Invacare Co. (NYSE:IVC) announced its earnings results on Monday. The health services provider reported ($0.47) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.53) by $0.06. Invacare had a negative return on equity of 8.18% and a negative net margin of 4.09%. The business had revenue of $231.70 million during the quarter, compared to analysts’ expectations of $226.71 million. During the same quarter last year, the business posted ($0.25) earnings per share. The company’s quarterly revenue was down 10.1% on a year-over-year basis.
Shares of Invacare (NYSE:IVC) remained flat at $14.65 during midday trading on Friday. The stock had a trading volume of 154,236 shares. The firm’s market cap is $480.27 million. The firm’s 50 day moving average price is $13.06 and its 200-day moving average price is $12.24. Invacare has a 12-month low of $8.00 and a 12-month high of $16.65.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Monday, July 3rd will be given a dividend of $0.0125 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $0.05 dividend on an annualized basis and a yield of 0.34%. Invacare’s payout ratio is presently -3.79%.
In other news, Director Dale C. Laporte sold 2,737 shares of Invacare stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $14.95, for a total value of $40,918.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.60% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of IVC. Catalyst Capital Advisors LLC acquired a new position in Invacare during the third quarter valued at $113,000. Louisiana State Employees Retirement System increased its stake in shares of Invacare by 0.8% in the first quarter. Louisiana State Employees Retirement System now owns 12,900 shares of the health services provider’s stock valued at $154,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Invacare by 1.2% in the first quarter. Arizona State Retirement System now owns 16,524 shares of the health services provider’s stock valued at $197,000 after buying an additional 200 shares in the last quarter. Thrivent Financial For Lutherans increased its stake in shares of Invacare by 4.9% in the first quarter. Thrivent Financial For Lutherans now owns 18,080 shares of the health services provider’s stock valued at $215,000 after buying an additional 850 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of Invacare by 6.0% in the fourth quarter. Thrivent Financial for Lutherans now owns 17,230 shares of the health services provider’s stock valued at $225,000 after buying an additional 970 shares in the last quarter.
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A number of equities analysts recently weighed in on the company. Stephens upgraded Invacare from an “equal weight” rating to an “overweight” rating in a research report on Friday, April 28th. Zacks Investment Research upgraded Invacare from a “sell” rating to a “hold” rating in a research report on Tuesday, April 11th.
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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