InnovAge (NASDAQ:INNV) Posts Earnings Results

InnovAge (NASDAQ:INNV) released its earnings results on Tuesday. The company reported ($0.10) earnings per share for the quarter, Zacks reports. InnovAge had a negative net margin of 2.03% and a negative return on equity of 5.68%.

InnovAge Trading Up 4.5 %

NASDAQ INNV traded up $0.16 on Tuesday, reaching $3.69. 63,004 shares of the company were exchanged, compared to its average volume of 57,832. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 0.27. The business’s fifty day moving average price is $4.09 and its 200 day moving average price is $5.26. The stock has a market capitalization of $499.85 million, a P/E ratio of -30.75 and a beta of 0.37. InnovAge has a fifty-two week low of $3.49 and a fifty-two week high of $6.69.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on INNV shares. KeyCorp began coverage on InnovAge in a report on Friday, October 11th. They issued a “sector weight” rating on the stock. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $5.00 price target on shares of InnovAge in a research note on Tuesday, December 17th.

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.