InnovAge Holding Corp. (NASDAQ:INNV – Get Free Report)’s stock price traded down 5.3% during trading on Friday . The company traded as low as $4.96 and last traded at $4.96. 23,578 shares changed hands during mid-day trading, a decline of 15% from the average session volume of 27,675 shares. The stock had previously closed at $5.24.
Wall Street Analysts Forecast Growth
Separately, JPMorgan Chase & Co. lowered their price target on InnovAge from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th.
Read Our Latest Stock Analysis on INNV
InnovAge Price Performance
InnovAge (NASDAQ:INNV – Get Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate of ($0.04). InnovAge had a negative return on equity of 10.51% and a negative net margin of 4.16%. The business had revenue of $193.07 million during the quarter, compared to analysts’ expectations of $188.64 million. Equities research analysts forecast that InnovAge Holding Corp. will post -0.17 earnings per share for the current year.
Institutional Trading of InnovAge
A hedge fund recently raised its stake in InnovAge stock. Vanguard Group Inc. lifted its position in shares of InnovAge Holding Corp. (NASDAQ:INNV – Free Report) by 0.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,842,764 shares of the company’s stock after acquiring an additional 13,193 shares during the quarter. Vanguard Group Inc. owned 1.36% of InnovAge worth $8,182,000 at the end of the most recent quarter. 12.26% of the stock is owned by institutional investors and hedge funds.
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 their 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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