Ankündigung • May 18
Invacare Corporation announced delayed 10-Q filing On 05/16/2024, Invacare Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Ankündigung • Apr 12
Silverback Asset Management Engages with Invacare Corporation On April 11, 2024, Silverback Asset Management LLC announced that it has and continue to engage in discussions with the Invacare Corporation management, Board and other stockholders with respect to the matters previously set forth and may in the future take actions with respect to their investment in the Company with respect thereto, without limiting the foregoing, the Reporting Persons have had discussions with the named Stockholders, and together with the named Stockholders, are in discussions with the Company’s management and the Board to effect the transactions contemplated by the Equity Agreements. Ankündigung • Apr 03
Invacare Corporation announced delayed annual 10-K filing On 04/02/2024, Invacare Corporation announced that they will be unable to file their next 10-K by the deadline required by the SEC. Ankündigung • Nov 17
Invacare Corporation announced delayed 10-Q filing On 11/15/2023, Invacare Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Ankündigung • Sep 09
Invacare Corporation Enters Settlement Agreement with Sunrise Medical (Us) Llc and Sunrise Medical Gmbh On September 2, 2023, Invacare Corporation and its affiliates (collectively, Invacare") entered into a Settlement Agreement (the Settlement Agreement") with Sunrise Medical (US) LLC, Sunrise Medical GmbH and their affiliates (collectively, Sunrise" and together with Invacare, the parties"). The Settlement Agreement is a global resolution of patent litigation brought by Invacare against Sunrise in the United States and Germany concerning the infringement of various Invacare patents, including patents related to certain of Invacare's power wheelchair suspension systems, and the validity of various Sunrise patents, patent litigation brought by Sunrise against Invacare in Germany concerning the validity of various Invacare patents, and related disputes and claims. Pursuant to the terms of the Settlement Agreement: Sunrise will pay to Invacare a lump sum amount of $11.1 million, which Invacare expects will result in net cash to Invacare of approximately $8 million after payment of fees and expenses. Sunrise agreed to no longer sell its SpiderTrac suspension system in the United States, except for a limited number of existing sample or demonstration wheelchair models that may be sold for a period of 60 days after the date of the Settlement Agreement. Ankündigung • Feb 03
NYSE to Suspend Trading Immediately in Invacare Corporation and Commence Delisting Proceedings The New York Stock Exchange LLC announced that the staff of NYSE Regulation has determined to commence proceedings to delist the common shares of Invacare Corporation — ticker symbol IVC — from the NYSE. Trading in the Company’s common shares will be suspended immediately. NYSE Regulation reached its decision that the Company is no longer suitable for listing pursuant to Listed Company Manual Section 802.01D after the Company’s February 1, 2023 disclosure that the Company has filed voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of Texas. In reaching its delisting determination, NYSE Regulation noted the uncertainty as to the ultimate effect of this process on the value of the Company’s common shares. NYSE Regulation also noted that the Company’s restructuring support agreement contemplates that the Company's outstanding common shares will be cancelled and extinguished without any distribution, and holders of the Company's common shares will not receive or retain any distribution or other value on account of their common shares. The Company has a right to a review of this determination by a Committee of the Board of Directors of the Exchange. The NYSE will apply to the Securities and Exchange Commission to delist the Company’s securities upon completion of all applicable procedures, including any appeal by the Company of the NYSE Regulation staff’s decision. Price Target Changed • Nov 16
Price target decreased to US$1.65 Down from US$3.27, the current price target is an average from 2 analysts. New target price is 262% above last closing price of US$0.46. Stock is down 89% over the past year. The company is forecast to post a net loss per share of US$2.76 next year compared to a net loss per share of US$1.31 last year. Reported Earnings • Nov 09
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: US$0.92 loss per share (further deteriorated from US$0.65 loss in 3Q 2021). Revenue: US$170.4m (down 24% from 3Q 2021). Net loss: US$34.4m (loss widened 51% from 3Q 2021). Revenue missed analyst estimates by 14%. Earnings per share (EPS) also missed analyst estimates by 138%. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Medical Equipment industry in the US. Major Estimate Revision • Aug 15
Consensus EPS estimates fall by 77% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$852.0m to US$793.5m. Losses expected to increase from US$1.08 per share to US$1.91. Medical Equipment industry in the US expected to see average net income growth of 11% next year. Consensus price target down from US$4.83 to US$4.27. Share price fell 12% to US$0.97 over the past week. Price Target Changed • Aug 10
