Invacare Corp. (IVC) Trading 4.9% Higher
Invacare Corp. (NYSE:IVC)’s share price traded up 4.9% on Wednesday . The company traded as high as $12.68 and last traded at $12.55, with a volume of 226,265 shares changing hands. The stock had previously closed at $11.96.
Separately, Zacks Investment Research lowered shares of Invacare Corp. from a “hold” rating to a “sell” rating in a research report on Friday, April 29th.
The firm’s 50-day moving average price is $11.17 and its 200-day moving average price is $13.23. The stock’s market cap is $404.45 million.
Invacare Corp. (NYSE:IVC) last released its quarterly earnings results on Thursday, April 28th. The company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.08. The business earned $257.60 million during the quarter, compared to analysts’ expectations of $272.17 million. The firm’s revenue for the quarter was down 10.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.21) EPS. Equities research analysts anticipate that Invacare Corp. will post ($0.66) earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 13th. Stockholders of record on Tuesday, July 5th will be paid a dividend of $0.0125 per share. This represents a $0.05 annualized dividend and a dividend yield of 0.40%. The ex-dividend date is Thursday, June 30th.
In other Invacare Corp. news, CEO Matthew E. Monaghan bought 4,500 shares of Invacare Corp. stock in a transaction dated Tuesday, May 3rd. The stock was bought at an average cost of $11.39 per share, for a total transaction of $51,255.00. Following the purchase, the chief executive officer now owns 140,455 shares in the company, valued at approximately $1,599,782.45. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Clifford D. Nastas bought 5,000 shares of Invacare Corp. stock in a transaction dated Friday, May 6th. The shares were acquired at an average price of $11.01 per share, with a total value of $55,050.00. Following the completion of the purchase, the director now owns 14,932 shares in the company, valued at approximately $164,401.32. The disclosure for this purchase can be found here.
Several institutional investors have added to or reduced their stakes in 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 period. 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 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 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.