United Services Automobile Association reduced its position in shares of Invacare Co. (NYSE:IVC) by 5.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 331,573 shares of the health services provider’s stock after selling 17,437 shares during the period. United Services Automobile Association owned about 0.98% of Invacare worth $1,721,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in IVC. Renaissance Technologies LLC lifted its position in shares of Invacare by 85.9% during the 2nd quarter. Renaissance Technologies LLC now owns 1,239,500 shares of the health services provider’s stock worth $6,433,000 after purchasing an additional 572,800 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Invacare by 141.0% during the 1st quarter. Marshall Wace LLP now owns 973,474 shares of the health services provider’s stock worth $8,149,000 after purchasing an additional 569,509 shares during the last quarter. River & Mercantile Asset Management LLP purchased a new stake in shares of Invacare during the 2nd quarter worth $1,233,000. Acadian Asset Management LLC lifted its position in shares of Invacare by 129.4% during the 2nd quarter. Acadian Asset Management LLC now owns 362,135 shares of the health services provider’s stock worth $1,879,000 after purchasing an additional 204,264 shares during the last quarter. Finally, BlackRock Inc. lifted its position in shares of Invacare by 2.8% during the 2nd quarter. BlackRock Inc. now owns 5,059,730 shares of the health services provider’s stock worth $26,261,000 after purchasing an additional 138,505 shares during the last quarter.
Several equities research analysts have recently issued reports on IVC shares. Zacks Investment Research cut shares of Invacare from a “hold” rating to a “sell” rating in a research report on Tuesday. ValuEngine raised shares of Invacare from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd.
Invacare (NYSE:IVC) last announced its quarterly earnings results on Monday, August 5th. The health services provider reported ($0.31) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.03). Invacare had a negative net margin of 4.20% and a negative return on equity of 11.26%. The company had revenue of $235.90 million during the quarter, compared to analysts’ expectations of $238.32 million. During the same period last year, the firm earned ($0.41) earnings per share. Invacare’s revenue was down 4.2% on a year-over-year basis. As a group, equities analysts expect that Invacare Co. will post -1.13 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 11th will be given a $0.125 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This is a boost from Invacare’s previous quarterly dividend of $0.01. This represents a $0.50 dividend on an annualized basis and a yield of 7.96%. Invacare’s payout ratio is -3.79%.
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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