Invacare (NYSE:IVC) posted its quarterly earnings results on Monday. The health services provider reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.10), Briefing.com reports. The firm had revenue of $244.60 million for the quarter, compared to the consensus estimate of $250.59 million. Invacare had a negative return on equity of 12.52% and a negative net margin of 6.80%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.41) EPS.
Shares of IVC stock traded down $0.25 on Wednesday, hitting $7.22. 45,506 shares of the stock were exchanged, compared to its average volume of 409,610. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.41 and a current ratio of 2.10. The company has a market capitalization of $455.65 million, a price-to-earnings ratio of -3.71 and a beta of 2.07. Invacare has a one year low of $7.01 and a one year high of $20.00.
The company also recently declared a quarterly dividend, which was paid on Friday, October 26th. Stockholders of record on Friday, October 12th were paid a dividend of $0.0125 per share. The ex-dividend date of this dividend was Thursday, October 11th. This represents a $0.05 annualized dividend and a dividend yield of 0.69%. Invacare’s payout ratio is -2.59%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can lifted its holdings in Invacare by 7,076.0% during the 2nd quarter. Bank of Montreal Can now owns 7,463 shares of the health services provider’s stock worth $139,000 after purchasing an additional 7,359 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new stake in Invacare during the 2nd quarter worth about $144,000. Contravisory Investment Management Inc. purchased a new stake in Invacare during the 2nd quarter worth about $159,000. Brown Advisory Inc. purchased a new stake in Invacare during the 2nd quarter worth about $207,000. Finally, SG Americas Securities LLC purchased a new stake in Invacare during the 2nd quarter worth about $234,000.
Several research firms have recently weighed in on IVC. Zacks Investment Research downgraded Invacare from a “hold” rating to a “sell” rating in a research note on Tuesday, August 21st. ValuEngine downgraded Invacare from a “buy” rating to a “hold” rating in a research note on Friday, September 21st. Finally, TheStreet downgraded Invacare from a “c” rating to a “d+” rating in a research note on Friday, August 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Invacare currently has an average rating of “Hold” and an average target price of $21.50.
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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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