InnovAge (NASDAQ:INNV) Posts Earnings Results, Beats Expectations By $0.01 EPS

Key Points

• InnovAge reported a quarterly earnings per share of ($0.01), exceeding analyst estimates of ($0.02) by $0.01, despite a negative net margin of 3.75%.
• The company’s stock price rose 6.0% to $4.27 during midday trading, with a market cap of approximately $576.49 million.
• Institutional investors currently hold 12.26% of InnovAge's shares, with several hedge funds increasing their stakes in the company recently.

InnovAge (NASDAQ:INNV - Get Free Report) released its quarterly earnings results on Tuesday. The company reported ($0.01) EPS for the quarter, topping the consensus estimate of ($0.02) by $0.01, Zacks reports. The firm had revenue of $221.42 million during the quarter, compared to analyst estimates of $219.80 million. InnovAge had a negative return on equity of 12.02% and a negative net margin of 3.55%. InnovAge updated its FY 2026 guidance to EPS.

InnovAge Stock Down 1.5%

InnovAge stock traded down $0.07 during trading hours on Friday, reaching $4.55. The stock had a trading volume of 51,830 shares, compared to its average volume of 25,451. The company has a market cap of $617.15 million, a price-to-earnings ratio of -19.78 and a beta of 0.52. The business's 50 day moving average price is $3.81 and its 200-day moving average price is $3.58. InnovAge has a 52 week low of $2.60 and a 52 week high of $6.69. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 0.78.

Institutional Investors Weigh In On InnovAge

Several institutional investors have recently bought and sold shares of the company. Kent Lake PR LLC increased its position in shares of InnovAge by 13.1% during the second quarter. Kent Lake PR LLC now owns 1,697,036 shares of the company's stock worth $6,262,000 after purchasing an additional 197,036 shares in the last quarter. Welch Capital Partners LLC NY boosted its holdings in InnovAge by 22.6% in the second quarter. Welch Capital Partners LLC NY now owns 448,775 shares of the company's stock worth $1,656,000 after acquiring an additional 82,868 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of InnovAge by 3.0% during the second quarter. Geode Capital Management LLC now owns 554,880 shares of the company's stock worth $2,048,000 after acquiring an additional 16,205 shares during the last quarter. Strs Ohio purchased a new stake in shares of InnovAge during the first quarter worth about $186,000. Finally, Jane Street Group LLC increased its holdings in shares of InnovAge by 18.9% during the first quarter. Jane Street Group LLC now owns 46,827 shares of the company's stock valued at $140,000 after acquiring an additional 7,429 shares in the last quarter. 12.26% of the stock is currently owned by institutional investors and hedge funds.

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.