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

Posted by admin on Jan 25th, 2023

Invacare (NYSE:IVC – Get Rating) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

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

Invacare Price Performance

NYSE IVC traded down $0.02 during trading hours on Tuesday, reaching $0.56. The company’s stock had a trading volume of 224,603 shares, compared to its average volume of 256,814. The stock has a market cap of $21.14 million, a PE ratio of -0.26 and a beta of 0.22. The company has a debt-to-equity ratio of 4.82, a quick ratio of 0.78 and a current ratio of 1.32. The company’s 50-day moving average is $0.45 and its two-hundred day moving average is $0.74. Invacare has a fifty-two week low of $0.33 and a fifty-two week high of $2.63.

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

Insider Transactions at Invacare

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

Institutional Trading of Invacare

A number of institutional investors and hedge funds have recently bought and sold shares of the business. UBS Group AG increased its position in Invacare by 200.6% during the 1st quarter. UBS Group AG now owns 37,537 shares of the health services provider’s stock worth $53,000 after purchasing an additional 25,048 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Invacare by 40.4% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 90,300 shares of the health services provider’s stock worth $71,000 after purchasing an additional 26,000 shares in the last quarter. Hsbc Holdings PLC acquired a new stake in Invacare during the 1st quarter worth approximately $54,000. Rutabaga Capital Management LLC MA increased its position in Invacare by 2.4% during the 2nd quarter. Rutabaga Capital Management LLC MA now owns 1,872,034 shares of the health services provider’s stock worth $2,396,000 after purchasing an additional 43,000 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Invacare during the 1st quarter worth approximately $62,000. Institutional investors and hedge funds own 59.87% of the company’s stock.

Invacare Company Profile

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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.