Invacare Corporation, together with its subsidiaries, designs, manufactures, distributes, and exports medical equipment for use in home health care, retail, and extended care markets worldwide. The company offers mobility and seating products, such as power wheelchairs under the Invacare TDX brand; custom manual wheelchairs under the Invacare, Invacare Top End, and Küschall brand names; and seating and positioning products under the Invacare brand, as well as custom molded seat modules under the PinDot brand. It also provides lifestyle products, including pressure relieving overlays and mattress systems under the Invacare Softform and microAIR brands; safe patient handling products under the Birdie, Evo, and ISA brands; residential and institutional care beds and bed accessories, and manual wheelchairs under the Invacare brand name; and personal care products. In addition, the company offers respiratory therapy products comprising stationary oxygen concentrators under the Platinum and Perfecto2 brands; portable oxygen concentrators under the Platinum brand; and Invacare HomeFill oxygen systems. Further, it provides repair, equipment rentals, and external contracting services, as well as distributes heart rate monitors, thermometers, and nebulizers; and portable ramps. The company sells its products primarily to home medical equipment providers through retail and e-commerce channels, as well as to residential care operators, dealers, and government health service customers through its sales force, independent manufacturers' representatives, and distributors. Invacare Corporation was founded in 1885 and is headquartered in Elyria, Ohio.
IPO Year:
Exchange: NYSE
Website: invacare.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/29/2021 | $11.00 → $9.00 | Outperform | Oppenheimer |
| 9/10/2021 | $17.00 → $8.00 | Buy | Needham |
| 8/19/2021 | $11.00 | Outperform | Oppenheimer |
Oppenheimer reiterated coverage of Invacare with a rating of Outperform and set a new price target of $9.00 from $11.00 previously
Needham reiterated coverage of Invacare with a rating of Buy and set a new price target of $8.00 from $17.00 previously
Oppenheimer initiated coverage of Invacare with a rating of Outperform and set a new price target of $11.00
NorthStar Medical Technologies, LLC, parent company of NorthStar Medical Radioisotopes, LLC, a global innovator in development, production and commercialization of radiopharmaceuticals used to detect and treat cancer and other serious diseases, today announced the appointment of Barbara W. Bodem and David Keeling to its Board of Managers, effective February 12, 2024. Following these appointments, the Board will comprise of 8 directors, 5 of whom are non-executive. "We are pleased to welcome Barbara and David to the NorthStar Board," said Stephen Merrick, Executive Chairman of NorthStar. "Barbara's deep experience serving in senior finance and board roles in leading edge pharmaceutical and
Invacare Corporation (NYSE:IVC) announced today that its Board of Directors has named Geoffrey P. Purtill as President and Chief Executive Officer, roles that he has served on an interim basis since August 28, 2022. Non-executive Chairman of the Board of Directors Michael J. Merriman, Jr, said, "On behalf of the Board, we are excited to elevate Geoff Purtill into the role of President and CEO. The Board determined that Geoff is the right steward of the company as it undergoes significant transformation and embarks on a new chapter. Geoff has proven adept at guiding our global businesses through change, both in his previous role overseeing the EMEA and APAC businesses, and now in his curren
Appoints Geoff Purtill as Interim Chief Executive Officer and Michael Merriman as Board Chairman Invacare Corporation (NYSE:IVC) today announced changes to its senior management team and Board of Directors to advance its previously announced business transformation initiatives, address supply chain challenges, and strengthen its financial performance. Geoffrey P. Purtill, who had been serving as the company's Senior Vice President and General Manager, EMEA and APAC, was named interim President and Chief Executive Officer, replacing Matthew E. Monaghan, who has left from his role as Chairman, President and Chief Executive Officer, effective August 28, 2022. The Board of Directors has comme
Invacare Corporation (NYSE:IVC) today announced the appointment of Aron I. Schwartz, age 51, to its Board of Directors, effective March 21, 2022. Mr. Schwartz currently serves as Managing Partner of ACON Investments, a private equity firm based in Washington, D.C. Mr. Schwartz has a wide range of financial experience in managing and overseeing companies across multiple industries, including companies undergoing strategic transformation. Mr. Schwartz was unanimously appointed by the current members of the Board and will serve on the company's Audit Committee and its Nominating and Governance Committee. His appointment brings the number of Invacare directors to a total of nine, eight of whom
