Strs Ohio raised its position in shares of InnovAge Holding Corp. (OTCMKTS:INNV – Get Rating) by 29.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,400 shares of the company’s stock after buying an additional 15,300 shares during the period. Strs Ohio’s holdings in InnovAge were worth $390,000 as of its most recent filing with the Securities & Exchange Commission.
→ The U.S. Solution to China’s Copper Grab (From Investing Trends)
Other hedge funds have also recently bought and sold shares of the company. Captrust Financial Advisors grew its stake in InnovAge by 4,122.1% during the 1st quarter. Captrust Financial Advisors now owns 5,742 shares of the company’s stock worth $37,000 after buying an additional 5,606 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in InnovAge in the second quarter valued at $37,000. Martingale Asset Management L P acquired a new stake in InnovAge in the 2nd quarter valued at about $58,000. Millennium Management LLC acquired a new stake in InnovAge in the 2nd quarter valued at about $103,000. Finally, Goldman Sachs Group Inc. grew its stake in InnovAge by 96.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 26,244 shares of the company’s stock valued at $115,000 after acquiring an additional 12,864 shares during the last quarter. Institutional investors and hedge funds own 12.44% of the company’s stock.
Analyst Ratings Changes
Several research firms have issued reports on INNV. Citigroup raised their price target on shares of InnovAge from $5.00 to $8.00 in a research note on Wednesday, November 16th. The Goldman Sachs Group raised their price target on shares of InnovAge from $6.00 to $8.00 and gave the company a “neutral” rating in a report on Wednesday, November 23rd.
InnovAge Stock Performance
Shares of OTCMKTS INNV opened at $7.20 on Friday. The firm’s 50-day moving average price is $7.14 and its two-hundred day moving average price is $5.69. InnovAge Holding Corp. has a 52-week low of $3.39 and a 52-week high of $7.85. The stock has a market capitalization of $976.10 million, a P/E ratio of -36.00 and a beta of -0.06. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.23.
InnovAge (OTCMKTS:INNV – Get Rating) last announced its quarterly earnings results on Tuesday, November 8th. The company reported ($0.10) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.06). InnovAge had a negative net margin of 3.92% and a negative return on equity of 6.79%. The firm had revenue of $171.22 million during the quarter, compared to analyst estimates of $173.04 million. As a group, sell-side analysts forecast that InnovAge Holding Corp. will post -0.33 earnings per share for the current year.
InnovAge Company Profile
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, 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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider InnovAge, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and InnovAge wasn’t on the list.
While InnovAge currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
Source: news.google.com