Price target decreased to US$4.27 Down from US$4.83, the current price target is an average from 4 analysts. New target price is 334% above last closing price of US$0.98. Stock is down 88% over the past year. The company is forecast to post a net loss per share of US$1.92 next year compared to a net loss per share of US$1.31 last year. Reported Earnings • Aug 10
Second quarter 2022 earnings: EPS and revenues miss analyst expectations Second quarter 2022 results: US$0.62 loss per share (down from US$0.31 loss in 2Q 2021). Revenue: US$189.0m (down 16% from 2Q 2021). Net loss: US$21.9m (loss widened 105% from 2Q 2021). Revenue missed analyst estimates by 9.2%. Earnings per share (EPS) also missed analyst estimates by 48%. Over the next year, revenue is expected to shrink by 2.9% compared to a 6.2% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has fallen by 43% per year, which means it is performing significantly worse than earnings. Major Estimate Revision • May 16
Consensus EPS estimates fall by 43% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$875.2m to US$862.1m. Losses expected to increase from US$0.75 per share to US$1.08. Medical Equipment industry in the US expected to see average net income growth of 16% next year. Consensus price target of US$6.25 unchanged from last update. Share price fell 26% to US$1.02 over the past week. Reported Earnings • May 10
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: US$0.69 loss per share (down from US$0.41 loss in 1Q 2021). Revenue: US$201.0m (up 2.4% from 1Q 2021). Net loss: US$24.2m (loss widened 72% from 1Q 2021). Revenue exceeded analyst estimates by 1.8%. Earnings per share (EPS) missed analyst estimates by 57%. Over the next year, revenue is forecast to stay flat compared to a 9.0% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has fallen by 44% per year, which means it is performing significantly worse than earnings. Price Target Changed • Apr 27
Price target decreased to US$6.25 Down from US$9.50, the current price target is an average from 3 analysts. New target price is 296% above last closing price of US$1.58. Stock is down 82% over the past year. The company is forecast to post a net loss per share of US$0.75 next year compared to a net loss per share of US$1.31 last year. Major Estimate Revision • Mar 16
Consensus EPS estimates fall by 148% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$926.3m to US$875.2m. Losses expected to increase from US$0.30 per share to US$0.75. Medical Equipment industry in the US expected to see average net income growth of 19% next year. Consensus price target down from US$9.50 to US$6.25. Share price fell 33% to US$1.56 over the past week. Price Target Changed • Mar 10
Price target decreased to US$7.00 Down from US$9.67, the current price target is an average from 3 analysts. New target price is 338% above last closing price of US$1.60. Stock is down 84% over the past year. The company is forecast to post a net loss per share of US$0.30 next year compared to a net loss per share of US$1.31 last year. Reported Earnings • Mar 10
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: US$1.31 loss per share (down from US$0.82 loss in FY 2020). Revenue: US$872.5m (up 2.6% from FY 2020). Net loss: US$45.6m (loss widened 61% from FY 2020). Revenue missed analyst estimates by 1.5%. Earnings per share (EPS) also missed analyst estimates by 2.5%. Over the next year, revenue is forecast to grow 6.2%, compared to a 11% growth forecast for the industry in the US. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 46% per year, which means it is significantly lagging earnings. Executive Departure • Dec 06
Senior VP & GM of EMEA Ralf Ledda has left the company On the 1st of December, Ralf Ledda's tenure as Senior VP & GM of EMEA ended after 5.1 years in the role. As of September 2021, Ralf still personally held 61.08k shares (US$291k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 3.42 years. Breakeven Date Change • Nov 25
No longer forecast to breakeven The 4 analysts covering Invacare no longer expect the company to break even during the foreseeable future. The company was expected to make a profit of US$400.0k in 2023. New consensus forecast suggests the company will make a loss of US$650.0k in 2023. Reported Earnings • Oct 30
Third quarter 2021 earnings released: US$0.65 loss per share (vs US$0.21 loss in 3Q 2020) The company reported a soft third quarter result with increased losses and weaker control over costs, although revenues improved. Third quarter 2021 results: Revenue: US$224.2m (up 5.8% from 3Q 2020). Net loss: US$22.8m (loss widened 213% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 29% per year, which means it is significantly lagging earnings. Price Target Changed • Sep 10
Price target decreased to US$11.33 Down from US$15.00, the current price target is an average from 4 analysts. New target price is 107% above last closing price of US$5.48. Stock is down 18% over the past year. Executive Departure • Sep 04
Independent Director Baiju Shah has left the company On the 3rd of September, Baiju Shah's tenure as Independent Director ended after 10.3 years in the role. As of June 2021, Baiju still personally held 27.63k shares (US$223k worth at the time). Baiju is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 3.17 years. Recent Insider Transactions • Aug 12
