INNV has been the subject of several other research reports. Barclays cut InnovAge from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $22.00 to $6.50 in a research note on Thursday, December 23rd. Zacks Investment Research upgraded InnovAge from a “sell” rating to a “hold” rating in a report on Wednesday, February 16th. Finally, The Goldman Sachs Group lowered InnovAge from a “buy” rating to a “neutral” rating and cut their price target for the stock from $15.00 to $4.00 in a report on Monday, December 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $10.93.
Shares of OTCMKTS INNV opened at $6.59 on Wednesday. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.23. The firm’s 50-day simple moving average is $5.50 and its 200 day simple moving average is $6.17. InnovAge has a fifty-two week low of $3.46 and a fifty-two week high of $26.44. The stock has a market cap of $893.06 million and a P/E ratio of 219.67.
Several hedge funds have recently made changes to their positions in INNV. Royal Bank of Canada increased its holdings in InnovAge by 1,644.4% during the second quarter. Royal Bank of Canada now owns 1,256 shares of the company’s stock worth $27,000 after buying an additional 1,184 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of InnovAge in the fourth quarter valued at about $37,000. Morgan Stanley bought a new stake in InnovAge during the first quarter worth about $64,000. Jane Street Group LLC bought a new stake in InnovAge during the third quarter worth about $68,000. Finally, UBS Group AG lifted its position in InnovAge by 5,126.1% during the third quarter. UBS Group AG now owns 11,027 shares of the company’s stock worth $73,000 after purchasing an additional 10,816 shares during the period. 10.78% of the stock is currently owned by institutional investors and hedge funds.
About InnovAge (Get Rating)
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. It manages its business through Program of All-Inclusive Care for the Elderly (PACE) approach. The company 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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