According to Zacks, “Invacare Corporation is the world’s leading manufacturer and distributor of non-acute health care products based upon its distribution channels, the breadth of its product line and sales. The company designs, manufactures and distributes an extensive line of health care products for the non-acute care environment including the home health care, retail and extended care markets. The company’s products are sold through its world-wide distribution network byits sales force, telemarketing employees and various organizations of independent manufacturer’s representatives. “
Separately, KeyCorp set a $17.00 price target on Invacare Corp. and gave the company a buy rating in a research note on Thursday, October 6th.
Shares of Invacare Corp. (NYSE:IVC) opened at 10.43 on Tuesday. Invacare Corp. has a 52 week low of $9.89 and a 52 week high of $20.41. The stock has a 50 day moving average price of $11.51 and a 200-day moving average price of $11.90. The stock’s market cap is $338.65 million.
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 Zacks’ consensus estimate of ($0.24) by $0.09. Invacare Corp. had a negative net margin of 2.81% and a negative return on equity of 5.16%. The business earned $275 million during the quarter, compared to analyst estimates of $270.10 million. During the same quarter in the prior year, the business earned ($0.23) earnings per share. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. Equities analysts predict that Invacare Corp. will post ($0.95) EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Thursday, October 13th will be given a dividend of $0.0125 per share. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date is Tuesday, October 11th. Invacare Corp.’s dividend payout ratio (DPR) is currently -5.21%.
Hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted 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 period. Rational Advisors LLC purchased a new stake in Invacare Corp. during the second quarter worth approximately $124,000. Profund Advisors LLC purchased a new stake in Invacare Corp. during the second quarter worth approximately $125,000. Thrivent Financial for Lutherans boosted its stake in Invacare Corp. by 7.6% in the second quarter. Thrivent Financial for Lutherans now owns 14,820 shares of the company’s stock worth $180,000 after buying an additional 1,050 shares during the period. Finally, Arizona State Retirement System boosted its stake in Invacare Corp. by 1.3% in the second quarter. Arizona State Retirement System now owns 15,624 shares of the company’s stock worth $190,000 after buying an additional 200 shares during the period.
About Invacare Corp.
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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