Invacare Corp. (IVC) Shares Up 2.5%
Invacare Corp. (NYSE:IVC) shot up 2.5% during trading on Monday . The company traded as high as $13.38 and last traded at $13.36, with a volume of 275,514 shares traded. The stock had previously closed at $13.03.
Separately, Zacks Investment Research lowered Invacare Corp. from a “hold” rating to a “sell” rating in a research report on Friday, April 29th.
The firm’s market cap is $434.01 million. The company has a 50 day moving average price of $12.12 and a 200-day moving average price of $12.84.
Invacare Corp. (NYSE:IVC) last issued its quarterly earnings results on Thursday, April 28th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by $0.08. The firm earned $257.60 million during the quarter, compared to analysts’ expectations of $272.17 million. During the same quarter in the prior year, the company posted ($0.21) earnings per share. The firm’s quarterly revenue was down 10.9% on a year-over-year basis. On average, equities research analysts forecast that Invacare Corp. will post ($0.66) EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 13th. Stockholders of record on Tuesday, July 5th were given a $0.0125 dividend. The ex-dividend date was Thursday, June 30th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.37%.
In other Invacare Corp. news, SVP Dean J. Childers acquired 10,000 shares of the stock in a transaction that occurred on Monday, May 16th. The shares were acquired at an average cost of $10.40 per share, with a total value of $104,000.00. Following the transaction, the senior vice president now owns 35,672 shares of the company’s stock, valued at approximately $370,988.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Clifford D. Nastas acquired 5,000 shares of the stock in a transaction that occurred on Friday, May 6th. The stock was acquired at an average cost of $11.01 per share, for a total transaction of $55,050.00. Following the completion of the transaction, the director now directly owns 14,932 shares in the company, valued at approximately $164,401.32. The disclosure for this purchase can be found here.
A number of institutional investors have added to or reduced their stakes in the stock. 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 period. 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 period. Finally, 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 period.
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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