a dividend of $0.0125 per share. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Tuesday, October 11th. Invacare Corp.’s payout ratio is presently -5.21%.
Separately, Zacks Investment Research downgraded shares of Invacare Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 2nd.
Invacare Corp. 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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