InnovAge (OTCMKTS:INNV – Get Rating) posted its quarterly earnings data on Tuesday. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.06), Fidelity Earnings reports. InnovAge had a negative return on equity of 0.69% and a negative net margin of 0.93%.
InnovAge Stock Up 22.0 %
Shares of INNV opened at $4.94 on Thursday. InnovAge has a 52 week low of $3.39 and a 52 week high of $14.66. The firm has a market cap of $669.47 million, a P/E ratio of -123.47 and a beta of 1.22. The firm’s 50-day simple moving average is $4.24 and its 200 day simple moving average is $4.91. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.65 and a current ratio of 2.65.
Institutional Investors Weigh In On InnovAge
A number of hedge funds and other institutional investors have recently made changes to their positions in INNV. Captrust Financial Advisors increased its stake in shares of InnovAge by 4,122.1% in the 1st quarter. Captrust Financial Advisors now owns 5,742 shares of the company’s stock valued at $37,000 after purchasing an additional 5,606 shares during the last quarter. State Street Corp lifted its holdings in shares of InnovAge by 2.1% in the first quarter. State Street Corp now owns 323,301 shares of the company’s stock worth $2,076,000 after acquiring an additional 6,569 shares during the last quarter. Rhumbline Advisers increased its position in InnovAge by 79.7% during the 2nd quarter. Rhumbline Advisers now owns 27,237 shares of the company’s stock worth $119,000 after purchasing an additional 12,080 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in InnovAge by 96.1% in the second quarter. Goldman Sachs Group Inc. now owns 26,244 shares of the company’s stock valued at $115,000 after buying an additional 12,864 shares in the last quarter. Finally, Delphia USA Inc. bought a new stake in InnovAge during the 1st quarter worth $143,000. 12.43% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
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 their homes and communities. It manages its business through Program of All-Inclusive Care for the Elderly (PACE) approach. The company 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.
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