Key Points
- COO Michael Anthony Scarbrough sold 33,000 INNV shares on Nov. 14 at an average price of $4.90 for $161,700, cutting his stake by 21.62% to 119,617 shares, according to an SEC filing.
- InnovAge beat quarterly estimates (EPS $0.06 vs. $0.01 expected; revenue $236.1M vs. $226.6M) but remains unprofitable (net margin -1.96%, ROE -7.02%), and the stock carries a consensus "Sell" rating with an average price target of $5.00.
InnovAge Holding Corp. (NASDAQ:INNV - Get Free Report) COO Michael Anthony Scarbrough sold 33,000 shares of the business's stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $4.90, for a total transaction of $161,700.00. Following the completion of the transaction, the chief operating officer owned 119,617 shares of the company's stock, valued at $586,123.30. The trade was a 21.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
InnovAge Trading Up 2.7%
Shares of INNV stock opened at $4.97 on Tuesday. InnovAge Holding Corp. has a fifty-two week low of $2.60 and a fifty-two week high of $6.26. The stock's fifty day moving average price is $5.05 and its two-hundred day moving average price is $4.25. 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 has a market cap of $674.33 million, a PE ratio of -38.23 and a beta of 0.59.
InnovAge (NASDAQ:INNV - Get Free Report) last posted its earnings results on Tuesday, November 4th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates 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 firm 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. Equities analysts predict that InnovAge Holding Corp. will post -0.12 EPS for the current fiscal year.
Hedge Funds Weigh In On InnovAge
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE boosted its holdings in InnovAge by 42.4% in the fourth quarter. Bank of America Corp DE now owns 19,945 shares of the company's stock valued at $78,000 after acquiring an additional 5,936 shares during the last quarter. Welch Capital Partners LLC NY raised its holdings in InnovAge by 8.4% during the 1st quarter. Welch Capital Partners LLC NY now owns 365,907 shares of the company's stock worth $1,090,000 after purchasing an additional 28,349 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of InnovAge by 2.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 164,322 shares of the company's stock worth $490,000 after purchasing an additional 4,535 shares during the period. Nuveen LLC bought a new stake in shares of InnovAge in the 1st quarter valued at $159,000. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of 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 buying an additional 222,155 shares during the period. 12.26% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research firms have recently weighed in on INNV. Wall Street Zen upgraded InnovAge to a "strong-buy" rating in a report on Saturday, November 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of InnovAge in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. initiated coverage on shares of InnovAge in a report on Thursday, September 18th. They set an "underweight" rating and a $5.00 target price on the stock. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, InnovAge has a consensus rating of "Sell" and an average price target of $5.00.
Check Out Our Latest Stock Analysis on INNV
InnovAge Company Profile
(
Get Free Report)
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.
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