Independent Director recently sold US$59k worth of stock On the 6th of August, Baiju Shah sold around 7k shares on-market at roughly US$8.50 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Major Estimate Revision • Aug 11
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 revenue forecast increased from US$902.6m to US$912.0m. Forecast EPS reduced from -US$0.51 to -US$0.66 per share. Medical Equipment industry in the US expected to see average net income growth of 19% next year. Consensus price target of US$16.00 unchanged from last update. Share price rose 20% to US$8.36 over the past week. Reported Earnings • Aug 05
Second quarter 2021 earnings released: US$0.31 loss per share (vs US$0.48 loss in 2Q 2020) The company reported a solid second quarter result with reduced losses, improved revenues and improved control over expenses. Second quarter 2021 results: Revenue: US$225.9m (up 15% from 2Q 2020). Net loss: US$10.7m (loss narrowed 36% from 2Q 2020). Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has fallen by 22% per year, which means it is significantly lagging earnings. Major Estimate Revision • May 12
Consensus EPS estimates fall to -US$0.56 The consensus outlook for earnings per share (EPS) in 2021 has deteriorated. 2021 revenue forecast decreased from US$915.2m to US$902.6m. Losses expected to increase from -US$0.45 to -US$0.56. Medical Equipment industry in the US expected to see average net income growth of 28% next year. Consensus price target of US$16.00 unchanged from last update. Share price fell 4.5% to US$8.50 over the past week. Reported Earnings • May 06
First quarter 2021 earnings released: US$0.41 loss per share (vs US$0.022 profit in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: US$196.2m (down 10% from 1Q 2020). Net loss: US$14.0m (down US$14.8m from profit in 1Q 2020). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 23% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 05
Full year 2020 earnings released: US$0.82 loss per share (vs US$1.59 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: US$850.7m (down 8.3% from FY 2019). Net loss: US$28.3m (loss narrowed 47% from FY 2019). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Mar 05
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) missed analyst estimates by 11%. Over the next year, revenue is forecast to grow 7.0%, compared to a 21% growth forecast for the Medical Equipment industry in the US. Major Estimate Revision • Feb 17
Analysts update estimates The 2021 consensus revenue estimate increased from US$892.7m to US$910.2m. The company's losses in 2021 are expected to worsen with analysts lowering their EPS forecasts from -US$0.27 to -US$0.32. The Medical Equipment industry in the US is expected to see an average net income growth of 25% next year. The consensus price target of US$16.00 was unchanged from the last update. Share price is down by 15% to US$8.95 over the past week. Reported Earnings • Feb 12
Full year 2020 earnings released: US$0.82 loss per share (vs US$1.59 loss in FY 2019) The company reported a decent full year result with reduced losses and improved control over expenses, although revenues were weaker. Full year 2020 results: Revenue: US$850.7m (down 8.3% from FY 2019). Net loss: US$28.3m (loss narrowed 47% from FY 2019). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Analyst Estimate Surprise Post Earnings • Feb 12
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) missed analyst estimates by 11%. Over the next year, revenue is forecast to grow 4.9%, compared to a 21% growth forecast for the Medical Equipment industry in the US. Is New 90 Day High Low • Feb 09
New 90-day high: US$10.51 The company is up 31% from its price of US$8.04 on 10 November 2020. The American market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 8.0% over the same period. Is New 90 Day High Low • Jan 07
New 90-day high: US$9.68 The company is up 18% from its price of US$8.23 on 08 October 2020. The American market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 8.0% over the same period. Is New 90 Day High Low • Dec 07
New 90-day high: US$9.32 The company is up 39% from its price of US$6.71 on 08 September 2020. The American market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 9.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Is New 90 Day High Low • Nov 17
New 90-day high: US$8.56 The company is up 13% from its price of US$7.60 on 18 August 2020. The American market is up 7.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Medical Equipment industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Analyst Estimate Surprise Post Earnings • Oct 31
Third-quarter earnings released: Revenue and earnings beat expectations Third-quarter revenue exceeded analyst estimates by 4.7% at US$211.9m. Earnings per share (EPS) also surpassed analyst estimates by 21% at -US$0.21. Revenue is forecast to stay flat over the next year, compared to a 15% growth forecast for the Medical Equipment industry in the US. Reported Earnings • Oct 31
Third quarter earnings released Over the last 12 months the company has reported total losses of US$41.8m, with losses widening by 16% from the prior year. Total revenue was US$859.6m over the last 12 months, down 8.5% from the prior year.