InnovAge (NASDAQ:INNV) Posts Earnings Results, Meets Estimates

InnovAge (NASDAQ:INNV) announced its quarterly earnings data on Tuesday. The company reported ($0.04) EPS for the quarter, meeting analysts’ consensus estimates of ($0.04), Zacks reports. The company had revenue of $205.14 million for the quarter, compared to the consensus estimate of $203.35 million. InnovAge had a negative net margin of 2.79% and a negative return on equity of 7.43%. During the same period in the prior year, the firm posted ($0.08) EPS. InnovAge updated its FY 2025 guidance to EPS.

InnovAge Stock Performance

Shares of INNV stock traded up $0.02 during mid-day trading on Wednesday, hitting $6.09. 42,017 shares of the stock were exchanged, compared to its average volume of 36,935. The stock’s fifty day simple moving average is $5.92 and its two-hundred day simple moving average is $5.36. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.25 and a current ratio of 1.25. InnovAge has a 12-month low of $3.52 and a 12-month high of $6.64. The stock has a market capitalization of $825.17 million, a price-to-earnings ratio of -50.00 and a beta of 0.39.

Wall Street Analysts Forecast Growth

Separately, KeyCorp started coverage on shares of InnovAge in a research note on Friday, October 11th. They issued a “sector weight” rating on the stock.

Insider Activity

In other news, insider Nicole Damato sold 4,372 shares of InnovAge stock in a transaction on Monday, September 16th. The shares were sold at an average price of $5.95, for a total value of $26,013.40. Following the transaction, the insider now directly owns 240,795 shares of the company’s stock, valued at $1,432,730.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.41% of the company’s stock.

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.