Invacare Corporation (IVC) Receives $15.00 Consensus Target Price from Brokerages

Invacare Corporation (NYSE:IVC) has been assigned an average rating of “Hold” from the six ratings firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $15.00.

Several equities analysts recently commented on the stock. KeyCorp reaffirmed a “buy” rating and set a $18.00 target price on shares of Invacare in a report on Friday, November 10th. Zacks Investment Research lowered shares of Invacare from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th.

Shares of Invacare (NYSE:IVC) traded down $0.30 during trading hours on Thursday, hitting $17.25. 572,820 shares of the stock were exchanged, compared to its average volume of 571,968. Invacare has a 1 year low of $9.90 and a 1 year high of $17.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.57 and a current ratio of 2.28.

Invacare (NYSE:IVC) last issued its quarterly earnings results on Tuesday, November 7th. The health services provider reported ($0.41) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.02. The firm had revenue of $250.91 million for the quarter, compared to analyst estimates of $239.88 million. Invacare had a negative net margin of 7.95% and a negative return on equity of 13.33%. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.37) EPS. research analysts expect that Invacare will post -2 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Thursday, January 4th will be issued a dividend of $0.0125 per share. This represents a $0.05 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend is Wednesday, January 3rd. Invacare’s dividend payout ratio is currently -2.13%.

In related news, SVP Dean J. Childers sold 6,249 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $15.15, for a total transaction of $94,672.35. Following the transaction, the senior vice president now owns 44,875 shares of the company’s stock, valued at approximately $679,856.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in IVC. Teachers Advisors LLC grew its holdings in shares of Invacare by 3.5% during the 1st quarter. Teachers Advisors LLC now owns 68,503 shares of the health services provider’s stock valued at $815,000 after purchasing an additional 2,316 shares during the last quarter. Legal & General Group Plc grew its holdings in Invacare by 0.3% in the 1st quarter. Legal & General Group Plc now owns 52,617 shares of the health services provider’s stock worth $627,000 after acquiring an additional 159 shares during the last quarter. Vanguard Group Inc. grew its holdings in Invacare by 7.1% in the 1st quarter. Vanguard Group Inc. now owns 2,827,234 shares of the health services provider’s stock worth $33,644,000 after acquiring an additional 187,697 shares during the last quarter. Geode Capital Management LLC grew its holdings in Invacare by 9.4% in the 1st quarter. Geode Capital Management LLC now owns 236,239 shares of the health services provider’s stock worth $2,811,000 after acquiring an additional 20,306 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in Invacare by 10.8% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 351,692 shares of the health services provider’s stock worth $4,186,000 after acquiring an additional 34,189 shares during the last quarter. 94.65% of the stock is currently owned by institutional investors.

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About Invacare

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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