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Invacare Corporation (NYSE:IVC) entered into a “Restructuring Support Agreement” (RSA) with substantially all its debt holders. It includes its term loan lender, all holders of convertible senior secured notes, and holders of most convertible senior unsecured notes. The RSA transactions include a reduction of Invacare’s funded debt by approximately $240 million. It also includes a backstop for a rights offering to holders of claims, providing Invacare with $60 million in equity capital, allowing the company to repay certain debt obligations and facilitate its transformation plan. Additionally, to effectuate these transactions, Invacare and two U.S.-based subsidiaries commenced volunt
Gainers Bright Green (NASDAQ:BGXX) shares increased by 251.2% to $1.83 during Wednesday's regular session. The current volume of 81.8 million shares is 25935.4% of Bright Green's average full-day volume over the last 100 days (last updated at 12:30 EST). The company's market cap stands at $310.7 million. Erytech Pharma (NASDAQ:ERYP) stock increased by 47.76% to $1.33. Trading volume for Erytech Pharma's stock is 281.1K as of 12:30 EST. This is 628.2% of its average full-day volume over the last 100 days. The market value of their outstanding shares is at $41.2 million. Quoin Pharmaceuticals (NASDAQ:QNRX) stock moved upwards by 32.93% to $2.22. Quoin Pharmaceuticals's stock is trading at a
Strong Sequential Improvement Achieved in Preliminary 4Q22 Financial Results In the fourth quarter of 2022, the company continued to experience strong demand for its lifestyle and mobility & seating products and elevated open orders compared to the end of 2021. As guided in its 3Q22 earnings release, the company anticipated sequential improvement in its key financial metrics. Based on preliminary unaudited 4Q22 results, the company anticipates reporting the following results for 4Q22 as compared to 3Q22: Reported net sales growth of 6% to $181 million as compared to $170 million, with growth in all regions and in all major product categories; Gross margins, excluding the respiratory cha
Refinancing action will reduce net debt by approximately 65% Global manufacturing and delivery of products to continue uninterrupted to meet robust customer demand Strong sequential improvement achieved in preliminary 4Q22 financial results Executed strategic actions accelerating a renewed focus on core businesses Invacare Corporation (NYSE:IVC) ("Invacare" or "the company"), a leading manufacturer and distributor of medical equipment used in non-acute care settings, today announced actions to strengthen the company and position it for long-term success. To facilitate its financial restructuring, the company has entered into a Restructuring Support Agreement (the "RSA" or "Agreement") w
Gainers Quoin Pharmaceuticals (NASDAQ:QNRX) stock rose 76.6% to $2.95 during Wednesday's pre-market session. The company's market cap stands at $14.2 million. TransCode Therapeutics (NASDAQ:RNAZ) stock rose 50.5% to $1.13. The market value of their outstanding shares is at $14.6 million. Chembio Diagnostics (NASDAQ:CEMI) stock increased by 22.22% to $0.44. The market value of their outstanding shares is at $16.1 million. Erytech Pharma (NASDAQ:ERYP) stock increased by 19.98% to $1.08. The market value of their outstanding shares is at $33.4 million. Genetic Technologies (NASDAQ:GENE) shares rose 16.48% to $1.06. The company's market cap stands at $16.3 million. F-star Therapeutics (NAS
Gainers Invacare (NYSE:IVC) stock rose 14.3% to $0.48 during Friday's after-market session. The market value of their outstanding shares is at $18.1 million. Benitec Biopharma (NASDAQ:BNTC) stock increased by 11.7% to $0.19. The market value of their outstanding shares is at $5.3 million. AlerisLife (NASDAQ:ALR) stock moved upwards by 9.09% to $0.6. The company's market cap stands at $19.5 million. Renalytix (NASDAQ:RNLX) shares rose 8.55% to $2.03. The company's market cap stands at $76.0 million. electroCore (NASDAQ:ECOR) shares increased by 8.52% to $0.28. The market value of their outstanding shares is at $19.8 million. Statera BioPharma (NASDAQ:STAB) stock increased by 8.37% to $0
Gainers Invacare (NYSE:IVC) stock rose 14.3% to $0.48 during Friday's after-market session. The market value of their outstanding shares is at $18.1 million. Benitec Biopharma (NASDAQ:BNTC) stock increased by 11.7% to $0.19. The market value of their outstanding shares is at $5.3 million. AlerisLife (NASDAQ:ALR) stock moved upwards by 9.09% to $0.6. The company's market cap stands at $19.5 million. Renalytix (NASDAQ:RNLX) shares rose 8.55% to $2.03. The company's market cap stands at $76.0 million. electroCore (NASDAQ:ECOR) shares increased by 8.52% to $0.28. The market value of their outstanding shares is at $19.8 million. Statera BioPharma (NASDAQ:STAB) stock increased by 8.37% to $0
