InnovAge (NASDAQ:INNV) Releases Quarterly Earnings Results

InnovAge (NASDAQ:INNV) released its quarterly earnings data on Tuesday. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.01 by $0.05, Zacks reports. InnovAge had a negative net margin of 3.55% and a negative return on equity of 12.02%. InnovAge updated its FY 2026 guidance to EPS.

InnovAge Price Performance

INNV traded up $0.10 on Tuesday, hitting $4.84. 182,883 shares of the stock were exchanged, compared to its average volume of 75,513. InnovAge has a 12 month low of $2.60 and a 12 month high of $6.69. The business has a 50-day moving average of $4.83 and a two-hundred day moving average of $4.12. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.27.

Institutional Investors Weigh In On InnovAge

Several institutional investors and hedge funds have recently bought and sold shares of INNV. Bank of America Corp DE lifted its position in InnovAge by 42.4% during the fourth quarter. Bank of America Corp DE now owns 19,945 shares of the company’s stock worth $78,000 after purchasing an additional 5,936 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in shares of InnovAge in the first quarter worth about $166,000. Goldman Sachs Group Inc. lifted its holdings in shares of InnovAge by 41.2% in the first quarter. Goldman Sachs Group Inc. now owns 94,831 shares of the company’s stock worth $283,000 after acquiring an additional 27,674 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of InnovAge by 18.9% in the first quarter. Jane Street Group LLC now owns 46,827 shares of the company’s stock worth $140,000 after acquiring an additional 7,429 shares during the last quarter. Finally, Strs Ohio bought a new position in shares of InnovAge in the first quarter worth about $186,000. Institutional investors own 12.26% of the company’s stock.

Analysts Set New Price Targets

INNV has been the topic of several research reports. JPMorgan Chase & Co. assumed coverage on shares of InnovAge in a report on Thursday, September 18th. They issued an “underweight” rating and a $5.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of InnovAge in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, InnovAge has an average rating of “Sell” and a consensus 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.