InnovAge (INNV) Stock Price, News & Analysis

Company Overview

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. The company serves participants in the United States; and operates PACE centers in Colorado, California, New Mexico, Pennsylvania, Florida, and Virginia. The company was formerly known as TCO Group Holdings, Inc. and changed its name to InnovAge Holding Corp. in January 2021. InnovAge Holding Corp. was founded in 2007 and is headquartered in Denver, Colorado.

Key Stats

• Today's Range: $4.05 to $4.47
• 50-Day Range: $4.40 to $6.30
• 52-Week Range: $3.52 to $6.69
• Volume: 95,424 shs
• Average Volume: 38,849 shs
• Market Capitalization: $552.66 million
• P/E Ratio: N/A
• Dividend Yield: N/A
• Price Target: $6.00
• Consensus Rating: Reduce

InnovAge Stock Analysis - MarketRank™

InnovAge scored higher than 29% of companies evaluated by MarketBeat, and ranked 828th out of 950 stocks in the medical sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 2.8 / 5
• Analyst Rating: Reduce

Consensus Rating

InnovAge has received a consensus rating of Reduce. The company's average rating score is 1.67, and is based on no buy ratings, 2 hold ratings, and 1 sell rating.

Amount of Analyst Coverage

InnovAge has only been the subject of 2 research reports in the past 90 days.

Earnings and Valuation

• Score: 0.6 / 5
• Proj. Earnings Growth: Growing

Earnings Growth

Earnings for InnovAge are expected to grow in the coming year, from ($0.06) to $0.06 per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of InnovAge is -34.00, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Earnings Ratio vs. Sector

The P/E ratio of InnovAge is -34.00, which means that its earnings are negative and its P/E ratio cannot be compared to companies with positive earnings.

Price to Book Value per Share Ratio

InnovAge has a P/B Ratio of 2.00. P/B Ratios below 3 indicates that a company is reasonably valued with respect to its assets and liabilities.

Short Interest

• Score: 2.0 / 5
• Short Interest Level: Bearish

Percentage of Shares Shorted

1.48% of the float of InnovAge has been sold short.

Short Interest Ratio / Days to Cover

InnovAge has a short interest ratio ("days to cover") of 7.5.

Change versus previous month

Short interest in InnovAge has recently increased by 2.04%, indicating that investor sentiment is decreasing.

Dividend

• Score: 0.0 / 5
• Dividend Strength: N/A

Dividend Yield

InnovAge does not currently pay a dividend.

Dividend Growth

InnovAge does not have a long track record of dividend growth.

Sustainability and ESG

• Score: N/A
• Environmental Score: N/A

Percentage of Shares Shorted

1.48% of the float of InnovAge has been sold short.

Short Interest Ratio / Days to Cover

InnovAge has a short interest ratio ("days to cover") of 7.5.

Change versus previous month

Short interest in InnovAge has recently increased by 2.04%, indicating that investor sentiment is decreasing.

News and Social Media

• Score: 2.7 / 5
• News Sentiment: 0.86

News Sentiment

InnovAge has a news sentiment score of 0.86. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.71 average news sentiment score of Medical companies.

News Coverage This Week

MarketBeat has tracked 4 news articles for InnovAge this week, compared to 2 articles on an average week.

Company Ownership

• Score: 0.0 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, InnovAge insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 1.40% of the stock of InnovAge is held by insiders.

Percentage Held by Institutions

Only 12.26% of the stock of InnovAge is held by institutions.

INNV Stock Analysis - Frequently Asked Questions

How have INNV shares performed this year?

InnovAge's stock was trading at $6.00 on January 1st, 2024. Since then, INNV stock has decreased by 32.0% and is now trading at $4.08.
View the best growth stocks for 2024 here.

How were InnovAge's earnings last quarter?

InnovAge Holding Corp. (NASDAQ:INNV) announced its quarterly earnings data on Tuesday, November, 5th. The company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). The business earned $205.14 million during the quarter, compared to the consensus estimate of $203.35 million. InnovAge had a negative trailing twelve-month return on equity of 5.68% and a negative net margin of 2.03%.

When did InnovAge IPO?

InnovAge (INNV) raised $301 million in an initial public offering on Thursday, March 4th 2021. The company issued 16,700,000 shares at $17.00-$19.00 per share. J.P. Morgan, Barclays, Goldman Sachs and Citigroup served as the underwriters for the IPO and Baird, William Blair, Piper Sandler, Capital One Securities, Loop Capital Markets, Siebert Williams Shank and Roberts & Ryan were co-managers.

Who are InnovAge's major shareholders?

Top institutional shareholders of InnovAge include Geode Capital Management LLC (0.39%), State Street Corp (0.25%), Charles Schwab Investment Management Inc. (0.12%) and Barclays PLC (0.02%).
View institutional ownership trends.

How do I buy shares of InnovAge?

Shares of INNV stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of InnovAge own?

Based on aggregate information from My MarketBeat watchlists, some other companies that InnovAge investors own include Tesla (TSLA), JPMorgan Chase & Co. (JPM), Advanced Micro Devices (AMD), NVIDIA (NVDA), Meta Platforms (META), Netflix (NFLX) and Home Depot (HD).

Company Calendar

• Last Earnings: 11/05/2024
• Today: 12/18/2024
• Fiscal Year End: 6/30/2025

Industry, Sector and Symbol

• Stock Exchange: NASDAQ
• Sector: Medical
• Industry: Health services
• Sub-Industry: Healthcare
• Current Symbol: NASDAQ:INNV
• CUSIP: N/A
• CIK: 1834376
• Web: www.innovage.com
• Phone: 844-803-8745
• Fax: N/A
• Employees: 2,350
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $6.00
• High Stock Price Target: $7.00
• Low Stock Price Target: $5.00
• Potential Upside/Downside: +47.1%
• Consensus Rating: Reduce
• Rating Score (0-4): 1.67
• Research Coverage: 3 Analysts

Profitability

• EPS (Most Recent Fiscal Year): ($0.12)
• Trailing P/E Ratio: N/A
• Forward P/E Ratio: N/A
• P/E Growth: N/A
• Net Income: $-21,340,000.00
• Net Margins: -2.03%
• Pretax Margin: -2.08%
• Return on Equity: -5.68%
• Return on Assets: -2.99%

Debt

• Debt-to-Equity Ratio: 0.27
• Current Ratio: 1.21
• Quick Ratio: 1.21

Sales & Book Value

• Annual Sales: $786.51 million
• Price / Sales: 0.70
• Cash Flow: N/A
• Price / Cash Flow: N/A
• Book Value: $2.04 per share
• Price / Book: 2.00

Miscellaneous

• Outstanding Shares: 135,455,000
• Free Float: 133,559,000
• Market Cap: $552.66 million
• Optionable: Optionable
• Beta: 0.31