Invacare (NYSE:IVC) Trading Down 5.7%

Shares of Invacare Co. (NYSE:IVC) dropped 5.7% during trading on Tuesday . The company traded as low as $8.44 and last traded at $8.50, approximately 625,432 shares traded hands during trading. An increase of 32% from the average daily volume of 473,068 shares. The stock had previously closed at $9.01.

IVC has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Invacare from a “hold” rating to a “sell” rating in a report on Thursday, February 13th. ValuEngine upgraded shares of Invacare from a “sell” rating to a “hold” rating in a report on Saturday, February 15th. Finally, Needham & Company LLC restated a “buy” rating and set a $17.00 price target on shares of Invacare in a report on Monday, February 10th.

The firm has a 50 day simple moving average of $8.55 and a 200-day simple moving average of $7.86. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.63 and a quick ratio of 1.08. The company has a market cap of $303.25 million, a price-to-earnings ratio of -5.31 and a beta of 2.04.

Invacare (NYSE:IVC) last posted its earnings results on Monday, February 10th. The health services provider reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.13) by ($0.15). Invacare had a negative net margin of 5.75% and a negative return on equity of 10.85%. The business had revenue of $232.90 million during the quarter, compared to analysts’ expectations of $241.26 million. During the same quarter in the prior year, the firm earned ($0.16) EPS. Invacare’s revenue for the quarter was down 4.8% compared to the same quarter last year. Research analysts anticipate that Invacare Co. will post -0.14 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 17th. Investors of record on Friday, April 3rd will be given a dividend of $0.0125 per share. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date is Thursday, April 2nd. Invacare’s payout ratio is -4.72%.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Huntington National Bank lifted its position in Invacare by 591.7% in the fourth quarter. Huntington National Bank now owns 3,507 shares of the health services provider’s stock valued at $32,000 after buying an additional 3,000 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Invacare by 34.3% in the 4th quarter. Bank of Montreal Can now owns 5,004 shares of the health services provider’s stock valued at $45,000 after acquiring an additional 1,278 shares during the period. Tower Research Capital LLC TRC purchased a new stake in shares of Invacare in the 3rd quarter valued at approximately $47,000. First Quadrant L P CA purchased a new stake in shares of Invacare in the 4th quarter valued at approximately $79,000. Finally, Eagle Asset Management Inc. acquired a new position in shares of Invacare in the 3rd quarter worth approximately $80,000.

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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