Invacare (NYSE:IVC) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Invacare (NYSE:IVC – Get Rating) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

Separately, Oppenheimer cut their price target on shares of Invacare to $2.00 in a report on Tuesday, November 15th.

Invacare Price Performance

Shares of NYSE IVC opened at $0.56 on Tuesday. Invacare has a twelve month low of $0.33 and a twelve month high of $2.63. The firm has a fifty day simple moving average of $0.45 and a 200 day simple moving average of $0.74. The company has a market capitalization of $21.14 million, a PE ratio of -0.26 and a beta of 0.22. The company has a quick ratio of 0.78, a current ratio of 1.32 and a debt-to-equity ratio of 4.82.

Invacare (NYSE:IVC – Get Rating) last posted its quarterly earnings results on Monday, November 7th. The health services provider reported ($0.54) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.17). Invacare had a negative net margin of 9.99% and a negative return on equity of 37.76%. The company had revenue of $170.41 million during the quarter, compared to the consensus estimate of $197.98 million. On average, sell-side analysts forecast that Invacare will post -2.76 EPS for the current year.

Insider Activity

In related news, insider Steven H. Rosen sold 102,820 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $0.38, for a total transaction of $39,071.60. Following the sale, the insider now owns 3,665,233 shares of the company’s stock, valued at approximately $1,392,788.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Invacare news, insider Steven H. Rosen sold 102,820 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $0.38, for a total value of $39,071.60. Following the completion of the transaction, the insider now owns 3,665,233 shares of the company’s stock, valued at approximately $1,392,788.54. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Steven H. Rosen sold 60,480 shares of the business’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $0.50, for a total transaction of $30,240.00. Following the completion of the transaction, the insider now directly owns 3,886,078 shares of the company’s stock, valued at approximately $1,943,039. The disclosure for this sale can be found here. Insiders have sold a total of 183,300 shares of company stock valued at $79,112 over the last quarter. Company insiders own 6.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Invesco Ltd. increased its stake in shares of Invacare by 298.1% in the 1st quarter. Invesco Ltd. now owns 338,289 shares of the health services provider’s stock worth $477,000 after acquiring an additional 253,310 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Invacare by 284.9% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 336,112 shares of the health services provider’s stock worth $474,000 after acquiring an additional 248,791 shares in the last quarter. Panagora Asset Management Inc. increased its stake in shares of Invacare by 517.5% in the 1st quarter. Panagora Asset Management Inc. now owns 173,814 shares of the health services provider’s stock worth $245,000 after acquiring an additional 145,668 shares in the last quarter. Atria Wealth Solutions Inc. increased its stake in Invacare by 220.0% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 160,001 shares of the health services provider’s stock valued at $205,000 after purchasing an additional 110,001 shares in the last quarter. Finally, XTX Topco Ltd increased its stake in Invacare by 716.9% during the 1st quarter. XTX Topco Ltd now owns 139,553 shares of the health services provider’s stock valued at $197,000 after purchasing an additional 122,469 shares in the last quarter. 59.87% of the stock is currently owned by institutional investors.

About Invacare

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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.