InnovAge Holding Corp. (NASDAQ:INNV - Get Free Report)'s stock price rose 13% on Wednesday . The stock traded as high as $5.55 and last traded at $5.89. Approximately 54,321 shares were traded during mid-day trading, an increase of 19% from the average daily volume of 45,772 shares. The stock had previously closed at $5.21.
Analyst Ratings Changes
INNV has been the subject of several analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of InnovAge in a research note on Wednesday. JPMorgan Chase & Co. initiated coverage on InnovAge in a report on Thursday, September 18th. They set an "underweight" rating and a $5.00 price target for the company. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, InnovAge has a consensus rating of "Sell" and an average target price of $5.00.
Read Our Latest Stock Report on InnovAge
InnovAge Price Performance
The company has a fifty day moving average of $4.13 and a 200 day moving average of $3.77. The firm has a market capitalization of $792.14 million, a P/E ratio of -25.39 and a beta of 0.60. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.07 and a quick ratio of 1.07.
InnovAge (NASDAQ:INNV - Get Free Report) last posted its quarterly earnings results on Tuesday, September 9th. The company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.02) by $0.01. InnovAge had a negative return on equity of 12.02% and a negative net margin of 3.55%.The firm had revenue of $221.42 million for the quarter, compared to analysts' expectations of $219.80 million. InnovAge has set its FY 2026 guidance at EPS. Sell-side analysts predict that InnovAge Holding Corp. will post -0.12 earnings per share for the current year.
Institutional Investors Weigh In On InnovAge
Institutional investors and hedge funds have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. grew its stake in InnovAge by 4.4% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,259,843 shares of the company's stock valued at $15,675,000 after purchasing an additional 222,155 shares during the period. Kent Lake PR LLC grew its stake in InnovAge by 13.1% in the 2nd quarter. Kent Lake PR LLC now owns 1,697,036 shares of the company's stock valued at $6,262,000 after purchasing an additional 197,036 shares during the period. Winnow Wealth LLC bought a new position in InnovAge in the 2nd quarter valued at $369,000. Welch Capital Partners LLC NY grew its stake in InnovAge by 22.6% in the 2nd quarter. Welch Capital Partners LLC NY now owns 448,775 shares of the company's stock valued at $1,656,000 after purchasing an additional 82,868 shares during the period. Finally, Strs Ohio bought a new position in InnovAge in the 1st quarter valued at $186,000. 12.26% of the stock is owned by hedge funds and other institutional investors.
InnovAge Company Profile
(
Get Free Report)
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.
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