Invacare Corp. (IVC) Trading 2.6% Higher
Invacare Corp. (NYSE:IVC)’s share price traded up 2.6% during mid-day trading on Wednesday . The company traded as high as $12.27 and last traded at $12.26, with a volume of 465,598 shares traded. The stock had previously closed at $11.95.
Separately, Zacks Investment Research cut Invacare Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 2nd.
The stock’s market cap is $398.07 million. The stock has a 50-day moving average price of $12.33 and a 200 day moving average price of $12.55.
Invacare Corp. (NYSE:IVC) last released its earnings results on Thursday, July 28th. The company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.24) by $0.09. The company earned $275 million during the quarter, compared to the consensus estimate of $270.10 million. Invacare Corp.’s revenue was down 3.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.23) EPS. On average, equities analysts predict that Invacare Corp. will post ($0.95) earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 13th. Shareholders 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 annualized dividend and a yield of 0.41%.
In related news, SVP Dean J. Childers acquired 10,000 shares of the stock in a transaction on Monday, May 16th. The stock was purchased at an average price of $10.40 per share, for a total transaction of $104,000.00. Following the completion of the transaction, the senior vice president now owns 35,672 shares of the company’s stock, valued at approximately $370,988.80. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.
Other hedge funds recently made changes to their positions in the company. Nationwide Fund Advisors increased its stake in shares of 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. BlackRock Advisors LLC increased its stake in shares of Invacare Corp. by 3.7% in the fourth quarter. BlackRock Advisors LLC now owns 1,244,925 shares of the company’s stock valued at $21,649,000 after buying an additional 44,925 shares during the last quarter. Brandes Investment Partners LP increased its stake in shares of 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. Finally, Ancora Advisors LLC increased its stake in shares of Invacare Corp. by 1.0% in the fourth quarter. Ancora Advisors LLC now owns 72,542 shares of the company’s stock valued at $1,216,000 after buying an additional 742 shares during the last quarter.
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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