Gainers 180 Life Sciences (NASDAQ:ATNF) stock rose 75.8% to $2.18 during Tuesday's pre-market session. The company's market cap stands at $4.4 million. HTG Molecular Diagnostics (NASDAQ:HTGM) stock moved upwards by 51.93% to $4.71. The market value of their outstanding shares is at $4.8 million. Invacare (NYSE:IVC) shares rose 42.82% to $0.59. The market value of their outstanding shares is at $22.2 million. Nexalin Technology (NASDAQ:NXL) shares moved upwards by 22.91% to $0.96. The market value of their outstanding shares is at $6.9 million. Innate Pharma (NASDAQ:IPHA) stock rose 14.23% to $3.21. The market value of their outstanding shares is at $257.4 million. KalVista Pharma (NASD
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NorthStar Medical Technologies, LLC, parent company of NorthStar Medical Radioisotopes, LLC, a global innovator in development, production and commercialization of radiopharmaceuticals used to detect and treat cancer and other serious diseases, today announced the appointment of Barbara W. Bodem and David Keeling to its Board of Managers, effective February 12, 2024. Following these appointments, the Board will comprise of 8 directors, 5 of whom are non-executive. "We are pleased to welcome Barbara and David to the NorthStar Board," said Stephen Merrick, Executive Chairman of NorthStar. "Barbara's deep experience serving in senior finance and board roles in leading edge pharmaceutical and
Refinancing action will reduce net debt by approximately 65% Global manufacturing and delivery of products to continue uninterrupted to meet robust customer demand Strong sequential improvement achieved in preliminary 4Q22 financial results Executed strategic actions accelerating a renewed focus on core businesses Invacare Corporation (NYSE:IVC) ("Invacare" or "the company"), a leading manufacturer and distributor of medical equipment used in non-acute care settings, today announced actions to strengthen the company and position it for long-term success. To facilitate its financial restructuring, the company has entered into a Restructuring Support Agreement (the "RSA" or "Agreement")
Invacare Corporation (NYSE:IVC) ("Invacare" or the "company") announced the consummation of an additional draw of $5,500,000 of term loans under to its Credit Agreement with certain funds managed by Highbridge Capital Management LLC ("Highbridge"), as of December 23, 2022. Commenting on the financing, Geoff Purtill, president and chief executive officer stated, "As guided in the 3Q22 earnings release, Europe achieved sequential growth in revenues and profitability driven by improved supply chain circumstances giving us confidence that our transformation program is reaping benefits. Today's announcement provides us with greater flexibility as we execute against our stated strategy. We are p
Invacare Corporation (NYSE:IVC) announced today that its Board of Directors has named Geoffrey P. Purtill as President and Chief Executive Officer, roles that he has served on an interim basis since August 28, 2022. Non-executive Chairman of the Board of Directors Michael J. Merriman, Jr, said, "On behalf of the Board, we are excited to elevate Geoff Purtill into the role of President and CEO. The Board determined that Geoff is the right steward of the company as it undergoes significant transformation and embarks on a new chapter. Geoff has proven adept at guiding our global businesses through change, both in his previous role overseeing the EMEA and APAC businesses, and now in his curren
Updates strategic priorities with the discontinuation of the production of respiratory products Anticipates sequential improvement in revenues and profitability in 4Q22 Invacare Corporation (NYSE:IVC) ("Invacare" or the "company") today reported results for the quarter ended September 30, 2022. Executive Summary Reflecting on the quarter and the company's progress against its transformation program, Geoffrey Purtill, interim president and chief executive officer, said "We remain committed to taking necessary and decisive action to increase shareholder value. After carefully evaluating our strategic options, we have determined that the lifestyle and mobility & seating categories are core
Invacare Corporation (NYSE:IVC) ("Invacare" or the "company") announces that it will release its financial results for the third quarter ended September 30, 2022, after the market closes on Monday, November 7, 2022. The company will provide a live conference call and webcast to discuss these financial results on Tuesday, November 8, 2022, at 8:30 AM ET. Investors and other interested parties may access the webcast and conference call in the following ways: Those wishing to participate via webcast can register and access the event at https://events.q4inc.com/attendee/918973030 Those wishing to participate via telephone can dial 844-200-6205 (U.S. and Canada) or 929-526-1599 (internation
