Invacare Corp (IVC) Receives a Buy from Needham

By Jason Carr

In a report released today, Michael Matson from Needham reiterated a Buy rating on Invacare Corp (IVCResearch Report), with a price target of $15. The company’s shares closed yesterday at $5.32, close to its 52-week low of $3.05.

Matson commented:

“IVC’s 4Q18 revenue and EPS beat consensus. In 4Q18, IVC’s segment growth improved except for NA/HME, which slowed. Free cash flow also improved in 4Q18 and IVC achieved positive EBITDA. IVC updated its longer-term EBITDA guidance and now expects to reach a run rate of $85-105M by the end of 2020 (vs. prior guidance of $100M by 3Q20). And while the 4Q18 results were encouraging, we believe more details on IVC’s updated Transformation Plan will be just as important. Given the improvements in 4Q18 and potential for more aggressive restructuring, we reiterate our Buy rating.”

According to, Matson is a top 100 analyst with an average return of 12.9% and a 68.0% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.

Invacare Corp has an analyst consensus of Moderate Buy, with a price target consensus of $15.

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Based on Invacare Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $1.25 million. In comparison, last year the company had a GAAP net loss of $17.66 million.

Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IVC in relation to earlier this year.

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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. It operates through the following segments: Europe, NA/HME, Institutional Products Group, and Asia Pacific.