Invacare (NYSE:IVC) Announces Quarterly Earnings Results

Invacare (NYSE:IVCGet Rating) posted its quarterly earnings data on Monday. The health services provider reported ($0.69) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.26), reports. The firm had revenue of $200.99 million during the quarter, compared to the consensus estimate of $196.34 million. Invacare had a negative net margin of 5.22% and a negative return on equity of 9.22%.

Shares of NYSE:IVC traded down $0.01 on Thursday, hitting $1.04. 602,642 shares of the company’s stock were exchanged, compared to its average volume of 746,955. The company has a market capitalization of $36.46 million, a PE ratio of -0.79 and a beta of 0.82. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.98 and a current ratio of 1.56. Invacare has a 1-year low of $1.02 and a 1-year high of $8.83. The firm’s 50-day moving average is $1.55 and its 200 day moving average is $2.43.

Separately, StockNews.com assumed coverage on shares of Invacare in a report on Thursday, March 31st. They set a “hold” rating on the stock.

In other news, CFO Kathleen P. Leneghan bought 20,000 shares of the business’s stock in a transaction on Friday, March 11th. The shares were bought at an average cost of $1.49 per share, with a total value of $29,800.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew E. Monaghan acquired 33,000 shares of the firm’s stock in a transaction that occurred on Friday, March 11th. The stock was acquired at an average price of $1.49 per share, with a total value of $49,170.00. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 63,000 shares of company stock valued at $93,870. Company insiders own 6.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Morgan Stanley lifted its position in shares of Invacare by 1,297.4% during the second quarter. Morgan Stanley now owns 1,871,866 shares of the health services provider’s stock valued at $15,106,000 after purchasing an additional 1,737,912 shares in the last quarter. Rutabaga Capital Management LLC MA lifted its holdings in shares of Invacare by 60.5% in the 1st quarter. Rutabaga Capital Management LLC MA now owns 1,829,034 shares of the health services provider’s stock worth $2,579,000 after acquiring an additional 689,324 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in Invacare by 114.7% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,606,285 shares of the health services provider’s stock valued at $4,369,000 after buying an additional 858,212 shares during the last quarter. Millennium Management LLC raised its holdings in Invacare by 3.9% during the 4th quarter. Millennium Management LLC now owns 1,399,103 shares of the health services provider’s stock valued at $3,806,000 after buying an additional 52,314 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in Invacare by 19.4% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,347,872 shares of the health services provider’s stock valued at $6,416,000 after purchasing an additional 218,778 shares during the period. 89.87% of the stock is owned by hedge funds and other institutional investors.

About Invacare (Get Rating)

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 offers mobility and seating products, such as power wheelchairs under the Invacare TDX brand; custom manual wheelchairs under the Invacare, Invacare Top End, and Küschall brand names; and seating and positioning products under the Invacare brand, as well as custom molded seat modules under the PinDot brand.

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Earnings History for Invacare (NYSE:IVC)

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