Invacare Corporation (NYSE:IVC) ("Invacare" or the "company") announced today the consummation of additional draws of an aggregate of $18,500,000 of term loans pursuant to its Credit Agreement with certain funds managed by Highbridge Capital Management LLC ("Highbridge"). Additional commitments of $19,500,000 remain available under the Amended Highbridge Loan Agreement, subject to the satisfaction of certain conditions set forth therein. Concurrently with the additional draws, the company consummated the additional closings under the exchange agreements previously entered into with Highbridge and exchanged $13,825,000 in aggregate principal amount of 4.25% Convertible Senior Notes due 2026
Intends to Cure Deficiency and Return to Compliance with NYSE Listing Standard Invacare Corporation (NYSE:IVC) today announced that it received notice from the New York Stock Exchange (the "NYSE") that the company is not in compliance with Section 802.01C of the NYSE Listed Company Manual because the average closing price of the company's Common Shares was less than $1.00 per share over a consecutive 30 trading-day period. The notice does not result in the immediate delisting of the company's Common Shares from the NYSE. The company plans to notify the NYSE by October 7, 2022 that the company intends to cure the stock price deficiency and to return to compliance with the NYSE continued li
Appoints Geoff Purtill as Interim Chief Executive Officer and Michael Merriman as Board Chairman Invacare Corporation (NYSE:IVC) today announced changes to its senior management team and Board of Directors to advance its previously announced business transformation initiatives, address supply chain challenges, and strengthen its financial performance. Geoffrey P. Purtill, who had been serving as the company's Senior Vice President and General Manager, EMEA and APAC, was named interim President and Chief Executive Officer, replacing Matthew E. Monaghan, who has left from his role as Chairman, President and Chief Executive Officer, effective August 28, 2022. The Board of Directors has comme
Adds two independent directors with business transformation expertise Invacare Corporation (NYSE:IVC) today announced that it has entered into a cooperation agreement with its largest shareholder, Azurite Management LLC ("Azurite"), which currently owns approximately 10.3% of the company's outstanding shares as of June 30, 2022. As part of the agreement, Invacare appointed two new independent directors, Steven H. Rosen and Ambassador Edward F. Crawford, effective immediately. Mr. Rosen will serve on the company's Audit and Compensation and Management Development Committees, and Ambassador Crawford will serve on the company's Nominating and Governance Committee. "Following constructive dia
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Updates strategic priorities with the discontinuation of the production of respiratory products Anticipates sequential improvement in revenues and profitability in 4Q22 Invacare Corporation (NYSE:IVC) ("Invacare" or the "company") today reported results for the quarter ended September 30, 2022. Executive Summary Reflecting on the quarter and the company's progress against its transformation program, Geoffrey Purtill, interim president and chief executive officer, said "We remain committed to taking necessary and decisive action to increase shareholder value. After carefully evaluating our strategic options, we have determined that the lifestyle and mobility & seating categories are core
Invacare Corporation (NYSE:IVC) ("Invacare" or the "company") announces that it will release its financial results for the third quarter ended September 30, 2022, after the market closes on Monday, November 7, 2022. The company will provide a live conference call and webcast to discuss these financial results on Tuesday, November 8, 2022, at 8:30 AM ET. Investors and other interested parties may access the webcast and conference call in the following ways: Those wishing to participate via webcast can register and access the event at https://events.q4inc.com/attendee/918973030 Those wishing to participate via telephone can dial 844-200-6205 (U.S. and Canada) or 929-526-1599 (internation
Achieved sequential improvement in profitability and free cash flow Invacare Corporation (NYSE:IVC) ("Invacare" or the "company") today reported results for the quarter ended June 30, 2022. Executive Summary Reflecting on the quarter, Matt Monaghan, chairman, president, and chief executive officer, said "In 2Q22, we achieved sequential revenue growth of 4.7% in mobility & seating products driven by increased adoption of our compelling product portfolio. We continue to experience elevated backlog across all product categories and regions, and see strong demand in mobility & seating and lifestyle products. We are working diligently to increase output and convert order backlog into sales.
