William Blair Equities Analysts Lower Earnings Estimates for InnovAge Holding Corp. (NASDAQ:INNV)

InnovAge Holding Corp. (NASDAQ:INNV - Free Report) - Equities researchers at William Blair cut their FY2025 earnings estimates for InnovAge in a research note issued to investors on Tuesday, May 7th. William Blair analyst J. Haase now expects that the company will earn $0.01 per share for the year, down from their previous estimate of $0.04. The consensus estimate for InnovAge's current full-year earnings is ($0.14) per share.

InnovAge (NASDAQ:INNV - Get Free Report) last issued its quarterly earnings results on Monday, February 5th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). The company had revenue of $188.90 million for the quarter, compared to analysts' expectations of $181.51 million. InnovAge had a negative return on equity of 10.53% and a negative net margin of 4.38%. During the same period in the prior year, the firm earned ($0.07) earnings per share.

Several other equities analysts have also issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of InnovAge from $7.00 to $6.00 and set a "neutral" rating for the company in a report on Wednesday, March 13th. The Goldman Sachs Group lowered their price target on shares of InnovAge from $8.00 to $7.00 and set a "neutral" rating for the company in a report on Thursday, February 8th.

InnovAge Stock Up 1.6 %

Shares of NASDAQ:INNV traded up $0.07 during midday trading on Thursday, reaching $4.33. The company's stock had a trading volume of 17,415 shares, compared to its average volume of 25,036. InnovAge has a 12-month low of $3.52 and a 12-month high of $8.05. The firm has a market capitalization of $588.45 million, a P/E ratio of -17.04 and a beta of 0.24. The firm has a 50 day moving average of $4.36 and a 200-day moving average of $5.17. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.26.

Institutional Investors Weigh In On InnovAge

Several hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in InnovAge by 386.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,078 shares of the company's stock valued at $30,000 after buying an additional 4,034 shares during the period. Cambiar Investors LLC boosted its holdings in InnovAge by 10.5% in the third quarter. Cambiar Investors LLC now owns 303,557 shares of the company's stock valued at $1,818,000 after purchasing an additional 28,890 shares in the last quarter. Finally, Kent Lake Capital LLC boosted its holdings in shares of InnovAge by 20.5% in the 3rd quarter. Kent Lake Capital LLC now owns 1,402,323 shares of the company's stock valued at $8,400,000 after buying an additional 238,551 shares in the last quarter. 12.26% of the stock is owned by hedge funds and other institutional investors.

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 their 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.