Millennium Management LLC Raises Stock Holdings in Invacare Co. (NYSE:IVC)

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Millennium Management LLC boosted its position in shares of Invacare Co. (NYSE:IVC) by 4,759.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 2,536,931 shares of the health services provider’s stock after acquiring an additional 2,484,723 shares during the quarter. Millennium Management LLC owned about 0.08% of Invacare worth $19,026,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Tyers Asset Management LLC purchased a new position in shares of Invacare in the second quarter worth about $28,000. Bank of Montreal Can lifted its stake in Invacare by 86.0% during the 2nd quarter. Bank of Montreal Can now owns 6,162 shares of the health services provider’s stock valued at $32,000 after acquiring an additional 2,849 shares during the period. Flinton Capital Management LLC acquired a new stake in Invacare during the 2nd quarter valued at approximately $36,000. Neuburgh Advisers LLC purchased a new stake in shares of Invacare in the 2nd quarter valued at $44,000. Finally, Tower Research Capital LLC TRC purchased a new stake in shares of Invacare in the 3rd quarter valued at $47,000.

Invacare stock opened at $9.20 on Wednesday. The firm has a market cap of $293.83 million, a price-to-earnings ratio of -6.97 and a beta of 2.03. Invacare Co. has a 52 week low of $3.05 and a 52 week high of $11.63. The business’s 50-day moving average price is $8.47 and its 200 day moving average price is $6.41. The company has a quick ratio of 1.16, a current ratio of 1.76 and a debt-to-equity ratio of 0.83.

Invacare (NYSE:IVC) last released its quarterly earnings data on Wednesday, November 6th. The health services provider reported ($0.15) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.20) by $0.05. The business had revenue of $235.80 million for the quarter, compared to analyst estimates of $244.81 million. Invacare had a negative return on equity of 9.30% and a negative net margin of 3.82%. The business’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.40) EPS. Equities analysts expect that Invacare Co. will post -1.09 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.0125 per share. This represents a $0.05 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Thursday, January 2nd. Invacare’s dividend payout ratio (DPR) is -3.79%.

IVC has been the subject of several recent research reports. Needham & Company LLC reissued a “buy” rating and set a $15.00 target price on shares of Invacare in a report on Wednesday, November 6th. Zacks Investment Research raised shares of Invacare from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Wednesday, November 13th. Finally, ValuEngine downgraded Invacare from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 14th.

Invacare Company Profile

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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Institutional Ownership by Quarter for Invacare (NYSE:IVC)

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