Invacare Corp. (IVC) Shares Down 1.7%
Invacare Corp. (NYSE:IVC) shares dropped 1.7% during mid-day trading on Wednesday . The stock traded as low as $11.45 and last traded at $11.60, with a volume of 184,050 shares traded. The stock had previously closed at $11.80.
Separately, Zacks Investment Research downgraded shares of Invacare Corp. from a “hold” rating to a “sell” rating in a report on Friday, April 29th.
The stock has a 50-day moving average of $12.29 and a 200-day moving average of $12.66. The company’s market cap is $371.30 million.
Invacare Corp. (NYSE:IVC) last posted its earnings results on Thursday, July 28th. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.24) by $0.09. The company earned $275 million during the quarter, compared to analysts’ expectations of $270.10 million. During the same quarter last year, the business posted ($0.23) earnings per share. The firm’s revenue for the quarter was down 3.9% compared to the same quarter last year. Analysts forecast that Invacare Corp. will post ($0.95) earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 13th. Investors of record on Tuesday, July 5th were issued a dividend of $0.0125 per share. This represents a $0.05 annualized dividend and a yield of 0.44%. The ex-dividend date was Thursday, June 30th.
In other Invacare Corp. news, SVP Dean J. Childers purchased 10,000 shares of the stock in a transaction on Monday, May 16th. The shares were bought 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
A number of institutional investors have modified their holdings of IVC. California State Teachers Retirement System increased its position in shares of Invacare Corp. by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 59,998 shares of the company’s stock worth $1,043,000 after buying an additional 1,084 shares in the last quarter. Brandes Investment Partners LP increased its position 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 worth $1,264,000 after buying an additional 15,550 shares in the last quarter. Nationwide Fund Advisors increased its position 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 worth $1,638,000 after buying an additional 62,271 shares in the last quarter. Finally, BlackRock Advisors LLC increased its position 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 worth $21,649,000 after buying an additional 44,925 shares in 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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