William Blair Brokers Decrease Earnings Estimates for InnovAge Holding Corp. (NASDAQ:INNV)

InnovAge Holding Corp. (NASDAQ:INNV) – Equities researchers at William Blair lowered their FY2025 EPS estimates for shares of InnovAge in a report issued on Tuesday, May 7th. William Blair analyst J. Haase now expects that the company will earn $0.01 per share for the year, down from their prior estimate of $0.04. The consensus estimate for InnovAge’s current full-year earnings is ($0.14) per share.

A number of other equities research analysts also recently commented on the company. The Goldman Sachs Group decreased their target price on InnovAge from $8.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, February 8th. JPMorgan Chase & Co. decreased their price objective on shares of InnovAge from $7.00 to $6.00 and set a “neutral” rating for the company in a research note on Wednesday, March 13th.

InnovAge Stock Up 1.6 %

InnovAge stock opened at $4.33 on Thursday. The business’s 50-day simple moving average is $4.35 and its two-hundred day simple moving average is $5.16. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.27 and a current ratio of 1.27. The company has a market cap of $588.45 million, a PE ratio of -17.32 and a beta of 0.24. InnovAge has a fifty-two week low of $3.52 and a fifty-two week high of $8.05.

InnovAge (NASDAQ:INNV) last released its earnings results on Monday, February 5th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). InnovAge had a negative return on equity of 10.53% and a negative net margin of 4.38%. The firm had revenue of $188.90 million for the quarter, compared to the consensus estimate of $181.51 million. During the same period in the prior year, the firm earned ($0.07) EPS.

Hedge Funds Weigh In On InnovAge

Several institutional investors and hedge funds have recently modified their holdings of INNV. Allspring Global Investments Holdings LLC grew its holdings in InnovAge by 386.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,078 shares of the company’s stock worth $30,000 after acquiring an additional 4,034 shares during the period. Cambiar Investors LLC lifted its holdings in InnovAge by 10.5% in the third quarter. Cambiar Investors LLC now owns 303,557 shares of the company’s stock valued at $1,818,000 after acquiring an additional 28,890 shares during the period. Finally, Kent Lake Capital LLC boosted its position in InnovAge by 20.5% in the 3rd quarter. Kent Lake Capital LLC now owns 1,402,323 shares of the company’s stock worth $8,400,000 after purchasing an additional 238,551 shares in the last quarter. Institutional investors and hedge funds own 12.26% 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 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.