Invacare (NYSE:IVC) Upgraded to “Hold” at BidaskClub

BidaskClub upgraded shares of Invacare (NYSE:IVC) from a sell rating to a hold rating in a research note released on Friday morning, BidAskClub reports.

Several other brokerages have also issued reports on IVC. Zacks Investment Research upgraded shares of Invacare from a hold rating to a buy rating and set a $9.75 target price for the company in a research report on Friday, December 18th. ValuEngine upgraded shares of Invacare from a hold rating to a buy rating in a research report on Thursday, December 17th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $12.58.

Shares of IVC stock opened at $8.95 on Friday. The company has a 50 day moving average price of $8.74 and a 200-day moving average price of $7.52. Invacare has a 52 week low of $3.90 and a 52 week high of $9.67. The firm has a market capitalization of $308.04 million, a PE ratio of -7.28 and a beta of 0.96. The company has a quick ratio of 1.00, a current ratio of 1.63 and a debt-to-equity ratio of 0.91.

Invacare (NYSE:IVC) last announced its quarterly earnings results on Thursday, October 29th. The health services provider reported ($0.10) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.09. Invacare had a negative net margin of 4.87% and a negative return on equity of 8.76%. The firm had revenue of $211.91 million during the quarter, compared to analyst estimates of $204.30 million. Analysts anticipate that Invacare will post -0.81 earnings per share for the current year.

A number of large investors have recently modified their holdings of IVC. Paradigm Capital Management Inc. NY lifted its holdings in Invacare by 133.3% during the third quarter. Paradigm Capital Management Inc. NY now owns 1,850,100 shares of the health services provider’s stock valued at $13,913,000 after purchasing an additional 1,057,000 shares in the last quarter. Marshall Wace North America L.P. lifted its holdings in Invacare by 51.0% during the second quarter. Marshall Wace North America L.P. now owns 416,467 shares of the health services provider’s stock valued at $2,653,000 after purchasing an additional 140,736 shares in the last quarter. First Trust Advisors LP purchased a new position in Invacare during the third quarter valued at approximately $654,000. Polar Asset Management Partners Inc. purchased a new position in Invacare during the third quarter valued at approximately $651,000. Finally, GSA Capital Partners LLP lifted its holdings in Invacare by 252.0% during the third quarter. GSA Capital Partners LLP now owns 84,081 shares of the health services provider’s stock valued at $632,000 after purchasing an additional 60,191 shares in the last quarter. 96.83% of the stock is currently owned by institutional investors and hedge funds.

About Invacare

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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