InnovAge (OTCMKTS:INNV – Get Rating) had its target price lifted by stock analysts at Citigroup from $5.00 to $8.00 in a research report issued on Wednesday, The Fly reports. Citigroup’s target price points to a potential upside of 10.96% from the stock’s current price.
Separately, Barclays reduced their price target on InnovAge from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Thursday, September 15th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $5.98.
InnovAge Stock Up 3.0 %
OTCMKTS:INNV opened at $7.21 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.85 and a quick ratio of 1.85. The firm has a market cap of $977.46 million and a PE ratio of -36.05. The company has a 50-day moving average of $5.64 and a 200 day moving average of $4.96. InnovAge has a 1-year low of $3.39 and a 1-year high of $9.20.
InnovAge (OTCMKTS:INNV – Get Rating) last issued its quarterly earnings data on Tuesday, September 13th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.06). The business had revenue of $172.86 million during the quarter, compared to the consensus estimate of $174.15 million. InnovAge had a negative return on equity of 6.79% and a negative net margin of 3.92%. As a group, research analysts anticipate that InnovAge will post -0.33 EPS for the current fiscal year.
Insider Activity at InnovAge
In other news, Director Thomas Scully bought 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The stock was purchased at an average cost of $5.10 per share, for a total transaction of $510,000.00. Following the purchase, the director now directly owns 100,000 shares in the company, valued at approximately $510,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.25% of the stock is owned by company insiders.
Institutional Trading of InnovAge
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Tcwp LLC purchased a new stake in shares of InnovAge during the first quarter worth about $25,000. Lazard Asset Management LLC acquired a new stake in InnovAge in the 2nd quarter worth about $37,000. Captrust Financial Advisors increased 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 in the last quarter. Martingale Asset Management L P acquired a new position in shares of InnovAge during the second quarter valued at approximately $58,000. Finally, Keebeck Alpha LP purchased a new position in shares of InnovAge in the first quarter valued at approximately $68,000. 12.43% of the stock is currently owned by hedge funds and other 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, 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
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