Invacare (NYSE:IVC) Trading 7% Higher

Invacare Co. (NYSE:IVC) traded up 7% during trading on Friday . The stock traded as high as $5.25 and last traded at $5.19. 505,936 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 689,980 shares. The stock had previously closed at $4.85.

Several equities research analysts recently commented on the company. Zacks Investment Research upgraded Invacare from a “sell” rating to a “hold” rating in a report on Thursday, June 20th. Needham & Company LLC reissued a “buy” rating and issued a $15.00 target price on shares of Invacare in a research report on Tuesday, April 9th. Finally, ValuEngine cut Invacare from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st.

The company’s 50-day moving average price is $5.94. 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 capitalization of $175.24 million, a PE ratio of -3.93 and a beta of 2.29.

Invacare (NYSE:IVC) last posted its quarterly earnings results on Monday, May 6th. The health services provider reported ($0.32) EPS for the quarter, topping the Zacks’ 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 company had revenue of $223.40 million for the quarter, compared to analysts’ expectations of $229.93 million. During the same period in the previous year, the firm earned ($0.35) EPS. The firm’s revenue was down 5.8% compared to the same quarter last year. As a group, research analysts predict that Invacare Co. will post -1.03 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 22nd. Investors of record on Friday, July 5th will be issued a $0.0125 dividend. The ex-dividend date is Wednesday, July 3rd. This represents a $0.05 dividend on an annualized basis and a yield of 0.96%. Invacare’s dividend payout ratio is presently -3.79%.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio increased its stake in Invacare by 45.8% in 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 acquiring an additional 1,814 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in Invacare by 8.0% in the 1st quarter. Crossmark Global Holdings Inc. now owns 25,006 shares of the health services provider’s stock worth $209,000 after acquiring an additional 1,850 shares during the last quarter. SG Americas Securities LLC increased its stake in Invacare by 27.8% in the 4th quarter. SG Americas Securities LLC now owns 10,007 shares of the health services provider’s stock worth $43,000 after acquiring an additional 2,179 shares during the last quarter. Magnus Financial Group LLC increased its stake in Invacare by 16.9% in the 1st quarter. Magnus Financial Group LLC now owns 17,499 shares of the health services provider’s stock worth $146,000 after acquiring an additional 2,532 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Invacare by 0.9% in the 4th quarter. Principal Financial Group Inc. now owns 296,793 shares of the health services provider’s stock worth $1,276,000 after acquiring an additional 2,737 shares during the last quarter.

About Invacare (NYSE:IVC)

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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