InnovAge (NASDAQ:INNV) Posts Quarterly Earnings Results, Beats Expectations By $0.05 EPS

InnovAge (NASDAQ:INNV) issued its quarterly earnings results on Tuesday. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.05, Zacks reports. InnovAge had a negative return on equity of 7.04% and a negative net margin of 1.96%.The company had revenue of $236.11 million during the quarter, compared to analyst estimates of $226.64 million. InnovAge updated its FY 2026 guidance to EPS.

InnovAge Trading Up 19.9%

InnovAge stock traded up $0.80 during trading on Thursday, reaching $4.79. The company had a trading volume of 137,467 shares, compared to its average volume of 50,646. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.07 and a current ratio of 1.07. InnovAge has a 12-month low of $2.60 and a 12-month high of $6.49. The stock’s 50 day moving average price is $4.83 and its two-hundred day moving average price is $4.12. The firm has a market capitalization of $649.23 million, a price-to-earnings ratio of -36.62 and a beta of 0.59.

Institutional Investors Weigh In On InnovAge

Several institutional investors have recently bought and sold shares of INNV. Kent Lake PR LLC grew its stake in 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 buying an additional 197,036 shares during the period. Welch Capital Partners LLC NY lifted its position in shares of InnovAge by 22.6% during the second quarter. Welch Capital Partners LLC NY now owns 448,775 shares of the company’s stock worth $1,656,000 after purchasing an additional 82,868 shares in the last quarter. Strs Ohio acquired a new position in shares of InnovAge during the first quarter worth $186,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of InnovAge during the first quarter worth $166,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of InnovAge by 41.2% during the first quarter. Goldman Sachs Group Inc. now owns 94,831 shares of the company’s stock worth $283,000 after purchasing an additional 27,674 shares in the last quarter. 12.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on INNV shares. JPMorgan Chase & Co. started coverage on InnovAge in a report on Thursday, September 18th. They set an “underweight” rating and a $5.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of InnovAge in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell” and an average target price of $5.00.

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.