Janus Henderson Group PLC Purchases New Shares in InnovAge Holding Corp. $INNV

Janus Henderson Group PLC purchased a new position in shares of InnovAge Holding Corp. (NASDAQ:INNV) during the 1st quarter, Holdings Channel.com reports. The fund purchased 121,117 shares of the company’s stock, valued at approximately $971,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Lazard Asset Management LLC acquired a new stake in shares of InnovAge during the first quarter valued at about $516,000. Renaissance Technologies LLC lifted its stake in shares of InnovAge by 100.8% in the first quarter. Renaissance Technologies LLC now owns 370,817 shares of the company’s stock worth $2,974,000 after acquiring an additional 186,117 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in InnovAge in the first quarter valued at about $3,349,000. Dimensional Fund Advisors LP boosted its holdings in InnovAge by 383.4% in the first quarter. Dimensional Fund Advisors LP now owns 236,485 shares of the company’s stock valued at $1,896,000 after purchasing an additional 187,567 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in InnovAge during the 1st quarter valued at approximately $4,250,000. Institutional investors and hedge funds own 12.26% of the company’s stock.

InnovAge Stock Performance

InnovAge stock opened at $10.90 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.03 and a quick ratio of 1.03. InnovAge Holding Corp. has a 12 month low of $3.17 and a 12 month high of $12.64. The company has a fifty day moving average price of $10.45 and a two-hundred day moving average price of $8.77. The company has a market cap of $1.48 billion, a PE ratio of -121.11 and a beta of 0.39.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on INNV shares. Wall Street Zen downgraded InnovAge from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Zacks Research downgraded shares of InnovAge from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 24th. Finally, Weiss Ratings lowered shares of InnovAge from a “hold (c-)” rating to a “sell (d-)” rating in a research note on Monday, May 18th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Sell” and an average target price of $7.00.

InnovAge Profile

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.