Brokerages Set Invacare Co. (IVC) Target Price at $16.50

Invacare Co. (NYSE:IVC) has earned a consensus recommendation of “Hold” from the six research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $16.50.

A number of research analysts have weighed in on IVC shares. Zacks Investment Research raised shares of Invacare from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. KeyCorp reaffirmed a “buy” rating and set a $20.00 price target on shares of Invacare in a research report on Thursday, December 21st. Finally, ValuEngine raised shares of Invacare from a “sell” rating to a “hold” rating in a research report on Sunday, December 31st.

Invacare (NYSE IVC) traded up $0.15 during trading on Tuesday, reaching $18.35. 197,562 shares of the company were exchanged, compared to its average volume of 448,065. Invacare has a 52-week low of $10.20 and a 52-week high of $19.05. The stock has a market capitalization of $715.16, a P/E ratio of -7.74 and a beta of 2.55. The company has a current ratio of 2.10, a quick ratio of 1.54 and a debt-to-equity ratio of 0.57.

Invacare (NYSE:IVC) last released its earnings results on Wednesday, February 7th. The health services provider reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.02. The firm had revenue of $250.35 million during the quarter, compared to the consensus estimate of $241.07 million. Invacare had a negative net margin of 7.92% and a negative return on equity of 14.95%. Invacare’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.46) earnings per share. analysts anticipate that Invacare will post -1.16 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. MetLife Investment Advisors LLC acquired a new position in Invacare during the fourth quarter valued at approximately $268,000. Millennium Management LLC lifted its position in Invacare by 118.0% during the fourth quarter. Millennium Management LLC now owns 347,888 shares of the health services provider’s stock valued at $5,862,000 after buying an additional 188,331 shares in the last quarter. HBK Investments L P acquired a new position in Invacare during the fourth quarter valued at approximately $180,000. Stone Ridge Asset Management LLC acquired a new position in Invacare during the fourth quarter valued at approximately $245,000. Finally, Renaissance Technologies LLC lifted its position in Invacare by 15.2% during the fourth quarter. Renaissance Technologies LLC now owns 309,100 shares of the health services provider’s stock valued at $5,208,000 after buying an additional 40,700 shares in the last quarter.

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About Invacare

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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