Zacks: Analysts Expect Invacare Co. (NYSE:IVC) Will Post Quarterly Sales of $222.27 Million

Equities research analysts expect that Invacare Co. (NYSE:IVC) will post $222.27 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Invacare’s earnings, with the highest sales estimate coming in at $223.44 million and the lowest estimate coming in at $221.10 million. Invacare posted sales of $211.91 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.9%. The company is expected to announce its next earnings results on Thursday, November 4th.

According to Zacks, analysts expect that Invacare will report full year sales of $888.52 million for the current financial year, with estimates ranging from $881.70 million to $895.34 million. For the next year, analysts expect that the business will report sales of $926.93 million, with estimates ranging from $911.60 million to $942.25 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Invacare.

Invacare (NYSE:IVC) last posted its quarterly earnings data on Wednesday, August 4th. The health services provider reported ($0.28) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.23) by ($0.05). Invacare had a negative return on equity of 9.52% and a negative net margin of 4.33%. The business had revenue of $225.86 million during the quarter, compared to analysts’ expectations of $216.00 million. During the same period in the prior year, the firm posted ($0.21) EPS.

Several research firms have weighed in on IVC. Oppenheimer began coverage on Invacare in a research report on Thursday, August 19th. They issued an “outperform” rating and a $11.00 price objective on the stock. Zacks Investment Research cut Invacare from a “hold” rating to a “strong sell” rating in a research report on Wednesday, August 11th. Finally, Needham & Company LLC dropped their price target on Invacare from $17.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday, September 10th.

IVC stock traded up $0.11 during midday trading on Wednesday, hitting $4.83. The company’s stock had a trading volume of 717,169 shares, compared to its average volume of 479,429. The stock’s 50-day moving average price is $6.73 and its 200 day moving average price is $7.64. The company has a quick ratio of 0.98, a current ratio of 1.57 and a debt-to-equity ratio of 1.31. Invacare has a 1 year low of $4.08 and a 1 year high of $10.94. The stock has a market cap of $169.09 million, a price-to-earnings ratio of -4.47 and a beta of 0.87.

In related news, Director Baiju R. Shah sold 6,948 shares of the stock in a transaction dated Friday, August 6th. The stock was sold at an average price of $8.50, for a total transaction of $59,058.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 6.20% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Rutabaga Capital Management LLC MA lifted its holdings in Invacare by 2,601.7% during the 2nd quarter. Rutabaga Capital Management LLC MA now owns 892,693 shares of the health services provider’s stock worth $7,204,000 after purchasing an additional 859,651 shares in the last quarter. Nuveen Asset Management LLC increased its stake in Invacare by 3.4% in the 1st quarter. Nuveen Asset Management LLC now owns 165,050 shares of the health services provider’s stock worth $1,324,000 after acquiring an additional 5,408 shares during the last quarter. XTX Topco Ltd increased its stake in Invacare by 41.2% in the 2nd quarter. XTX Topco Ltd now owns 18,695 shares of the health services provider’s stock worth $151,000 after acquiring an additional 5,458 shares during the last quarter. Barclays PLC increased its stake in Invacare by 12.3% in the 1st quarter. Barclays PLC now owns 42,652 shares of the health services provider’s stock worth $342,000 after acquiring an additional 4,681 shares during the last quarter. Finally, Krensavage Asset Management LLC increased its stake in Invacare by 0.4% in the 1st quarter. Krensavage Asset Management LLC now owns 908,236 shares of the health services provider’s stock worth $7,284,000 after acquiring an additional 3,689 shares during the last quarter.

Invacare Company Profile

Invacare Corp. engages in the manufacture and distribution of medical equipment used in non-acute care settings. It focuses on medical device solutions for congenital, acquired, and degenerative ailments. The firm operates through the following segments: North America and Europe. The company was founded by Aaron Malachi Mixon III in 1979 and is headquartered in Elyria, OH.

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Earnings History and Estimates for Invacare (NYSE:IVC)

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