Loading...
Docoh

Invacare (IVC)

Invacare Corporation is a leading manufacturer and distributor in its markets for medical equipment used in non-acute care settings. At its core, the Company designs, manufactures, and distributes medical devices that help people to move, breathe, rest and perform essential hygiene. The Company provides clinically complex medical device solutions for congenital (e.g., cerebral palsy, muscular dystrophy, spina bifida), acquired (e.g., stroke, spinal cord injury, traumatic brain injury, post-acute recovery, pressure ulcers) and degenerative (e.g., ALS, multiple sclerosis, chronic obstructive pulmonary disease (COPD), elderly, bariatric) ailments. The Company's products are important parts of care for people with a wide range of challenges, from those who are active and involved in work or school each day and may need additional mobility or respiratory support, to those who are cared for in residential care settings, at home and in rehabilitation centers. The Company sells its products principally to home medical equipment providers with retail and e-commerce channels, residential care operators, distributors and government health services in North America, Europe and Asia Pacific.

Company profile

Ticker
IVC
Exchange
CEO
Matthew Monaghan
Employees
Incorporated
Location
Fiscal year end
SEC CIK
Subsidiaries
Adaptive Switch Laboratories, Inc. • Alber GmbH • Alber USA, LLC • Invacare Logistics GmbH • Carroll Healthcare General Partner Inc. • Carroll Healthcare Inc. • Freedom Designs, Inc. • Invacare AB • Invacare AG • Invacare A/S ...
IRS number
952680965

IVC stock data

Analyst ratings and price targets

Last 3 months

Calendar

8 Aug 22
12 Aug 22
31 Dec 22
Quarter (USD) Jun 22 Mar 22 Dec 21 Sep 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 21 Dec 20 Dec 19 Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 43.91M 43.91M 43.91M 43.91M 43.91M 43.91M
Cash burn (monthly) 2.81M 2.86M 7.01M 4.91M (no burn) 433.42K
Cash used (since last report) 4.08M 4.16M 10.18M 7.13M n/a 629.84K
Cash remaining 39.83M 39.75M 33.73M 36.78M n/a 43.28M
Runway (months of cash) 14.2 13.9 4.8 7.5 n/a 99.9

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
27 Jun 22 Rosen Steven H Common Shares, no par value Buy Acquire P Yes No 1.51 50,000 75.5K 3,946,558
21 Jun 22 Rosen Steven H Common Shares, no par value Buy Acquire P Yes No 1.44 100,000 144K 3,896,558
6 Jun 22 Rosen Steven H Common Shares, no par value Buy Acquire P Yes No 1.265 100,000 126.5K 3,796,558
3 Jun 22 Rosen Steven H Common Shares, no par value Buy Acquire P Yes No 1.081 241,720 261.3K 3,696,558
71.2% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 111 123 -9.8%
Opened positions 13 25 -48.0%
Closed positions 25 43 -41.9%
Increased positions 30 36 -16.7%
Reduced positions 50 46 +8.7%
13F shares Current Prev Q Change
Total value 40.4M 231.53M -82.6%
Total shares 27.27M 31.5M -13.4%
Total puts 45.3K 75.9K -40.3%
Total calls 16.4K 18.6K -11.8%
Total put/call ratio 2.8 4.1 -32.3%
Largest owners Shares Value Change
BLK Blackrock 2.29M $3.23M -1.7%
Renaissance Technologies 1.92M $2.7M +4.1%
Rutabaga Capital Management 1.83M $2.58M +60.5%
Vanguard 1.73M $2.44M -0.1%
Integrated Core Strategies 1.4M $3.81M 0.0%
D. E. Shaw & Co. 1.39M $1.97M -13.2%
Dimensional Fund Advisors 1.37M $1.93M -16.2%
Barrow Hanley Mewhinney & Strauss 1.21M $1.71M -2.8%
North Run Capital L P 924.5K $1.3M -17.6%
Acadian Asset Management 921.59K $1.3M +102.2%
Largest transactions Shares Bought/sold Change
Millennium Management 338.31K -1.06M -75.8%
Jacobs Levy Equity Management 0 -809.14K EXIT
Rutabaga Capital Management 1.83M +689.32K +60.5%
Punch & Associates Investment Management 0 -655.73K EXIT
Royce & Associates 0 -590.92K EXIT
NMR Nomura 798.86K -562.23K -41.3%
Acadian Asset Management 921.59K +465.71K +102.2%
MS Morgan Stanley 807.43K -358.16K -30.7%
Russell Investments 0 -315.4K EXIT
STT State Street 626.56K -304.86K -32.7%

Financial report summary

?
Risks
  • Restrictive covenants under the company’s new credit agreements and the indentures related to the company’s secured convertible notes may limit the manner in which the company operates.
  • Servicing the company’s debt requires a significant amount of cash, and the company may not have sufficient cash flow from its business to pay its substantial debt.
  • Despite the company’s current debt levels, subject to certain conditions and limitations, it may still incur substantially more debt or take other actions which would intensify the risks discussed above.
Management Discussion
  • The company operates in two primary business segments: North America and Europe with each selling the company's primary product categories, which include: lifestyle, mobility and seating and respiratory therapy products. Sales in Asia Pacific are reported in All Other and include products similar to those sold in North America and Europe.
  • * Date format is quarter and year in each instance.
  • ** YTD means the first six months of the year in each instance.

Content analysis

?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
H.S. senior Bad
New words: ahead, altered, anniversary, antidilutive, arising, Cantor, Computershare, Concurrently, cured, CUSIP, customarily, drawdown, evolution, fee, Fitzgerald, France, freely, fully, Highbridge, inaccuracy, insolvency, intensify, intercreditor, intermittent, iv, Kingdom, legend, license, lien, LLC, Luxembourg, notably, pari, passu, prepaid, prepay, prepayment, prime, requisite, slower, springing, thereto, thereunder, tradable, tranche, Trust, trustee
Removed: deficiency, expanding, February, force, implementing, pattern, phased, seasonal, serve, spending, stronger

Patents

Utility
Patient Lift Apparatus
5 May 22
There is described a patient lift apparatus comprising a supporting frame, a boom portion connected to the supporting frame via a pivot joint (PJ1) to allow the boom portion to pivot with respect to the supporting frame about a pivot axis (PA1), and a boom actuator to mechanically assist pivotal movement of the boom portion with respect to the supporting frame.
Utility
Patient Lift Apparatus
28 Apr 22
There is described a patient lift apparatus comprising a supporting frame, a boom portion connected to the supporting frame via a pivot joint (PJ1) to allow the boom portion to pivot with respect to the supporting frame about a pivot axis (PA1), a boom actuator to mechanically assist pivotal movement of the boom portion with respect to the supporting frame, and a leg/knee support connected to the supporting frame.
Utility
Wheelchair Frame and Wheelchair Comprising the Same
10 Feb 22
There is described a wheelchair frame including first and second side frame members each having a first, rearward section designed to be coupled to a seat portion of a wheelchair and a second, forward section designed to be coupled to a foot portion of the wheelchair wherein the rearward and forward sections are connected to one another to form a substantially L-shaped profile.
Utility
Wheelchair suspension
1 Feb 22
A wheelchair suspension includes a frame, a drive assembly pivot arm, a drive assembly, a front caster pivot arm, a front caster, and a spring and shock absorbing assembly.
Utility
System and Method for Concentrating Gas
20 Jan 22
Gas concentrating systems and methods are provided.