Invacare Corporation’s (IVC) “Buy” Rating Reaffirmed at KeyCorp

KeyCorp reaffirmed their buy rating on shares of Invacare Corporation (NYSE:IVC) in a research report sent to investors on Friday. They currently have a $18.00 price target on the health services provider’s stock. KeyCorp also issued estimates for Invacare Corporation’s Q4 2017 earnings at ($0.42) EPS, FY2017 earnings at ($1.93) EPS and FY2018 earnings at ($1.15) EPS.

IVC has been the topic of a number of other reports. BidaskClub lowered Invacare Corporation from a hold rating to a sell rating in a research report on Monday, July 24th. Zacks Investment Research raised Invacare Corporation from a sell rating to a hold rating in a research report on Wednesday, October 11th. Finally, ValuEngine raised Invacare Corporation from a sell rating to a hold rating in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $15.00.

Shares of Invacare Corporation (NYSE:IVC) traded down $0.25 during trading on Friday, hitting $17.45. The stock had a trading volume of 1,071,800 shares, compared to its average volume of 500,233. The company has a current ratio of 2.28, a quick ratio of 1.53 and a debt-to-equity ratio of 0.55. Invacare Corporation has a 12 month low of $9.90 and a 12 month high of $17.95.

Invacare Corporation (NYSE:IVC) last announced its earnings results on Tuesday, November 7th. The health services provider reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.02. The company had revenue of $250.91 million for the quarter, compared to analyst estimates of $239.88 million. Invacare Corporation had a negative return on equity of 13.33% and a negative net margin of 7.95%. Invacare Corporation’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.37) earnings per share. equities research analysts predict that Invacare Corporation will post -1.9 EPS for the current fiscal year.

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The firm also recently declared a quarterly dividend, which was paid on Monday, October 16th. Investors of record on Thursday, October 5th were given a dividend of $0.0125 per share. This represents a $0.05 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend was Wednesday, October 4th. Invacare Corporation’s payout ratio is -2.14%.

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

Large investors have recently bought and sold shares of the stock. New York State Teachers Retirement System raised its position in Invacare Corporation by 0.3% during the first quarter. New York State Teachers Retirement System now owns 75,964 shares of the health services provider’s stock valued at $904,000 after buying an additional 200 shares during the period. Leucadia National Corp acquired a new position in Invacare Corporation during the second quarter valued at $161,000. Goldman Sachs Group Inc. raised its position in Invacare Corporation by 326.4% during the second quarter. Goldman Sachs Group Inc. now owns 723,650 shares of the health services provider’s stock valued at $9,552,000 after buying an additional 553,954 shares during the period. Koch Industries Inc. acquired a new position in Invacare Corporation in the 2nd quarter worth about $255,000. Finally, Principal Financial Group Inc. increased its position in Invacare Corporation by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 252,259 shares of the health services provider’s stock worth $3,002,000 after purchasing an additional 8,265 shares during the last quarter. 94.65% of the stock is currently owned by hedge funds and other institutional investors.

Invacare Corporation Company Profile

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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