Needham & Company LLC Reaffirms Buy Rating for Invacare (NYSE:IVC)

Invacare (NYSE:IVC)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a report released on Thursday, AnalystRatings.com reports. They presently have a $15.00 target price on the health services provider’s stock. Needham & Company LLC’s price target indicates a potential upside of 114.59% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. ValuEngine upgraded shares of Invacare from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Zacks Investment Research cut shares of Invacare from a “hold” rating to a “sell” rating in a research note on Tuesday.

NYSE IVC opened at $6.99 on Thursday. Invacare has a 12 month low of $3.05 and a 12 month high of $14.80. The stock has a market cap of $235.42 million, a price-to-earnings ratio of -5.30 and a beta of 2.05. The company’s 50 day moving average is $6.46 and its two-hundred day moving average is $6.15. The company has a current ratio of 1.90, a quick ratio of 1.26 and a debt-to-equity ratio of 0.83.

Invacare (NYSE:IVC) last released its earnings results on Monday, August 5th. The health services provider reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.03). Invacare had a negative return on equity of 11.26% and a negative net margin of 4.20%. The firm had revenue of $235.90 million for the quarter, compared to the consensus estimate of $238.32 million. During the same quarter in the previous year, the business posted ($0.41) EPS. Invacare’s revenue was down 4.2% on a year-over-year basis. Sell-side analysts forecast that Invacare will post -1.13 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Invacare by 2.8% during the second quarter. BlackRock Inc. now owns 5,059,730 shares of the health services provider’s stock valued at $26,261,000 after buying an additional 138,505 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Invacare by 85.9% during the second quarter. Renaissance Technologies LLC now owns 1,239,500 shares of the health services provider’s stock valued at $6,433,000 after buying an additional 572,800 shares during the last quarter. Marshall Wace LLP raised its position in shares of Invacare by 141.0% during the first quarter. Marshall Wace LLP now owns 973,474 shares of the health services provider’s stock valued at $8,149,000 after buying an additional 569,509 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Invacare by 3.1% during the second quarter. Charles Schwab Investment Management Inc. now owns 538,403 shares of the health services provider’s stock valued at $2,795,000 after buying an additional 16,014 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Invacare by 1.5% during the second quarter. Northern Trust Corp now owns 442,644 shares of the health services provider’s stock valued at $2,297,000 after buying an additional 6,549 shares during the last quarter.

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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