Invacare (NYSE:IVC) Raised to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Invacare (NYSE:IVC) from a sell rating to a hold rating in a research note released on Tuesday, Zacks.com reports.

According to Zacks, “Invacare Corporation is a leading manufacturer and distributor in its markets for medical equipment used in non-acute care settings. At its core, the company designs, manufactures and distributes medical devices that help people to move, breathe, rest and perform essential hygiene. The company provides clinically complex medical device solutions for congenital (e.g., cerebral palsy, muscular dystrophy, spina bifida), acquired (e.g., stroke, spinal cord injury, traumatic brain injury, post-acute recovery, pressure ulcers) and degenerative (e.g., ALS, multiple sclerosis, chronic obstructive pulmonary disease (COPD), elderly, bariatric) ailments. The company’s products are important parts of care for people with a wide range of challenges, from those who are active and involved in work or school each day and may need additional mobility or respiratory support, to those who are cared for in residential care settings, at home and in rehabilitation centers. “

A number of other equities research analysts have also weighed in on IVC. Needham & Company LLC reissued a buy rating and set a $100.00 target price on shares of LivaNova in a report on Tuesday, April 9th. ValuEngine lowered shares of Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st.

Shares of Invacare stock opened at $4.89 on Tuesday. The company has a market cap of $165.09 million, a price-to-earnings ratio of -3.70 and a beta of 2.04. The company has a quick ratio of 1.29, a current ratio of 1.97 and a debt-to-equity ratio of 0.78. The firm’s 50 day moving average is $5.51. Invacare has a 1 year low of $3.05 and a 1 year high of $18.25.

Invacare (NYSE:IVC) last posted its earnings results on Monday, May 6th. The health services provider reported ($0.32) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.33) by $0.01. Invacare had a negative net margin of 4.56% and a negative return on equity of 11.69%. The firm had revenue of $223.40 million for the quarter, compared to analyst estimates of $229.93 million. During the same period in the previous year, the firm posted ($0.35) EPS. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. As a group, equities research analysts predict that Invacare will post -1.03 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 22nd. Shareholders of record on Friday, July 5th will be issued a dividend of $0.0125 per share. This represents a $0.05 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Wednesday, July 3rd. Invacare’s payout ratio is -3.79%.

Several large investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its stake in shares of Invacare by 45.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 5,778 shares of the health services provider’s stock valued at $25,000 after purchasing an additional 1,814 shares during the last quarter. Crossmark Global Holdings Inc. boosted its stake in shares of Invacare by 8.0% in the 1st quarter. Crossmark Global Holdings Inc. now owns 25,006 shares of the health services provider’s stock valued at $209,000 after purchasing an additional 1,850 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of Invacare by 27.8% in the 4th quarter. SG Americas Securities LLC now owns 10,007 shares of the health services provider’s stock valued at $43,000 after purchasing an additional 2,179 shares during the last quarter. Magnus Financial Group LLC boosted its stake in shares of Invacare by 16.9% in the 1st quarter. Magnus Financial Group LLC now owns 17,499 shares of the health services provider’s stock valued at $146,000 after purchasing an additional 2,532 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Invacare by 0.9% in the 4th quarter. Principal Financial Group Inc. now owns 296,793 shares of the health services provider’s stock valued at $1,276,000 after purchasing an additional 2,737 shares during the last quarter.

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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