InnovAge (NASDAQ:INNV) Releases Quarterly Earnings Results, Meets Expectations

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

InnovAge Stock Down 3.2 %

NASDAQ INNV traded down $0.20 on Thursday, hitting $6.10. 14,839 shares of the stock traded hands, compared to its average volume of 37,031. The company has a market capitalization of $826.55 million, a P/E ratio of -39.38 and a beta of 0.39. The stock has a 50-day moving average of $5.93 and a 200 day moving average of $5.37. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.27. InnovAge has a twelve month low of $3.52 and a twelve month high of $6.69.

Insider Activity

In other InnovAge news, insider Nicole Damato sold 4,372 shares of InnovAge stock in a transaction on Monday, September 16th. The shares were sold at an average price of $5.95, for a total value of $26,013.40. Following the completion of the transaction, the insider now owns 240,795 shares of the company’s stock, valued at $1,432,730.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.