Invacare (NYSE:IVC) Stock Price Down 7.6%

Shares of Invacare Co. (NYSE:IVC) were down 7.6% during mid-day trading on Friday . The company traded as low as $6.07 and last traded at $6.17, approximately 500,251 shares changed hands during trading. A decline of 15% from the average daily volume of 586,645 shares. The stock had previously closed at $6.68.

A number of equities analysts recently issued reports on IVC shares. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 target price on shares of Invacare in a research report on Thursday, October 10th. ValuEngine raised shares of Invacare from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Finally, Zacks Investment Research raised shares of Invacare from a “sell” rating to a “hold” rating in a research report on Friday.

The stock’s 50-day moving average is $6.72 and its 200-day moving average is $6.10. The firm has a market cap of $247.20 million, a P/E ratio of -4.67 and a beta of 2.05. The company has a quick ratio of 1.26, a current ratio of 1.90 and a debt-to-equity ratio of 0.83.

Invacare (NYSE:IVC) last announced its earnings results on Monday, August 5th. The health services provider reported ($0.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.28) by ($0.03). Invacare had a negative return on equity of 11.26% and a negative net margin of 4.20%. The company had revenue of $235.90 million for the quarter, compared to the consensus estimate of $238.32 million. During the same period last year, the firm posted ($0.41) EPS. The company’s revenue was down 4.2% compared to the same quarter last year. As a group, analysts expect that Invacare Co. will post -1.13 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 8.10%. The ex-dividend date is Thursday, October 10th. This is a positive change from Invacare’s previous quarterly dividend of $0.01. Invacare’s payout ratio is -3.79%.

A number of institutional investors have recently made changes to their positions in the business. US Bancorp DE increased its holdings in Invacare by 12.9% in the 2nd quarter. US Bancorp DE now owns 20,648 shares of the health services provider’s stock valued at $107,000 after buying an additional 2,363 shares during the period. Bank of Montreal Can increased its holdings in Invacare by 86.0% in the 2nd quarter. Bank of Montreal Can now owns 6,162 shares of the health services provider’s stock valued at $32,000 after buying an additional 2,849 shares during the period. Nisa Investment Advisors LLC increased its holdings in Invacare by 16.6% in the 2nd quarter. Nisa Investment Advisors LLC now owns 21,100 shares of the health services provider’s stock valued at $110,000 after buying an additional 3,000 shares during the period. Crossmark Global Holdings Inc. increased its holdings in Invacare by 12.5% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 28,120 shares of the health services provider’s stock valued at $146,000 after buying an additional 3,114 shares during the period. Finally, Tyers Asset Management LLC bought a new stake in Invacare in the 2nd quarter valued at $28,000.

About Invacare (NYSE:IVC)

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 Europe, North America/Home Medical Equipment, Institutional Products Group, and the Asia/Pacific segments.

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