InnovAge (NASDAQ:INNV) Posts Quarterly Earnings Results, Meets Estimates

InnovAge (NASDAQ:INNV) posted its quarterly earnings results on Tuesday. The company reported ($0.04) EPS for the quarter, meeting the consensus estimate 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 analysts’ expectations of $203.35 million. During the same quarter last year, the firm earned ($0.08) earnings per share. InnovAge updated its FY 2025 guidance to EPS.

InnovAge Trading Up 0.3 %

Shares of NASDAQ:INNV traded up $0.02 during midday trading on Wednesday, reaching $6.09. 42,017 shares of the company’s stock were exchanged, compared to its average volume of 36,935. The firm’s 50 day simple moving average is $5.92 and its two-hundred day simple moving average is $5.36. InnovAge has a fifty-two week low of $3.52 and a fifty-two week high of $6.64. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a market cap of $825.17 million, a price-to-earnings ratio of -50.00 and a beta of 0.39.

Insider Transactions at InnovAge

In other InnovAge news, insider Nicole Damato sold 4,372 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $5.95, for a total value of $26,013.40. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

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

About InnovAge

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.