InnovAge (NASDAQ:INNV) Given New $14.00 Price Target at KeyCorp

Key Points

• KeyCorp raised InnovAge’s price target to $14.00 from $13.00 and maintained an “overweight” rating, implying 33.08% upside from the prior close. However, the broader analyst consensus remains “Reduce,” with an average price target of $10.50.
• InnovAge reported quarterly revenue of $261.95 million, above the $238.33 million consensus estimate, but EPS of $0.06 missed expectations and the company posted negative net margin and return on equity.
• Institutional investors own 12.26% of InnovAge, with several hedge funds—including T. Rowe Price, BlackRock and Algert Global—recently increasing or initiating positions.

InnovAge (NASDAQ:INNV - Get Free Report) had its target price raised by stock analysts at KeyCorp from $13.00 to $14.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. KeyCorp's target price suggests a potential upside of 33.08% from the company's previous close.

A number of other equities research analysts have also recently commented on the stock. Wall Street Zen cut shares of InnovAge from a "buy" rating to a "hold" rating in a research note on Sunday, May 17th. Weiss Ratings reiterated a "sell (d-)" rating on shares of InnovAge in a research report on Thursday, August 13th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, InnovAge presently has a consensus rating of "Reduce" and a consensus price target of $10.50.

InnovAge Stock Performance

NASDAQ:INNV opened at $10.52 on Wednesday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.03 and a current ratio of 1.03. The stock has a 50-day simple moving average of $11.20 and a two-hundred day simple moving average of $9.32. The firm has a market capitalization of $1.43 billion, a PE ratio of -116.89 and a beta of 0.40. InnovAge has a 52-week low of $3.82 and a 52-week high of $12.64.

InnovAge (NASDAQ:INNV - Get Free Report) last posted its quarterly earnings data on Tuesday, September 8th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). InnovAge had a negative return on equity of 4.73% and a negative net margin of 1.22%.The company had revenue of $261.95 million during the quarter, compared to the consensus estimate of $238.33 million.

Institutional Trading of InnovAge

Several hedge funds have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. grew its position in shares of InnovAge by 10.3% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 6,168,330 shares of the company's stock valued at $32,014,000 after purchasing an additional 577,558 shares in the last quarter. Kent Lake PR LLC raised its holdings in shares of InnovAge by 13.1% during the 2nd quarter. Kent Lake PR LLC now owns 1,697,036 shares of the company's stock worth $6,262,000 after acquiring an additional 197,036 shares in the last quarter. BlackRock Inc. bought a new position in InnovAge during the second quarter valued at $17,652,000. Vanguard Group Inc. grew its stake in shares of InnovAge by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,124,321 shares of the company's stock worth $5,801,000 after buying an additional 4,239 shares in the last quarter. Finally, Algert Global LLC increased its holdings in shares of InnovAge by 844.1% in the 2nd quarter. Algert Global LLC now owns 630,520 shares of the company's stock worth $7,472,000 after buying an additional 563,735 shares during the last quarter. Hedge funds and other institutional investors own 12.26% of the company's stock.

InnovAge News Roundup

Here are the key news stories impacting InnovAge this week:

• Positive Sentiment: InnovAge forecast fiscal 2027 revenue of approximately $1.05 billion to $1.085 billion and adjusted EBITDA of $105 million to $115 million. The company also expects census growth of 5% to 7.5%, signaling continued expansion of its senior-care business. Fiscal 2027 guidance
• Positive Sentiment: Fiscal fourth-quarter revenue reached $261.95 million, exceeding the analyst estimate of $238.33 million. The revenue beat suggests solid operating momentum despite profitability challenges. InnovAge quarterly results
• Neutral Sentiment: Management highlighted growth milestones and a stronger operational foundation as it begins a new phase of expansion. Investors will likely focus on whether the company can convert that growth into consistent profitability. InnovAge growth milestones
• Negative Sentiment: InnovAge reported fiscal fourth-quarter EPS of $0.06, below estimates ranging from $0.07 to $0.09. The company also posted a negative net margin and negative return on equity, underscoring ongoing profitability risks. InnovAge EPS miss

About InnovAge

InnovAge Holdings, Inc NASDAQ: INNV is a healthcare services company that specializes in caring for seniors through the Program of All-Inclusive Care for the Elderly (PACE). Designed for individuals who are eligible for both Medicare and Medicaid, the PACE model integrates medical care, social services and long-term care—delivered primarily in participants' homes and community-based centers. InnovAge's approach centers on interdisciplinary care teams that coordinate everything from primary and specialty medical services to nutritional counseling and recreational activities.

The company's core offerings include comprehensive in-home assessments, physician and nursing services, physical and occupational therapy, prescription medication management, and transportation to medical appointments.

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