Invacare (NYSE:IVC) Downgraded by ValuEngine

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

A number of other research firms also recently issued reports on IVC. Zacks Investment Research raised shares of Invacare from a sell rating to a hold rating in a research note on Tuesday, November 5th. Needham & Company LLC reissued a buy rating and issued a $15.00 price target on shares of Invacare in a research note on Wednesday.

Shares of NYSE:IVC traded down $0.56 during midday trading on Thursday, hitting $10.70. 968,717 shares of the stock traded hands, compared to its average volume of 589,246. The stock has a market capitalization of $286.61 million, a PE ratio of -8.11 and a beta of 1.98. The business’s 50 day moving average is $7.28 and its two-hundred day moving average is $6.12. The company has a quick ratio of 1.26, a current ratio of 1.90 and a debt-to-equity ratio of 0.83. Invacare has a one year low of $3.05 and a one year high of $11.63.

Invacare (NYSE:IVC) last released its quarterly earnings results on Wednesday, November 6th. The health services provider reported ($0.15) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.05. Invacare had a negative net margin of 4.20% and a negative return on equity of 11.26%. The company had revenue of $235.80 million during the quarter, compared to the consensus estimate of $244.81 million. During the same period in the prior year, the firm earned ($0.40) earnings per share. Invacare’s revenue was down 3.6% on a year-over-year basis. As a group, sell-side analysts forecast that Invacare will post -1.13 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were paid a $0.125 dividend. This is an increase from Invacare’s previous quarterly dividend of $0.01. This represents a $0.50 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date of this dividend was Thursday, October 10th. Invacare’s dividend payout ratio is presently -3.79%.

A number of hedge funds have recently added to or reduced their stakes in the stock. BBVA USA Bancshares Inc. bought a new position in shares of Invacare during the third quarter valued at approximately $186,000. Tower Research Capital LLC TRC bought a new position in shares of Invacare during the third quarter valued at approximately $47,000. Eagle Asset Management Inc. bought a new position in shares of Invacare during the third quarter valued at approximately $80,000. Monarch Partners Asset Management LLC increased its stake in shares of Invacare by 4.1% during the third quarter. Monarch Partners Asset Management LLC now owns 84,619 shares of the health services provider’s stock valued at $635,000 after purchasing an additional 3,360 shares in the last quarter. Finally, Mackay Shields LLC bought a new position in shares of Invacare during the third quarter valued at approximately $450,000.

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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