Invacare Corp. (IVC) Shares Up 4.9%
Invacare Corp. (NYSE:IVC) shot up 4.9% on Wednesday . The stock traded as high as $12.68 and last traded at $12.55, with a volume of 226,265 shares trading hands. The stock had previously closed at $11.96.
Separately, Zacks Investment Research cut Invacare Corp. from a “hold” rating to a “sell” rating in a research note on Friday, April 29th.
The firm’s 50 day moving average is $11.30 and its 200 day moving average is $13.22. The company’s market capitalization is $411.27 million.
Invacare Corp. (NYSE:IVC) last posted its earnings results on Thursday, April 28th. The company reported ($0.25) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.08. During the same period last year, the firm posted ($0.21) EPS. The company earned $257.60 million during the quarter, compared to analyst estimates of $272.17 million. The firm’s quarterly revenue was down 10.9% compared to the same quarter last year. Equities analysts expect that Invacare Corp. will post ($0.66) EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 13th. Investors of record on Tuesday, July 5th will be given a dividend of $0.0125 per share. This represents a $0.05 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Thursday, June 30th.
In other Invacare Corp. news, SVP Dean J. Childers bought 10,000 shares of Invacare Corp. stock in a transaction that occurred on Monday, May 16th. The stock was acquired at an average cost of $10.40 per share, for a total transaction of $104,000.00. Following the completion of the transaction, the senior vice president now directly owns 35,672 shares in the company, valued at $370,988.80. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew E. Monaghan bought 4,500 shares of Invacare Corp. stock in a transaction that occurred on Tuesday, May 3rd. The shares were acquired at an average price of $11.39 per share, with a total value of $51,255.00. Following the completion of the transaction, the chief executive officer now owns 140,455 shares of the company’s stock, valued at $1,599,782.45. The disclosure for this purchase can be found here.
A number of institutional investors have bought and sold shares of IVC. California State Teachers Retirement System boosted its position in Invacare Corp. by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 59,998 shares of the company’s stock valued at $1,043,000 after buying an additional 1,084 shares during the last quarter. Brandes Investment Partners LP boosted its position in Invacare Corp. by 27.2% in the fourth quarter. Brandes Investment Partners LP now owns 72,728 shares of the company’s stock valued at $1,264,000 after buying an additional 15,550 shares during the last quarter. Nationwide Fund Advisors boosted its position in Invacare Corp. by 195.2% in the fourth quarter. Nationwide Fund Advisors now owns 94,166 shares of the company’s stock valued at $1,638,000 after buying an additional 62,271 shares during the last quarter. Finally, Heartland Advisors Inc. boosted its position in Invacare Corp. by 6.6% in the fourth quarter. Heartland Advisors Inc. now owns 3,517,138 shares of the company’s stock valued at $61,163,000 after buying an additional 216,310 shares during the last quarter.
Invacare Corporation is a manufacturer and distributor for medical equipment used in the home and long-term care settings, based upon its distribution channels, breadth of product line and net sales. The Company designs, manufactures and distributes health care products for the non-acute care environment, including the home health care and extended care markets.
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