Janus Henderson Group PLC Makes New $971,000 Investment in InnovAge Holding Corp. $INNV

Key Points

• Janus Henderson Group initiated a $971,000 position in InnovAge, purchasing 121,117 shares, while institutional investors collectively owned 12.26% of the company.
• InnovAge shares opened at $10.90, near the upper end of their 52-week range of $3.17 to $12.64, with a market capitalization of approximately $1.48 billion.
• Analyst sentiment is negative: InnovAge has an average rating of “Sell” from MarketBeat, with two Sell ratings, one Hold rating, and an average price target of $7.00.

Janus Henderson Group PLC purchased a new position in shares of InnovAge Holding Corp. (NASDAQ:INNV - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 121,117 shares of the company's stock, valued at approximately $971,000. Janus Henderson Group PLC owned approximately 0.09% of InnovAge at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of INNV. T. Rowe Price Investment Management Inc. lifted its stake 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 buying an additional 577,558 shares during the period. Hillsdale Investment Management Inc. acquired a new position in InnovAge in the 1st quarter valued at $4,250,000. Arrowstreet Capital Limited Partnership acquired a new position in InnovAge in the 1st quarter valued at $3,349,000. Marshall Wace LLP acquired a new position in InnovAge in the 4th quarter valued at $1,512,000. Finally, O Shaughnessy Asset Management LLC lifted its stake in shares of InnovAge by 1,978.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 238,881 shares of the company's stock worth $1,240,000 after purchasing an additional 227,387 shares during the period. Institutional investors and hedge funds own 12.26% of the company's stock.

InnovAge Price Performance

INNV opened at $10.90 on Tuesday. InnovAge Holding Corp. has a 52-week low of $3.17 and a 52-week high of $12.64. The company has a 50 day moving average of $10.45 and a two-hundred day moving average of $8.77. The company has a market cap of $1.48 billion, a P/E ratio of -121.11 and a beta of 0.39. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.26.

Analyst Ratings Changes

Several research firms recently weighed in on INNV. Weiss Ratings downgraded InnovAge from a "hold (c-)" rating to a "sell (d-)" rating in a research report on Monday, May 18th. Wall Street Zen cut InnovAge from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. Finally, Zacks Research downgraded shares of InnovAge from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 24th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Sell" and an average price target of $7.00.

InnovAge Profile

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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