Invacare Corporation (NYSE:IVC) ("Invacare" or the "company") announces that it will release its financial results for the second quarter ended June 30, 2022, after the market closes on Monday, August 8, 2022. The company will provide a live conference call and webcast to discuss these financial results on Tuesday, August 9, 2022, at 8:30 AM ET. Investors and other interested parties may access the webcast and conference call in the following ways: Those wishing to participate via webcast can register and access the event at https://event.on24.com/wcc/r/3824622/92E8BCD6867EC596FFDEE810519F56D2 Those wishing to participate via telephone can dial 844-200-6205 (U.S. and Canada) or 929-526
Delivered sales growth driven by mobility & seating and lifestyle products Reaffirmed full year 2022 financial guidance Invacare Corporation (NYSE:IVC) ("Invacare" or the "company") today reported results for the quarter ended March 31, 2022. Executive Summary Reflecting on the quarter, Matt Monaghan, chairman, president, and chief executive officer, said "In 1Q22, we delivered 2.4% reported net sales and 6.4% constant currency net sales growth driven by sales of mobility & seating products which achieved double-digit growth. We are pleased that strong demand continued across our entire portfolio of products. As we work to increase our capability to fulfill strong demand, we continue to
Invacare Corporation (NYSE:IVC) ("Invacare" or the "company") announces that it will release its financial results for the first quarter ended March 31, 2022, after the market closes on Monday, May 9, 2022. The company will provide a live conference call and webcast to discuss these financial results on Tuesday, May 10, 2022, at 8:30 AM ET. Investors and other interested parties may access the webcast and conference call in the following ways: Those wishing to participate via webcast can register and access the event at https://event.on24.com/wcc/r/3726050/5086CD0F43EE13E22A1B83D66E85F0B4. Those wishing to participate via telephone can dial 844-200-6205 (U.S. and Canada) or 929-526-159
Reported and constant currency net sales growth in 4Q21 driven by mobility & seating products Sequential improvement in key profitability metrics Expects profitability improvements in full year 2022 Invacare Corporation (NYSE:IVC) ("Invacare" or the "company") today announced its financial results for the fourth quarter and year ended December 31, 2021. Executive Summary Reflecting on 2021 results, Matt Monaghan, chairman, president and chief executive officer, commented, "We ended the year sustaining strong new order intake and growing customer interest in our leading portfolio of products. We continue to manage this demand and to take actions to mitigate against higher input costs and
Invacare Corporation (NYSE:IVC) ("Invacare" or the "company") announces that it will release its financial results for the fourth quarter and year ended December 31, 2021, after the market closes on Tuesday, March 8, 2022. The company will provide a live conference call and webcast to discuss these financial results on Wednesday, March 9, 2022 at 8:30 AM ET. Investors and other interested parties may access the webcast and conference call in the following ways: Those wishing to participate via webcast can register and access the event at https://event.on24.com/wcc/r/3574337/835FCA6656EA74DB499A539BE41A1193 Those wishing to participate via telephone can dial 844-200-6205 (U.S. and Canad
Net sales increase driven by growth in all major product categories Full year 2021 financial guidance reaffirmed Invacare Corporation (NYSE:IVC) ("Invacare" or the "company") today reported results for the quarter ended September 30, 2021. Key Metrics (3Q21* versus 3Q20) Reported net sales increased 5.8% to $224.2 million, and constant currency net sales(a) increased 2.9%. Growth in constant currency net sales was driven by a 17.1% increase in lifestyle products in Europe and 7.1% growth in mobility & seating products in North America. Gross profit as a percent of net sales was 26.9%, a decrease of 140 basis points and flat compared to 2Q21, with the decline attributable to supp
Invacare Corporation (NYSE:IVC) ("Invacare" or the "company") announces that it will release its financial results for the third quarter 2021 after the market closes on Wednesday, October 27, 2021. The company will provide a live conference call and webcast to discuss these financial results on Thursday, October 28, 2021 at 8:30 AM ET. Investors and other interested parties may access the webcast and conference call in the following ways: Those wishing to participate via webcast can register and access the event at https://event.on24.com/wcc/r/3468679/1BC2F8470F8F3DB1E4F728EF80FCE6C1 Those wishing to participate via telephone can dial 844-200-6205 (U.S. and Canada) or 929-526-1599 (int