40,800 Shares in Invacare Co. (IVC) Acquired by Axa
Axa acquired a new position in Invacare Co. (NYSE:IVC) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 40,800 shares of the health services provider’s stock, valued at approximately $594,000. Axa owned about 0.12% of Invacare at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Bank of Montreal Can raised its stake in shares of Invacare by 7,076.0% in the second quarter. Bank of Montreal Can now owns 7,463 shares of the health services provider’s stock valued at $139,000 after buying an additional 7,359 shares during the period. Piedmont Investment Advisors LLC bought a new stake in shares of Invacare in the second quarter valued at $144,000. Brown Advisory Inc. bought a new stake in shares of Invacare in the second quarter valued at $207,000. SG Americas Securities LLC bought a new stake in shares of Invacare in the second quarter valued at $234,000. Finally, Segall Bryant & Hamill LLC bought a new stake in shares of Invacare in the second quarter valued at $669,000.
A number of analysts recently issued reports on IVC shares. Zacks Investment Research lowered Invacare from a “hold” rating to a “sell” rating in a research note on Wednesday, November 14th. TheStreet lowered Invacare from a “c” rating to a “d+” rating in a research note on Friday, August 10th. Finally, ValuEngine upgraded Invacare from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.50.
Invacare (NYSE:IVC) last released its quarterly earnings data on Monday, November 5th. The health services provider reported ($0.40) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.10). Invacare had a negative net margin of 6.17% and a negative return on equity of 12.98%. The company had revenue of $244.60 million for the quarter, compared to the consensus estimate of $250.59 million. During the same quarter in the previous year, the firm posted ($0.41) earnings per share. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. Research analysts forecast that Invacare Co. will post -1.55 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 17th. Investors of record on Friday, January 4th will be paid a dividend of $0.0125 per share. The ex-dividend date is Thursday, January 3rd. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.03%. Invacare’s payout ratio is -2.59%.
In other Invacare news, Chairman Matthew E. Monaghan bought 13,750 shares of the firm’s stock in a transaction on Thursday, November 8th. The shares were acquired at an average cost of $7.26 per share, for a total transaction of $99,825.00. Following the purchase, the chairman now directly owns 243,897 shares of the company’s stock, valued at $1,770,692.22. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Kathleen P. Leneghan bought 6,500 shares of the firm’s stock in a transaction on Tuesday, November 20th. The stock was acquired at an average price of $5.52 per share, for a total transaction of $35,880.00. Following the completion of the purchase, the vice president now directly owns 45,416 shares in the company, valued at $250,696.32. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 29,250 shares of company stock worth $184,485. 2.10% of the stock is currently owned by corporate insiders.
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Invacare Corporation, together with its subsidiaries, designs, manufactures, distributes, and exports medical equipment for use in home health care, retail, and extended care markets worldwide. The company operates through four segments: North America/Home Medical Equipment, Institutional Products Group, Europe, and the Asia/Pacific.
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