Insider Selling: Invacare Corporation (IVC) SVP Sells $94,672.35 in Stock
Invacare Corporation (NYSE:IVC) SVP Dean J. Childers sold 6,249 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $15.15, for a total transaction of $94,672.35. Following the transaction, the senior vice president now owns 44,875 shares of the company’s stock, valued at $679,856.25. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of Invacare Corporation (NYSE IVC) traded up 4.00% during midday trading on Friday, hitting $15.60. 814,827 shares of the stock were exchanged. The stock’s market capitalization is $512.77 million. Invacare Corporation has a 1-year low of $8.00 and a 1-year high of $16.65. The firm’s 50 day moving average is $14.18 and its 200-day moving average is $13.24.
Invacare Corporation (NYSE:IVC) last released its quarterly earnings results on Monday, August 7th. The health services provider reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.42) by ($0.21). Invacare Corporation had a negative return on equity of 12.79% and a negative net margin of 6.42%. The firm had revenue of $233.50 million for the quarter, compared to analysts’ expectations of $243.03 million. During the same quarter last year, the firm posted ($0.33) earnings per share. The firm’s revenue for the quarter was down 15.1% compared to the same quarter last year. On average, analysts predict that Invacare Corporation will post ($1.87) EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Thursday, October 5th will be issued a dividend of $0.0125 per share. This represents a $0.05 annualized dividend and a yield of 0.32%. The ex-dividend date is Wednesday, October 4th. Invacare Corporation’s dividend payout ratio (DPR) is presently -2.59%.
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A number of institutional investors have recently added to or reduced their stakes in IVC. Teachers Advisors LLC boosted its holdings in Invacare Corporation by 33.4% during the fourth quarter. Teachers Advisors LLC now owns 66,187 shares of the health services provider’s stock worth $864,000 after purchasing an additional 16,576 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in Invacare Corporation by 0.8% during the first quarter. Louisiana State Employees Retirement System now owns 12,900 shares of the health services provider’s stock worth $154,000 after purchasing an additional 100 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Invacare Corporation by 5.8% during the first quarter. Wells Fargo & Company MN now owns 308,371 shares of the health services provider’s stock worth $3,669,000 after purchasing an additional 16,896 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in Invacare Corporation by 10.9% during the first quarter. Great West Life Assurance Co. Can now owns 44,139 shares of the health services provider’s stock worth $523,000 after purchasing an additional 4,329 shares during the last quarter. Finally, Boston Partners purchased a new position in Invacare Corporation during the first quarter worth about $1,648,000.
IVC has been the subject of a number of recent research reports. BidaskClub downgraded shares of Invacare Corporation from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. ValuEngine upgraded shares of Invacare Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Sidoti restated a “neutral” rating and set a $12.00 price objective (down from $14.00) on shares of Invacare Corporation in a research note on Monday, June 12th. Finally, Zacks Investment Research downgraded shares of Invacare Corporation from a “hold” rating to a “sell” rating in a research note on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Invacare Corporation currently has a consensus rating of “Hold” and an average price target of $14.50.
About Invacare Corporation
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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