KeyCorp Has Negative Outlook of InnovAge FY2026 Earnings

Key Points

• KeyCorp cut its FY2026 earnings estimate for InnovAge to $0.01 per share from $0.25, well below the current consensus estimate of $0.07. The firm maintained an “Overweight” rating and a $13 price target.
• Analyst sentiment is mixed but leans negative: InnovAge has an average “Reduce” rating and a $10 average price target, with one Buy, one Hold and two Sell ratings.
• InnovAge shares opened at $11.02, near the $11.00 50-day moving average, while institutional investors—including BlackRock and T. Rowe Price—have recently accumulated shares. Institutions and hedge funds own 12.26% of the company.

InnovAge Holding Corp. (NASDAQ:INNV - Free Report) - Research analysts at KeyCorp cut their FY2026 earnings estimates for InnovAge in a research report issued to clients and investors on Thursday, August 20th. KeyCorp analyst M. Gillmor now anticipates that the company will earn $0.01 per share for the year, down from their previous estimate of $0.25. KeyCorp currently has a "Overweight" rating and a $13.00 target price on the stock. The consensus estimate for InnovAge's current full-year earnings is $0.07 per share. KeyCorp also issued estimates for InnovAge's FY2028 earnings at $0.52 EPS.

A number of other equities research analysts have also recently weighed in on INNV. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of InnovAge in a report on Thursday, August 13th. Wall Street Zen lowered InnovAge from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Reduce" and an average price target of $10.00.

InnovAge Price Performance

NASDAQ INNV opened at $11.02 on Tuesday. InnovAge has a 52 week low of $3.54 and a 52 week high of $12.64. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.26. The stock has a market cap of $1.50 billion, a price-to-earnings ratio of -122.44 and a beta of 0.39. The company has a 50-day moving average price of $11.00 and a two-hundred day moving average price of $9.12.

Institutional Investors Weigh In On InnovAge

Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new position in InnovAge in the 2nd quarter valued at about $17,652,000. T. Rowe Price Investment Management Inc. raised its position in shares of InnovAge by 10.3% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,168,330 shares of the company's stock worth $32,014,000 after buying an additional 577,558 shares in the last quarter. Algert Global LLC raised its position in shares of InnovAge by 844.1% during 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 in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of InnovAge in the 1st quarter worth approximately $4,250,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of InnovAge in the 1st quarter worth approximately $3,349,000. Institutional investors and hedge funds own 12.26% of the company's stock.

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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