Invacare (IVC) Stock Price Down 4%

Shares of Invacare Co. (NYSE:IVC) fell 4% during trading on Monday . The stock traded as low as $5.60 and last traded at $5.45. 23,174 shares changed hands during trading, a decline of 98% from the average session volume of 1,301,047 shares. The stock had previously closed at $5.68.

Several research firms have recently commented on IVC. Zacks Investment Research raised shares of Invacare from a “sell” rating to a “hold” rating in a research note on Tuesday, August 28th. ValuEngine cut shares of Invacare from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 25th. Finally, TheStreet cut shares of Invacare from a “c” rating to a “d+” rating in a research note on Friday, August 10th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. Invacare currently has an average rating of “Hold” and an average target price of $21.50.

The company has a current ratio of 2.05, a quick ratio of 1.34 and a debt-to-equity ratio of 0.68. The company has a market cap of $188.58 million, a P/E ratio of -2.79 and a beta of 2.07.

Invacare (NYSE:IVC) last released its quarterly earnings results on Monday, November 5th. The health services provider reported ($0.40) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.10). Invacare had a negative net margin of 6.17% and a negative return on equity of 12.98%. The company had revenue of $244.60 million for the quarter, compared to the consensus estimate of $250.59 million. During the same period last year, the company earned ($0.41) earnings per share. Invacare’s revenue for the quarter was down 2.5% compared to the same quarter last year. Equities analysts anticipate that Invacare Co. will post -1.55 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 26th. Stockholders of record on Friday, October 12th were paid a dividend of $0.0125 per share. The ex-dividend date of this dividend was Thursday, October 11th. This represents a $0.05 annualized dividend and a dividend yield of 0.90%. Invacare’s dividend payout ratio (DPR) is currently -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 shares were acquired at an average cost of $7.26 per share, with a total value of $99,825.00. Following the completion of the purchase, the chairman now directly owns 243,897 shares of the company’s stock, valued at $1,770,692.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.10% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in IVC. Principal Financial Group Inc. boosted its stake in Invacare by 3.0% in the first quarter. Principal Financial Group Inc. now owns 272,539 shares of the health services provider’s stock valued at $4,742,000 after acquiring an additional 7,895 shares during the last quarter. Bank of Montreal Can boosted its stake in Invacare by 7,076.0% in the second quarter. Bank of Montreal Can now owns 7,463 shares of the health services provider’s stock valued at $139,000 after acquiring an additional 7,359 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in Invacare in the second quarter valued at approximately $144,000. Wells Fargo & Company MN boosted its stake in Invacare by 19.1% in the second quarter. Wells Fargo & Company MN now owns 629,800 shares of the health services provider’s stock valued at $11,713,000 after acquiring an additional 100,963 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Invacare by 5.1% in the second quarter. Victory Capital Management Inc. now owns 88,434 shares of the health services provider’s stock valued at $1,645,000 after acquiring an additional 4,305 shares during the last quarter.

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Invacare Company Profile (NYSE:IVC)

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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