Invacare Co. (IVC) Given Average Rating of “Hold” by Analysts

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Shares of Invacare Co. (NYSE:IVC) have earned an average rating of “Hold” from the six analysts that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $19.00.

IVC has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Invacare from a “hold” rating to a “sell” rating in a research note on Wednesday, November 14th. ValuEngine downgraded shares of Invacare from a “hold” rating to a “sell” rating in a research note on Wednesday, January 16th. Finally, Needham & Company LLC initiated coverage on shares of Invacare in a research note on Thursday, January 24th. They issued a “buy” rating and a $15.00 price objective for the company.

NYSE IVC traded down $0.06 during trading on Thursday, hitting $5.15. The stock had a trading volume of 23,467 shares, compared to its average volume of 685,905. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.05 and a quick ratio of 1.34. The company has a market cap of $172.97 million, a P/E ratio of -2.64 and a beta of 1.95. Invacare has a one year low of $3.05 and a one year high of $20.00.

Invacare (NYSE:IVC) last announced its quarterly earnings data on Monday, November 5th. The health services provider reported ($0.40) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.10). The firm had revenue of $244.60 million during the quarter, compared to the consensus estimate of $250.59 million. Invacare had a negative return on equity of 12.98% and a negative net margin of 6.17%. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same period in the previous year, the business earned ($0.41) EPS. As a group, equities research analysts expect that Invacare will post -1.55 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, January 17th. Stockholders of record on Friday, January 4th were paid a dividend of $0.0125 per share. This represents a $0.05 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Thursday, January 3rd. Invacare’s dividend payout ratio is presently -2.59%.

In related news, Chairman Matthew E. Monaghan purchased 13,750 shares of the firm’s stock in a transaction dated Thursday, November 8th. The stock was purchased at an average price of $7.26 per share, with a total value of $99,825.00. Following the completion of the purchase, the chairman now owns 243,897 shares of the company’s stock, valued at approximately $1,770,692.22. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Kathleen P. Leneghan purchased 6,500 shares of the firm’s stock in a transaction dated Tuesday, November 20th. The shares were bought at an average cost of $5.52 per share, with a total value of $35,880.00. Following the purchase, the vice president now directly owns 45,416 shares of the company’s stock, valued at approximately $250,696.32. The disclosure for this purchase can be found here. Insiders have bought 29,250 shares of company stock valued at $184,485 in the last ninety days. Insiders own 2.10% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Arizona State Retirement System increased its holdings in Invacare by 6.0% during the fourth quarter. Arizona State Retirement System now owns 51,120 shares of the health services provider’s stock valued at $220,000 after buying an additional 2,915 shares during the period. Bank of Montreal Can increased its holdings in Invacare by 40.8% during the fourth quarter. Bank of Montreal Can now owns 10,499 shares of the health services provider’s stock valued at $45,000 after buying an additional 3,044 shares during the period. Nisa Investment Advisors LLC purchased a new position in Invacare during the fourth quarter valued at approximately $78,000. Teachers Advisors LLC increased its holdings in Invacare by 6.1% during the third quarter. Teachers Advisors LLC now owns 69,140 shares of the health services provider’s stock valued at $1,006,000 after buying an additional 3,998 shares during the period. Finally, Legal & General Group Plc increased its holdings in Invacare by 8.2% during the third quarter. Legal & General Group Plc now owns 70,725 shares of the health services provider’s stock valued at $1,027,000 after buying an additional 5,390 shares during the period.

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.

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