InnovAge's (INNV) "Sell (D-)" Rating Reiterated at Weiss Ratings

Key Points

• InnovAge's stock has been given a "sell (D-)" rating by Weiss Ratings, indicating ongoing concerns from analysts regarding its performance.
• JPMorgan Chase & Co. issued an "underweight" rating for InnovAge, setting a price target of $5.00 per share, consistent with the average consensus rating of "Sell".
• Despite its recent quarterly earnings beating estimates, InnovAge reported a negative return on equity of 12.02% and a negative net margin of 3.55%, reflecting financial challenges.

InnovAge (NASDAQ:INNV - Get Free Report)'s stock had its "sell (d-)" rating reiterated by analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Separately, JPMorgan Chase & Co. assumed coverage on InnovAge in a research report on Thursday, September 18th. They issued an "underweight" rating and a $5.00 price target for the company. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Sell" and a consensus price target of $5.00.

InnovAge Stock Performance

NASDAQ INNV opened at $5.84 on Wednesday. The company has a market cap of $792.14 million, a PE ratio of -25.39 and a beta of 0.60. The stock's 50 day simple moving average is $4.18 and its 200-day simple moving average is $3.79. InnovAge has a 1-year low of $2.60 and a 1-year 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 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, beating analysts' consensus estimates of ($0.02) by $0.01. The business 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 has set its FY 2026 guidance at EPS. As a group, equities research analysts anticipate that InnovAge will post -0.12 EPS for the current fiscal year.

Institutional Trading of InnovAge

Several institutional investors have recently made changes to their positions in INNV. Bank of America Corp DE raised its position in shares of InnovAge by 42.4% during the 4th quarter. Bank of America Corp DE now owns 19,945 shares of the company's stock valued at $78,000 after buying an additional 5,936 shares during the period. Welch Capital Partners LLC NY raised its position in shares of InnovAge by 8.4% during the 1st quarter. Welch Capital Partners LLC NY now owns 365,907 shares of the company's stock valued at $1,090,000 after buying an additional 28,349 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of InnovAge by 2.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 164,322 shares of the company's stock worth $490,000 after purchasing an additional 4,535 shares during the period. Nuveen LLC purchased a new position in shares of InnovAge during the 1st quarter worth approximately $159,000. Finally, T. Rowe Price Investment Management Inc. boosted its position in shares of InnovAge by 4.4% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,259,843 shares of the company's stock worth $15,675,000 after purchasing an additional 222,155 shares during the period. Hedge funds and other institutional investors own 12.26% of the company's stock.

About InnovAge

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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