InnovAge (NASDAQ:INNV) Releases Earnings Results

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

InnovAge Trading Down 1.2 %

NASDAQ INNV traded down $0.07 on Wednesday, hitting $6.00. The company’s stock had a trading volume of 36,984 shares, compared to its average volume of 36,897. The company’s 50-day simple moving average is $5.92 and its 200 day simple moving average is $5.36. InnovAge has a 52-week low of $3.52 and a 52-week high of $6.69. The firm has a market cap of $812.98 million, a P/E ratio of -51.50 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 Ratings Changes

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

Insiders Place Their Bets

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 transaction, the insider now directly 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 legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.41% of the company’s stock.

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.