InnovAge Holding Corp. (NASDAQ:INNV – Get Free Report)’s stock price gapped up before the market opened on Friday . The stock had previously closed at $10.72, but opened at $11.26. InnovAge shares last traded at $11.25, with a volume of 86,609 shares.
Analyst Upgrades and Downgrades
INNV has been the topic of a number of research reports. Zacks Research lowered shares of InnovAge from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. KeyCorp raised InnovAge from a “sector weight” rating to an “overweight” rating and set a $13.00 target price on the stock in a report on Friday. Wall Street Zen cut InnovAge from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of InnovAge in a research note on Thursday, August 13th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, InnovAge has an average rating of “Reduce” and an average price target of $10.00.
Read Our Latest Stock Report on InnovAge
InnovAge Stock Up 2.7%
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new position in shares of InnovAge during the second quarter worth approximately $25,000. Invesco Ltd. bought a new position in shares of InnovAge in the fourth quarter valued at $57,000. CIBC Asset Management Inc acquired a new position in shares of InnovAge during the fourth quarter valued at about $57,000. Deutsche Bank AG increased its position in shares of InnovAge by 15.1% during the fourth quarter. Deutsche Bank AG now owns 12,775 shares of the company’s stock worth $66,000 after acquiring an additional 1,679 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in InnovAge by 42.4% in the 4th quarter. Bank of America Corp DE now owns 19,945 shares of the company’s stock valued at $78,000 after acquiring an additional 5,936 shares in the last quarter. Institutional investors own 12.26% of the company’s stock.
About InnovAge
InnovAge Holdings, Inc (NASDAQ:INNV) is a healthcare services company that specializes in caring for seniors through the Program of All-Inclusive Care for the Elderly (PACE). Designed for individuals who are eligible for both Medicare and Medicaid, the PACE model integrates medical care, social services and long-term care—delivered primarily in participants’ homes and community-based centers. InnovAge’s approach centers on interdisciplinary care teams that coordinate everything from primary and specialty medical services to nutritional counseling and recreational activities.
The company’s core offerings include comprehensive in-home assessments, physician and nursing services, physical and occupational therapy, prescription medication management, and transportation to medical appointments.
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