Invacare (NYSE:IVC) Upgraded to “Hold” by ValuEngine

ValuEngine upgraded shares of Invacare (NYSE:IVC) from a sell rating to a hold rating in a research note released on Thursday morning, ValuEngine reports.

Several other equities research analysts have also weighed in on the company. Zacks Investment Research lowered Invacare from a hold rating to a sell rating in a research note on Thursday. Needham & Company LLC reiterated a buy rating and issued a $15.00 price objective on shares of Invacare in a research note on Tuesday, April 9th.

IVC traded down $0.69 on Thursday, hitting $4.19. 15,471 shares of the stock traded hands, compared to its average volume of 313,749. Invacare has a 52 week low of $3.05 and a 52 week high of $18.25. The company has a quick ratio of 1.29, a current ratio of 1.97 and a debt-to-equity ratio of 0.78. The company has a market cap of $164.75 million, a price-to-earnings ratio of -3.16 and a beta of 2.00. The business has a fifty day moving average of $4.96.

Invacare (NYSE:IVC) last issued its quarterly earnings results on Monday, May 6th. The health services provider reported ($0.32) earnings per share (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 firm had revenue of $223.40 million for the quarter, compared to analyst estimates of $229.93 million. During the same period in the previous year, the company posted ($0.35) earnings per share. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. On average, research analysts forecast that Invacare will post -1.03 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 22nd. Stockholders of record on Friday, July 5th were paid a $0.0125 dividend. The ex-dividend date was Wednesday, July 3rd. This represents a $0.05 annualized dividend and a dividend yield of 1.19%. Invacare’s dividend payout ratio is currently -3.79%.

Hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio lifted its holdings in Invacare by 45.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 5,778 shares of the health services provider’s stock worth $25,000 after buying an additional 1,814 shares in the last quarter. Investors Research Corp acquired a new position in Invacare during the 1st quarter worth $36,000. Municipal Employees Retirement System of Michigan acquired a new position in Invacare during the 4th quarter worth $40,000. Jane Street Group LLC acquired a new position in Invacare during the 4th quarter worth $59,000. Finally, BNP Paribas Arbitrage SA lifted its holdings in Invacare by 126.1% during the 1st quarter. BNP Paribas Arbitrage SA now owns 7,100 shares of the health services provider’s stock worth $59,000 after buying an additional 3,960 shares in the last quarter.

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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