Invacare Co. (NYSE:IVC) Forecasted to Earn Q1 2024 Earnings of ($0.39) Per Share

Invacare Co. (NYSE:IVCGet Rating) – Analysts at Oppenheimer issued their Q1 2024 EPS estimates for shares of Invacare in a research note issued to investors on Thursday, January 19th. Oppenheimer analyst M. Nirenberg anticipates that the health services provider will post earnings per share of ($0.39) for the quarter. The consensus estimate for Invacare’s current full-year earnings is ($2.76) per share. Oppenheimer also issued estimates for Invacare’s Q2 2024 earnings at ($0.34) EPS, Q3 2024 earnings at ($0.33) EPS, Q4 2024 earnings at ($0.28) EPS and FY2025 earnings at ($1.12) EPS.

Separately, StockNews.com started coverage on shares of Invacare in a research report on Thursday, January 12th. They set a “hold” rating for the company.

Invacare Trading Up 1.7 %

NYSE IVC opened at $0.62 on Friday. The company’s 50-day moving average price is $0.45 and its 200-day moving average price is $0.76. The company has a current ratio of 1.32, a quick ratio of 0.78 and a debt-to-equity ratio of 4.82. The stock has a market cap of $23.43 million, a PE ratio of -0.28 and a beta of 0.22. Invacare has a 12 month low of $0.33 and a 12 month high of $2.69.

Invacare (NYSE:IVCGet Rating) last released its earnings results on Monday, November 7th. The health services provider reported ($0.54) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.17). The company had revenue of $170.41 million during the quarter, compared to analysts’ expectations of $197.98 million. Invacare had a negative return on equity of 37.76% and a negative net margin of 9.99%.

Insider Activity at Invacare

In related news, insider Steven H. Rosen sold 102,820 shares of the business’s stock in a transaction dated Friday, November 18th. The shares were sold at an average price of $0.38, for a total value of $39,071.60. Following the sale, the insider now directly owns 3,665,233 shares in the company, valued at approximately $1,392,788.54. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, major shareholder Steven H. Rosen sold 60,480 shares of Invacare stock in a transaction on Monday, November 14th. The shares were sold at an average price of $0.50, for a total value of $30,240.00. Following the transaction, the insider now directly owns 3,886,078 shares of the company’s stock, valued at approximately $1,943,039. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Steven H. Rosen sold 102,820 shares of Invacare stock in a transaction on Friday, November 18th. The shares were sold at an average price of $0.38, for a total transaction of $39,071.60. Following the completion of the transaction, the insider now owns 3,665,233 shares in the company, valued at $1,392,788.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 183,300 shares of company stock valued at $79,112. 6.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Invacare by 6.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,687,184 shares of the health services provider’s stock valued at $1,317,000 after purchasing an additional 99,093 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Invacare by 40.4% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 90,300 shares of the health services provider’s stock worth $71,000 after acquiring an additional 26,000 shares during the period. First Manhattan Co. boosted its holdings in Invacare by 315.7% in the 3rd quarter. First Manhattan Co. now owns 1,850,000 shares of the health services provider’s stock worth $1,443,000 after acquiring an additional 1,405,000 shares during the period. AQR Capital Management LLC boosted its holdings in Invacare by 43.4% in the 2nd quarter. AQR Capital Management LLC now owns 573,903 shares of the health services provider’s stock worth $735,000 after acquiring an additional 173,592 shares during the period. Finally, Millennium Management LLC raised its position in shares of Invacare by 30.6% in the 2nd quarter. Millennium Management LLC now owns 441,937 shares of the health services provider’s stock valued at $566,000 after purchasing an additional 103,627 shares in the last quarter. Institutional investors and hedge funds own 59.87% of the company’s stock.

About Invacare

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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.

Further Reading

Earnings History and Estimates for Invacare (NYSE:IVC)

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