Published On: Tue, Sep 13th, 2016

Invacare Corp. (IVC) Shares Down 7.5%

Invacare Corp. (NYSE:IVC) dropped 7.5% during trading on Tuesday . The stock traded as low as $10.84 and last traded at $11.09, with a volume of 309,403 shares traded. The stock had previously closed at $11.99.
Separately, Zacks Investment Research raised shares of Invacare Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 26th.
The firm’s market capitalization is $381.84 million. The stock’s 50-day moving average price is $12.00 and its 200 day moving average price is $12.14.

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Invacare Corp. (NYSE:IVC) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.33) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.24) by $0.09. Invacare Corp. had a negative net margin of 2.81% and a negative return on equity of 5.16%. The firm had revenue of $275 million for the quarter, compared to the consensus estimate of $270.10 million. During the same quarter last year, the firm earned ($0.23) EPS. The company’s revenue was down 3.9% on a year-over-year basis. Equities analysts anticipate that Invacare Corp. will post ($0.95) earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Shareholders of record on Thursday, October 13th will be given a dividend of $0.0125 per share. This represents a $0.05 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Tuesday, October 11th. Invacare Corp.’s dividend payout ratio (DPR) is -5.21%.
A number of hedge funds and other institutional investors have recently bought and sold shares of IVC. Brandes Investment Partners LP boosted its position in Invacare Corp. by 754.3% in the second quarter. Brandes Investment Partners LP now owns 951,052 shares of the company’s stock worth $11,536,000 after buying an additional 839,722 shares during the period. Emerald Acquisition Ltd. purchased a new position in Invacare Corp. during the second quarter worth $6,796,000. JPMorgan Chase & Co. boosted its position in Invacare Corp. by 276.3% in the second quarter. JPMorgan Chase & Co. now owns 761,713 shares of the company’s stock worth $9,240,000 after buying an additional 559,308 shares during the period. Franklin Resources Inc. boosted its position in Invacare Corp. by 16.9% in the first quarter. Franklin Resources Inc. now owns 2,494,237 shares of the company’s stock worth $32,849,000 after buying an additional 360,000 shares during the period. Finally, Renaissance Technologies LLC boosted its position in Invacare Corp. by 208.5% in the first quarter. Renaissance Technologies LLC now owns 344,000 shares of the company’s stock worth $4,530,000 after buying an additional 232,500 shares during the period. Institutional investors and hedge funds own 90.80% of the company’s stock.
About Invacare Corp.
Invacare Corporation is a manufacturer and distributor for medical equipment used in non-acute care settings. The Company’s geographical segments are Europe; North America, which includes North America/Home Medical Equipment (North America/HME) and Institutional Products Group (IPG) segments, and Asia/Pacific.

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