Short Interest in Invacare Co. (NYSE:IVC) Declines By 5.1%

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Invacare Co. (NYSE:IVC) was the target of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 5,380,000 shares, a drop of 5.1% from the April 30th total of 5,670,000 shares. Currently, 16.7% of the company’s stock are sold short. Based on an average daily trading volume, of 460,200 shares, the days-to-cover ratio is currently 11.7 days.

IVC has been the subject of several recent research reports. ValuEngine raised Invacare from a “hold” rating to a “buy” rating in a research report on Wednesday, May 6th. Needham & Company LLC restated a “buy” rating and set a $17.00 price target on shares of Invacare in a report on Thursday, May 7th. Stephens reduced their price target on Invacare from $17.00 to $11.00 and set an “overweight” rating for the company in a report on Monday, March 23rd. Finally, Zacks Investment Research upgraded Invacare from a “sell” rating to a “hold” rating in a report on Wednesday, March 25th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Crossmark Global Holdings Inc. increased its holdings in Invacare by 4.7% in the 4th quarter. Crossmark Global Holdings Inc. now owns 29,450 shares of the health services provider’s stock worth $266,000 after buying an additional 1,330 shares in the last quarter. Dynamic Technology Lab Private Ltd increased its holdings in Invacare by 197.0% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 39,488 shares of the health services provider’s stock worth $356,000 after buying an additional 26,193 shares in the last quarter. State Street Corp increased its holdings in Invacare by 2.2% in the 3rd quarter. State Street Corp now owns 1,138,448 shares of the health services provider’s stock worth $8,538,000 after buying an additional 24,457 shares in the last quarter. AE Wealth Management LLC bought a new stake in Invacare in the 4th quarter worth about $241,000. Finally, First Quadrant L P CA bought a new stake in Invacare in the 4th quarter worth about $79,000.

Shares of NYSE:IVC opened at $7.00 on Friday. Invacare has a 1-year low of $3.90 and a 1-year high of $11.63. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.27 and a quick ratio of 0.87. The business has a fifty day moving average price of $6.53 and a 200-day moving average price of $7.93. The company has a market capitalization of $245.45 million, a PE ratio of -6.03 and a beta of 1.25.

Invacare (NYSE:IVC) last issued its quarterly earnings results on Wednesday, May 6th. The health services provider reported ($0.21) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.01. Invacare had a negative return on equity of 10.17% and a negative net margin of 4.19%. The firm had revenue of $218.44 million during the quarter, compared to the consensus estimate of $218.00 million. On average, sell-side analysts anticipate that Invacare will post -0.63 earnings per share for the current fiscal year.

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 Europe, North America/Home Medical Equipment, Institutional Products Group, and the Asia/Pacific segments.

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