InnovAge (NASDAQ:INNV) Posts Quarterly Earnings Results, Hits Estimates

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

InnovAge Trading Up 0.7 %

INNV stock traded up $0.04 during trading on Friday, hitting $6.10. The company had a trading volume of 17,106 shares, compared to its average volume of 37,092. The business has a 50-day moving average of $5.92 and a 200-day moving average of $5.37. InnovAge has a one year low of $3.52 and a one year high of $6.69. The stock has a market cap of $826.55 million, a PE ratio of -37.88 and a beta of 0.39. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.27.

Analyst Upgrades and Downgrades

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

Insider Activity at InnovAge

In other news, insider Nicole Damato sold 4,372 shares of the firm’s stock in a transaction that occurred on 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 $1,432,730.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 1.40% of the stock is currently owned by company insiders.

About InnovAge

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.