Needham Keeps a Buy Rating on Invacare Corp (IVC)

By Jason Carr

In a report released today, Michael Matson from Needham maintained a Buy rating on Invacare Corp (IVCResearch Report), with a price target of $15.00. The company’s shares closed last Monday at $6.73.

According to TipRanks.com, Matson is a 4-star analyst with an average return of 4.9% and a 58.7% success rate. Matson covers the Healthcare sector, focusing on stocks such as Axonics Modulation Technologies Inc, Boston Scientific Corp, and Cardiovascular Systems.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Invacare Corp with a $15.00 average price target.

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Based on Invacare Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $12.72 million. In comparison, last year the company had a GAAP net loss of $12.03 million.

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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.