InnovAge (NASDAQ:INNV) Stock Price Up 3.5% – Time to Buy?

InnovAge Holding Corp. (NASDAQ:INNV)’s share price rose 3.5% during trading on Tuesday . The company traded as high as $5.14 and last traded at $5.1450. Approximately 39,002 shares changed hands during trading, a decline of 35% from the average daily volume of 60,392 shares. The stock had previously closed at $4.97.

Analyst Upgrades and Downgrades

INNV has been the subject of several analyst reports. Wall Street Zen upgraded InnovAge to a “strong-buy” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of InnovAge in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. assumed coverage on InnovAge in a research report on Thursday, September 18th. They set an “underweight” rating and a $5.00 price target on the stock. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, InnovAge currently has a consensus rating of “Sell” and an average target price of $5.00.

InnovAge Price Performance

The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $729.96 million, a price-to-earnings ratio of -41.50 and a beta of 0.59. The company’s 50 day moving average is $5.05 and its 200-day moving average is $4.25.

InnovAge (NASDAQ:INNV) last released its quarterly earnings data on Tuesday, November 4th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.05. InnovAge had a negative return on equity of 7.02% and a negative net margin of 1.96%.The firm had revenue of $236.11 million for the quarter, compared to analyst estimates of $226.64 million. InnovAge has set its FY 2026 guidance at EPS. Equities research analysts anticipate that InnovAge Holding Corp. will post -0.12 earnings per share for the current year.

Insider Transactions at InnovAge

In other InnovAge news, COO Michael Anthony Scarbrough sold 33,000 shares of InnovAge stock in a transaction on Friday, November 14th. The shares were sold at an average price of $4.90, for a total transaction of $161,700.00. Following the completion of the transaction, the chief operating officer directly owned 119,617 shares of the company’s stock, valued at $586,123.30. The trade was a 21.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Institutional Trading of InnovAge

Several hedge funds and other institutional investors have recently modified their holdings 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 buying an additional 222,155 shares during the last quarter. Kent Lake PR LLC increased its stake 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 during the period. Winnow Wealth LLC acquired a new stake in InnovAge during the 2nd quarter worth approximately $369,000. Welch Capital Partners LLC NY boosted 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 acquired a new position in InnovAge in the 1st quarter valued at $186,000. 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.