InnovAge (NASDAQ:INNV) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

InnovAge (NASDAQ:INNV) posted its quarterly earnings data on Tuesday. The company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.01, Zacks reports. InnovAge had a negative net margin of 3.75% and a negative return on equity of 11.91%. InnovAge updated its FY 2026 guidance to EPS.

InnovAge Price Performance

NASDAQ:INNV opened at $4.27 on Wednesday. The firm has a market cap of $576.51 million, a PE ratio of -18.56 and a beta of 0.52. InnovAge has a 12 month low of $2.60 and a 12 month high of $6.69. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average price is $3.80 and its two-hundred day moving average price is $3.55.

Hedge Funds Weigh In On InnovAge

Large investors have recently modified their holdings of the stock. Kent Lake PR LLC lifted its position 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 in the last quarter. Geode Capital Management LLC raised its stake in shares of InnovAge by 3.0% during the second quarter. Geode Capital Management LLC now owns 554,880 shares of the company’s stock worth $2,048,000 after buying an additional 16,205 shares during the last quarter. Welch Capital Partners LLC NY raised its stake 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 buying an additional 82,868 shares during the last quarter. Goldman Sachs Group Inc. raised its stake 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 buying an additional 27,674 shares during the last quarter. Finally, Strs Ohio bought a new stake in shares of InnovAge during the first quarter worth approximately $186,000. 12.26% of the stock is currently owned by institutional investors and hedge funds.

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.