KeyCorp Analysts Lower Earnings Estimates for Invacare Co. (NYSE:IVC)

Invacare Co. (NYSE:IVC) – KeyCorp dropped their Q4 2021 EPS estimates for shares of Invacare in a report released on Monday, September 13th. KeyCorp analyst M. Mishan now forecasts that the health services provider will post earnings per share of $0.01 for the quarter, down from their previous forecast of $0.03.

Invacare (NYSE:IVC) last released its quarterly earnings data on Wednesday, August 4th. The health services provider reported ($0.28) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.05). The company had revenue of $225.86 million for the quarter, compared to analysts’ expectations of $216.00 million. Invacare had a negative return on equity of 9.52% and a negative net margin of 4.33%. During the same period in the prior year, the firm posted ($0.21) EPS.

Several other brokerages also recently issued reports on IVC. Oppenheimer began coverage on shares of Invacare in a report on Thursday, August 19th. They issued an “outperform” rating and a $11.00 price target on the stock. Zacks Investment Research downgraded shares of Invacare from a “hold” rating to a “strong sell” rating in a report on Wednesday, August 11th. Finally, Needham & Company LLC reduced their price target on shares of Invacare from $17.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, September 10th.

Shares of NYSE IVC opened at $5.92 on Wednesday. Invacare has a 12-month low of $5.03 and a 12-month high of $10.94. The company has a market capitalization of $207.25 million, a PE ratio of -5.48 and a beta of 0.87. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.57 and a quick ratio of 0.98. The firm’s 50-day moving average is $7.72 and its two-hundred day moving average is $8.15.

In related news, Director Baiju R. Shah sold 6,948 shares of the company’s stock in a transaction that occurred on Friday, August 6th. The shares were sold at an average price of $8.50, for a total transaction of $59,058.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.20% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in shares of Invacare by 6.0% during the first quarter. BlackRock Inc. now owns 5,566,382 shares of the health services provider’s stock valued at $44,642,000 after buying an additional 316,299 shares during the period. Paradigm Capital Management Inc. NY raised its stake in Invacare by 0.4% during the second quarter. Paradigm Capital Management Inc. NY now owns 2,654,900 shares of the health services provider’s stock worth $21,425,000 after purchasing an additional 11,000 shares during the period. Dimensional Fund Advisors LP raised its stake in Invacare by 1.9% during the second quarter. Dimensional Fund Advisors LP now owns 2,353,264 shares of the health services provider’s stock worth $18,991,000 after purchasing an additional 44,061 shares during the period. Vanguard Group Inc. raised its stake in Invacare by 3.4% during the second quarter. Vanguard Group Inc. now owns 2,300,713 shares of the health services provider’s stock worth $18,567,000 after purchasing an additional 76,683 shares during the period. Finally, Millennium Management LLC raised its stake in Invacare by 1.0% during the second quarter. Millennium Management LLC now owns 2,125,781 shares of the health services provider’s stock worth $17,155,000 after purchasing an additional 21,719 shares during the period.

Invacare Company Profile

Invacare Corp. engages in the manufacture and distribution of medical equipment used in non-acute care settings. It focuses on medical device solutions for congenital, acquired, and degenerative ailments. The firm operates through the following segments: North America and Europe. The company was founded by Aaron Malachi Mixon III in 1979 and is headquartered in Elyria, OH.

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Earnings History and Estimates for Invacare (NYSE:IVC)

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