Invacare (IVC) Upgraded at ValuEngine

Invacare (NYSE:IVC) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Saturday.

IVC has been the subject of several other reports. KeyCorp reaffirmed a “buy” rating on shares of Invacare in a report on Thursday, March 15th. Zacks Investment Research raised Invacare from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. Invacare presently has a consensus rating of “Hold” and a consensus target price of $16.50.

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Shares of NYSE IVC opened at $17.45 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.10 and a quick ratio of 1.54. Invacare has a 1-year low of $10.20 and a 1-year high of $19.05. The firm has a market cap of $683.81, a P/E ratio of -9.04 and a beta of 2.53.

Invacare (NYSE:IVC) last issued its quarterly earnings results on Wednesday, February 7th. The health services provider reported ($0.42) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.44) by $0.02. Invacare had a negative return on equity of 14.95% and a negative net margin of 7.92%. The firm had revenue of $250.35 million during the quarter, compared to the consensus estimate of $241.07 million. During the same period last year, the company earned ($0.46) earnings per share. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. sell-side analysts predict that Invacare will post -1.15 earnings per share for the current fiscal year.

In other Invacare news, Director C Martin Harris sold 3,443 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $18.15, for a total value of $62,490.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.60% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC purchased a new position in Invacare in the fourth quarter worth $268,000. Millennium Management LLC raised its position in Invacare by 118.0% in the fourth quarter. Millennium Management LLC now owns 347,888 shares of the health services provider’s stock worth $5,862,000 after acquiring an additional 188,331 shares in the last quarter. HBK Investments L P purchased a new position in Invacare in the fourth quarter worth $180,000. Stone Ridge Asset Management LLC purchased a new position in Invacare in the fourth quarter worth $245,000. Finally, Renaissance Technologies LLC raised its position in Invacare by 15.2% in the fourth quarter. Renaissance Technologies LLC now owns 309,100 shares of the health services provider’s stock worth $5,208,000 after acquiring an additional 40,700 shares in the last quarter.

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About Invacare

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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