Invacare (NYSE:IVC) Lowered to Sell at ValuEngine

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Invacare (NYSE:IVC) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.

Several other equities analysts have also recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price objective on shares of Invacare in a research note on Wednesday. Zacks Investment Research upgraded shares of Invacare from a “sell” rating to a “hold” rating in a research note on Tuesday, November 5th.

Shares of NYSE IVC traded down $0.56 during trading on Thursday, reaching $10.70. 968,717 shares of the company traded hands, compared to its average volume of 589,246. The firm has a 50 day simple moving average of $7.28 and a 200-day simple moving average of $6.12. The company has a quick ratio of 1.26, a current ratio of 1.90 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $286.61 million, a PE ratio of -8.11 and a beta of 1.98. Invacare has a 52-week low of $3.05 and a 52-week high of $11.63.

Invacare (NYSE:IVC) last announced its quarterly earnings results on Wednesday, November 6th. The health services provider reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.05. The firm had revenue of $235.80 million for the quarter, compared to the consensus estimate of $244.81 million. Invacare had a negative net margin of 4.20% and a negative return on equity of 11.26%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.40) EPS. As a group, research analysts predict that Invacare will post -1.13 EPS for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its stake in Invacare by 85.9% during the second quarter. Renaissance Technologies LLC now owns 1,239,500 shares of the health services provider’s stock worth $6,433,000 after buying an additional 572,800 shares during the last quarter. Stephens Inc. AR raised its stake in Invacare by 1,367.0% during the third quarter. Stephens Inc. AR now owns 293,398 shares of the health services provider’s stock worth $2,200,000 after buying an additional 273,398 shares during the last quarter. River & Mercantile Asset Management LLP bought a new position in Invacare during the second quarter worth $1,233,000. Acadian Asset Management LLC raised its stake in Invacare by 129.4% during the second quarter. Acadian Asset Management LLC now owns 362,135 shares of the health services provider’s stock worth $1,879,000 after buying an additional 204,264 shares during the last quarter. Finally, BlackRock Inc. raised its stake in Invacare by 2.8% during the second quarter. BlackRock Inc. now owns 5,059,730 shares of the health services provider’s stock worth $26,261,000 after buying an additional 138,505 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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