InnovAge (NASDAQ:INNV) Hits New 12-Month High – What’s Next?

InnovAge Holding Corp. (NASDAQ:INNV) reached a new 52-week high on Thursday . The company traded as high as $6.26 and last traded at $5.69, with a volume of 750921 shares traded. The stock had previously closed at $5.42.

Analysts Set New Price Targets

INNV has been the subject of a number of research reports. JPMorgan Chase & Co. initiated coverage on InnovAge in a research report on Thursday, September 18th. They set an “underweight” rating and a $5.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of InnovAge in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded shares of InnovAge to a “strong-buy” rating in a report on Saturday, November 8th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell” and a consensus target price of $5.00.

InnovAge Trading Down 9.7%

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market capitalization of $656.69 million, a price-to-earnings ratio of -37.23 and a beta of 0.59. The company’s 50 day moving average is $5.03 and its 200 day moving average is $4.22.

InnovAge (NASDAQ:INNV) last released its earnings results on Tuesday, November 4th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05. The business had revenue of $236.11 million for the quarter, compared to the consensus estimate of $226.64 million. InnovAge had a negative return on equity of 7.02% and a negative net margin of 1.96%. InnovAge has set its FY 2026 guidance at EPS. On average, research analysts forecast that InnovAge Holding Corp. will post -0.12 EPS for the current fiscal year.

Institutional Trading of InnovAge

Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in InnovAge by 42.4% during the 4th quarter. Bank of America Corp DE now owns 19,945 shares of the company’s stock worth $78,000 after buying an additional 5,936 shares in the last quarter. Welch Capital Partners LLC NY grew its stake in shares of InnovAge by 8.4% during the first quarter. Welch Capital Partners LLC NY now owns 365,907 shares of the company’s stock valued at $1,090,000 after purchasing an additional 28,349 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of InnovAge by 2.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 164,322 shares of the company’s stock valued at $490,000 after purchasing an additional 4,535 shares in the last quarter. Nuveen LLC bought a new position in InnovAge in the 1st quarter valued at $159,000. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in InnovAge by 4.4% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,259,843 shares of the company’s stock valued at $15,675,000 after acquiring an additional 222,155 shares during the last quarter. 12.26% of the stock is owned by institutional investors.

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.