InnovAge (NASDAQ:INNV) Posts Quarterly Earnings Results, Hits Expectations

InnovAge (NASDAQ:INNVGet Free Report) released its earnings results on Tuesday. The company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04), Zacks reports. The business had revenue of $205.14 million during the quarter, compared to analysts’ expectations 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 period last year, the business earned ($0.08) earnings per share. InnovAge updated its FY 2025 guidance to EPS.

InnovAge Stock Performance

Shares of NASDAQ:INNV traded down $0.07 during trading on Wednesday, reaching $6.00. 36,984 shares of the stock were exchanged, compared to its average volume of 36,897. The firm has a market cap of $812.98 million, a PE ratio of -51.50 and a beta of 0.39. The stock has a 50-day moving average price of $5.92 and a 200-day moving average price of $5.36. 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 12 month low of $3.52 and a 12 month high of $6.69.

Analyst Upgrades and Downgrades

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

View Our Latest Stock Analysis on InnovAge

Insider Activity at InnovAge

In other news, insider Nicole Damato sold 4,372 shares of the business’s stock in a transaction dated 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 sale, the insider now owns 240,795 shares of the company’s stock, valued at approximately $1,432,730.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.41% of the stock is currently owned by corporate insiders.

InnovAge Company Profile

(Get Free Report)

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.

Recommended Stories

Earnings History for InnovAge (NASDAQ:INNV)

Receive News & Ratings for InnovAge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InnovAge and related companies with MarketBeat.com's FREE daily email newsletter.