InnovAge (NASDAQ:INNV) Stock Price Up 7.2% – Time to Buy?

Shares of InnovAge Holding Corp. (NASDAQ:INNV) rose 7.2% during trading on Tuesday . The stock traded as high as $5.46 and last traded at $5.4120. Approximately 135,137 shares traded hands during mid-day trading, an increase of 152% from the average daily volume of 53,638 shares. The stock had previously closed at $5.05.

Analyst Ratings Changes

Several equities research analysts recently issued reports on INNV shares. Wall Street Zen raised shares of InnovAge to a “strong-buy” rating in a research note on Saturday. JPMorgan Chase & Co. began coverage on InnovAge in a research note on Thursday, September 18th. They issued an “underweight” rating and a $5.00 price objective on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of InnovAge in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell” and an average target price of $5.00.

InnovAge Trading Up 6.8%

The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.17 and a current ratio of 1.17. The company’s 50 day moving average is $4.90 and its 200 day moving average is $4.17. The stock has a market capitalization of $731.99 million, a price-to-earnings ratio of -41.50 and a beta of 0.59.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of INNV. T. Rowe Price Investment Management Inc. raised its stake in InnovAge by 4.4% during the first quarter. T. Rowe Price Investment Management Inc. now owns 5,259,843 shares of the company’s stock worth $15,675,000 after acquiring an additional 222,155 shares in the last quarter. Kent Lake PR LLC lifted its holdings in InnovAge by 13.1% during the 2nd quarter. Kent Lake PR LLC now owns 1,697,036 shares of the company’s stock valued at $6,262,000 after purchasing an additional 197,036 shares during the last quarter. Winnow Wealth LLC acquired a new position in InnovAge in the second quarter valued at about $369,000. Welch Capital Partners LLC NY boosted its position in InnovAge by 22.6% in the second quarter. Welch Capital Partners LLC NY now owns 448,775 shares of the company’s stock valued at $1,656,000 after buying an additional 82,868 shares in the last quarter. Finally, Strs Ohio bought a new stake in InnovAge during the 1st 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.