InnovAge (NASDAQ:INNV) Trading Up 5.9% – Still a Buy?

InnovAge Holding Corp. (NASDAQ:INNV)’s stock price rose 5.9% on Monday . The stock traded as high as $5.52 and last traded at $5.59. Approximately 19,333 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 64,638 shares. The stock had previously closed at $5.28.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. began coverage on shares of InnovAge in a research note on Thursday, September 18th. They issued an “underweight” rating and a $5.00 target price on the stock. Wall Street Zen raised shares of InnovAge to a “strong-buy” rating in a research note on Saturday, November 8th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of InnovAge in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the stock has a consensus rating of “Sell” and an average target price of $5.00.

InnovAge Stock Performance

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 company has a market capitalization of $732.68 million, a price-to-earnings ratio of -41.54 and a beta of 0.59. The firm has a 50-day simple moving average of $5.13 and a two-hundred day simple moving average of $4.36.

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

Insider Activity

In related news, COO Michael Anthony Scarbrough sold 33,000 shares of InnovAge stock in a transaction on Friday, November 14th. The stock was sold at an average price of $4.90, for a total value of $161,700.00. Following the completion of the transaction, the chief operating officer directly owned 119,617 shares in the company, valued at approximately $586,123.30. This trade represents a 21.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On InnovAge

Hedge funds have recently bought and sold shares of the stock. Winnow Wealth LLC acquired a new position in shares of InnovAge during the second quarter worth about $369,000. Charles Schwab Investment Management Inc. increased its holdings in 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 buying an additional 4,535 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake 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 buying an additional 222,155 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in shares of InnovAge during the 2nd quarter worth about $110,000. Finally, Nuveen LLC purchased a new position in shares of InnovAge in the 1st quarter valued at about $159,000. Institutional investors and hedge funds 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.