Millennium Management LLC Increases Holdings in Invacare Co. (NYSE:IVC)

Millennium Management LLC lifted its holdings in Invacare Co. (NYSE:IVC) by 4,759.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,536,931 shares of the health services provider’s stock after acquiring an additional 2,484,723 shares during the period. Millennium Management LLC owned 7.54% of Invacare worth $19,026,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of Invacare by 2.8% in the 2nd quarter. BlackRock Inc. now owns 5,059,730 shares of the health services provider’s stock valued at $26,261,000 after purchasing an additional 138,505 shares during the last quarter. Renaissance Technologies LLC lifted its position in Invacare by 85.9% in the second quarter. Renaissance Technologies LLC now owns 1,239,500 shares of the health services provider’s stock worth $6,433,000 after buying an additional 572,800 shares during the last quarter. State Street Corp boosted its stake in Invacare by 2.2% during the third quarter. State Street Corp now owns 1,138,448 shares of the health services provider’s stock worth $8,538,000 after buying an additional 24,457 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Invacare by 3.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 538,403 shares of the health services provider’s stock worth $2,795,000 after buying an additional 16,014 shares during the period. Finally, Northern Trust Corp increased its position in Invacare by 1.5% during the second quarter. Northern Trust Corp now owns 442,644 shares of the health services provider’s stock valued at $2,297,000 after acquiring an additional 6,549 shares during the last quarter.

IVC has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Invacare from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Wednesday, November 13th. Needham & Company LLC reiterated a “buy” rating and set a $15.00 price target on shares of Invacare in a report on Wednesday, November 6th. Finally, ValuEngine lowered shares of Invacare from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 14th.

IVC opened at $9.20 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.16 and a current ratio of 1.76. The stock’s 50 day moving average price is $8.47 and its 200-day moving average price is $6.41. Invacare Co. has a one year low of $3.05 and a one year high of $11.63. The stock has a market cap of $293.83 million, a price-to-earnings ratio of -6.97 and a beta of 2.03.

Invacare (NYSE:IVC) last issued 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 return on equity of 9.30% and a negative net margin of 3.82%. The firm had revenue of $235.80 million during the quarter, compared to analyst estimates of $244.81 million. During the same period last year, the company earned ($0.40) EPS. Invacare’s quarterly revenue was down 3.6% compared to the same quarter last year. As a group, analysts predict that Invacare Co. will post -1.09 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Friday, January 3rd will be paid a $0.0125 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $0.05 dividend on an annualized basis and a yield of 0.54%. Invacare’s payout ratio is -3.79%.

Invacare 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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