InnovAge (NASDAQ:INNV) Announces Quarterly Earnings Results

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

InnovAge Stock Down 3.8 %

INNV stock traded down $0.24 during midday trading on Thursday, hitting $6.06. The company’s stock had a trading volume of 47,947 shares, compared to its average volume of 37,184. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.25 and a quick ratio of 1.25. InnovAge has a twelve month low of $3.52 and a twelve month high of $6.69. The company’s fifty day moving average price is $5.93 and its 200 day moving average price is $5.37. The stock has a market capitalization of $821.13 million, a P/E ratio of -39.38 and a beta of 0.39.

Analyst Upgrades and Downgrades

Separately, KeyCorp assumed coverage on shares of InnovAge in a research report on Friday, October 11th. They issued a “sector weight” rating for the company.

Insider Transactions at InnovAge

In related news, insider Nicole Damato sold 4,372 shares of InnovAge stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $5.95, for a total transaction of $26,013.40. Following the completion of the sale, the insider now owns 240,795 shares of the company’s stock, valued at approximately $1,432,730.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.40% of the stock is owned by company insiders.

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.