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Stock Alert: Invacare Shares Surge

Invacare Corp. (IVC) shares are on the rise in morning trade. At one point, shares reached as much as $8.51 and currently trading at $8.24, up 8.85 percent from the previous close of $7.57.

On Monday, Invacare reaffirmed its full-year 2020 sales growth outlook. For fiscal 2020, the company now projects constant currency net sales growth of 2 to 4 percent. On average, analysts polled by Thomson Reuters expected the company to report net sales growth of 3.1 percent to $965.67 million for the year.

For fourth quarter, the manufacturer and distributor of non-acute medical equipment, reported loss of $18.68 million, much wider than the $1.25 million loss in the prior year. Loss per share widened to $0.56 from $0.04 per share in the comparable quarter. On an adjusted basis, loss was $9.32 million or $0.28 per share

Revenue for the quarter were slightly down to $232.9 million, from $244.6 million in the same period last year.

For the first quarter, Invacare expects sales to be flat over the prior year. The Street is looking for net sales growth of 1.8 percent to $227.36 million for the quarter.

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