InnovAge (OTCMKTS:INNV) Releases Q4 2021 Earnings Guidance

InnovAge (OTCMKTS:INNV) updated its fourth quarter 2021 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $- for the period. The company issued revenue guidance of $160 million-162 million, compared to the consensus revenue estimate of $160.53 million.

A number of brokerages have recently weighed in on INNV. Barclays assumed coverage on InnovAge in a report on Monday, March 29th. They issued an equal weight rating and a $26.00 price objective on the stock. The Goldman Sachs Group assumed coverage on InnovAge in a report on Monday, March 29th. They set a buy rating and a $32.00 target price on the stock. Robert W. Baird assumed coverage on InnovAge in a report on Thursday, May 27th. They set an outperform rating and a $27.00 target price on the stock. Piper Sandler assumed coverage on InnovAge in a report on Monday, March 29th. They set an overweight rating and a $31.00 target price on the stock. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell assumed coverage on InnovAge in a report on Monday, March 29th. They set a buy rating and a $30.00 target price on the stock. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $29.33.

INNV stock traded up $0.49 during midday trading on Friday, hitting $20.98. 333,662 shares of the company’s stock were exchanged, compared to its average volume of 270,416. The company’s 50-day simple moving average is $23.08. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.22. InnovAge has a 1-year low of $19.46 and a 1-year high of $27.18.

InnovAge (OTCMKTS:INNV) last posted its earnings results on Sunday, May 9th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.08). As a group, sell-side analysts anticipate that InnovAge will post -0.33 EPS for the current year.

A hedge fund recently bought a new stake in InnovAge stock. Morgan Stanley bought a new stake in InnovAge Holding Corp. (OTCMKTS:INNV) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,500 shares of the company’s stock, valued at approximately $64,000. 13.67% of the stock is owned by institutional investors.

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 their homes and communities. It manages its business through Program of All-Inclusive Care for the Elderly (PACE) approach. The company offers in-home care services consisting of skilled, unskilled, and personal care; in-center services, such as primary care, dental, mental health and psychiatric, meals, and activities, as well as physical, occupational, and speech therapy; transportation to the PACE center and third-party medical appointments; and care management.

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Earnings History and Estimates for InnovAge (OTCMKTS:INNV)

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