InnovAge (NASDAQ:INNV) Shares Gap Up Following Analyst Upgrade

InnovAge Holding Corp. (NASDAQ:INNV)’s share price gapped up before the market opened on Wednesday after KeyCorp raised their price target on the stock from $13.00 to $14.00. The stock had previously closed at $10.52, but opened at $11.70. KeyCorp currently has an overweight rating on the stock. InnovAge shares last traded at $11.4080, with a volume of 186,959 shares.

Several other equities analysts have also issued reports on the company. Wall Street Zen lowered InnovAge from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of InnovAge in a research report on Thursday, August 13th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, InnovAge currently has an average rating of “Reduce” and an average target price of $10.50.

Key Headlines Impacting InnovAge

Here are the key news stories impacting InnovAge this week:

• Positive Sentiment: InnovAge forecast fiscal 2027 revenue of approximately $1.05 billion to $1.085 billion and adjusted EBITDA of $105 million to $115 million. The company also expects census growth of 5% to 7.5%, signaling continued expansion of its senior-care business. Fiscal 2027 guidance
• Positive Sentiment: Fiscal fourth-quarter revenue reached $261.95 million, exceeding the analyst estimate of $238.33 million. The revenue beat suggests solid operating momentum despite profitability challenges. InnovAge quarterly results
• Neutral Sentiment: Management highlighted growth milestones and a stronger operational foundation as it begins a new phase of expansion. Investors will likely focus on whether the company can convert that growth into consistent profitability. InnovAge growth milestones
• Negative Sentiment: InnovAge reported fiscal fourth-quarter EPS of $0.06, below estimates ranging from $0.07 to $0.09. The company also posted a negative net margin and negative return on equity, underscoring ongoing profitability risks. InnovAge EPS miss

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. increased its stake in InnovAge by 10.3% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 6,168,330 shares of the company’s stock valued at $32,014,000 after buying an additional 577,558 shares during the last quarter. Kent Lake PR LLC grew its holdings in shares of InnovAge by 13.1% in the 2nd quarter. Kent Lake PR LLC now owns 1,697,036 shares of the company’s stock valued at $6,262,000 after acquiring an additional 197,036 shares in the last quarter. BlackRock Inc. acquired a new stake in shares of InnovAge in the second quarter valued at about $17,652,000. Vanguard Group Inc. increased its position in shares of InnovAge by 0.4% in the third quarter. Vanguard Group Inc. now owns 1,124,321 shares of the company’s stock valued at $5,801,000 after acquiring an additional 4,239 shares during the last quarter. Finally, Algert Global LLC raised its holdings in InnovAge by 844.1% during the second quarter. Algert Global LLC now owns 630,520 shares of the company’s stock worth $7,472,000 after acquiring an additional 563,735 shares in the last quarter. Institutional investors and hedge funds own 12.26% of the company’s stock.

InnovAge Stock Up 9.5%

The firm has a 50-day moving average of $11.20 and a 200 day moving average of $9.32. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of -127.67 and a beta of 0.40.

InnovAge (NASDAQ:INNV) last announced its quarterly earnings results on Tuesday, September 8th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). InnovAge had a negative net margin of 1.22% and a negative return on equity of 4.73%. The firm had revenue of $261.95 million during the quarter, compared to analyst estimates of $238.33 million.

About InnovAge

InnovAge Holdings, Inc (NASDAQ:INNV) is a healthcare services company that specializes in caring for seniors through the Program of All-Inclusive Care for the Elderly (PACE). Designed for individuals who are eligible for both Medicare and Medicaid, the PACE model integrates medical care, social services and long-term care—delivered primarily in participants’ homes and community-based centers. InnovAge’s approach centers on interdisciplinary care teams that coordinate everything from primary and specialty medical services to nutritional counseling and recreational activities.

The company’s core offerings include comprehensive in-home assessments, physician and nursing services, physical and occupational therapy, prescription medication management, and transportation to medical appointments.