InnovAge (NASDAQ:INNV) Issues Earnings Results

InnovAge (NASDAQ:INNV) announced its earnings results on Tuesday. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05, Zacks reports. InnovAge had a negative return on equity of 12.02% and a negative net margin of 3.55%.The business had revenue of $236.11 million for the quarter, compared to analyst estimates of $226.64 million. InnovAge updated its FY 2026 guidance to EPS.

InnovAge Stock Performance

NASDAQ:INNV traded up $0.14 during trading hours on Wednesday, reaching $4.98. The company had a trading volume of 37,771 shares, compared to its average volume of 49,154. InnovAge has a 52 week low of $2.60 and a 52 week high of $6.69. The firm’s 50 day moving average price is $4.83 and its 200-day moving average price is $4.12. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.27. The firm has a market cap of $675.69 million, a price-to-earnings ratio of -21.65 and a beta of 0.59.

Analyst Ratings Changes

INNV has been the subject of a number of analyst reports. JPMorgan Chase & Co. initiated coverage on shares of InnovAge in a report on Thursday, September 18th. They set an “underweight” rating and a $5.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of InnovAge in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell” and a consensus target price of $5.00.

Institutional Trading of InnovAge

Several hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE increased its position in shares of InnovAge by 42.4% during the fourth quarter. Bank of America Corp DE now owns 19,945 shares of the company’s stock worth $78,000 after acquiring an additional 5,936 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in InnovAge in the first quarter valued at approximately $166,000. Goldman Sachs Group Inc. lifted its stake in shares of InnovAge by 41.2% during the first quarter. Goldman Sachs Group Inc. now owns 94,831 shares of the company’s stock worth $283,000 after buying an additional 27,674 shares during the period. Jane Street Group LLC lifted its stake in shares of InnovAge by 18.9% during the first quarter. Jane Street Group LLC now owns 46,827 shares of the company’s stock worth $140,000 after buying an additional 7,429 shares during the period. Finally, Strs Ohio acquired a new position in InnovAge during the first quarter valued at $186,000. Hedge funds and other institutional investors own 12.26% of the company’s stock.

InnovAge Company Profile

InnovAge Holding Corp. manages and provides a range of medical and ancillary services for seniors in need of care and support to live independently in its homes and communities. The company manages its business through Program of All-Inclusive Care for the Elderly (PACE) approach. It also offers in-home care services consisting of skilled, unskilled, and personal care; in-center services, such as primary care, physical therapy, occupational therapy, speech therapy, dental services, mental health and psychiatric services, meals, and activities; transportation to the PACE center and third-party medical appointments; and care management.