Everence Capital Management Inc. Acquires New Holdings in Invacare Co. (IVC)

Everence Capital Management Inc. acquired a new position in Invacare Co. (NYSE:IVC) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 23,550 shares of the health services provider’s stock, valued at approximately $197,000.

A number of other large investors have also modified their holdings of the stock. MetLife Investment Advisors LLC raised its position in Invacare by 56.9% during the third quarter. MetLife Investment Advisors LLC now owns 24,989 shares of the health services provider’s stock valued at $364,000 after acquiring an additional 9,059 shares in the last quarter. AQR Capital Management LLC purchased a new position in Invacare during the third quarter valued at approximately $177,000. Vanguard Group Inc. raised its position in Invacare by 4.3% during the third quarter. Vanguard Group Inc. now owns 3,289,108 shares of the health services provider’s stock valued at $47,856,000 after acquiring an additional 134,863 shares in the last quarter. Vanguard Group Inc raised its position in Invacare by 4.3% during the third quarter. Vanguard Group Inc now owns 3,289,108 shares of the health services provider’s stock valued at $47,856,000 after acquiring an additional 134,863 shares in the last quarter. Finally, Legal & General Group Plc raised its position 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 acquiring an additional 5,390 shares in the last quarter.

Shares of IVC stock opened at $6.70 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.97 and a quick ratio of 1.29. The company has a market cap of $225.88 million, a P/E ratio of -5.08 and a beta of 2.25. Invacare Co. has a twelve month low of $3.05 and a twelve month high of $20.00.

Invacare (NYSE:IVC) last issued its quarterly earnings data on Monday, May 6th. The health services provider reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.01. Invacare had a negative return on equity of 11.69% and a negative net margin of 4.56%. The company had revenue of $223.40 million for the quarter, compared to analyst estimates of $229.93 million. During the same period last year, the company earned ($0.35) earnings per share. Invacare’s quarterly revenue was down 5.8% compared to the same quarter last year. As a group, equities analysts predict that Invacare Co. will post -0.96 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Friday, July 5th will be issued a $0.0125 dividend. This represents a $0.05 annualized dividend and a yield of 0.75%. The ex-dividend date is Wednesday, July 3rd. Invacare’s payout ratio is currently -3.79%.

Several research analysts recently weighed in on the company. ValuEngine upgraded Invacare from a “sell” rating to a “hold” rating in a research report on Tuesday, January 22nd. Needham & Company LLC assumed coverage on Invacare in a research report on Thursday, January 24th. They set a “buy” rating and a $15.00 price target for the company. Finally, Zacks Investment Research cut Invacare from a “buy” rating to a “hold” rating in a research report on Wednesday, April 17th.

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Invacare Company Profile

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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Institutional Ownership by Quarter for Invacare (NYSE:IVC)

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