William Blair Comments on InnovAge Holding Corp.’s FY2025 Earnings (NASDAQ:INNV)

InnovAge Holding Corp. (NASDAQ:INNV) – Research analysts at William Blair dropped their FY2025 EPS estimates for shares of InnovAge in a research report issued on Tuesday, May 7th. William Blair analyst J. Haase now expects that the company will earn $0.01 per share for the year, down from their previous forecast of $0.04. The consensus estimate for InnovAge’s current full-year earnings is ($0.14) per share.

InnovAge (NASDAQ:INNV) last issued its quarterly earnings data on Monday, February 5th. The company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $188.90 million for the quarter, compared to the consensus estimate of $181.51 million. InnovAge had a negative return on equity of 10.53% and a negative net margin of 4.38%. During the same quarter last year, the company earned ($0.07) earnings per share.

INNV has been the topic of a number of other reports. JPMorgan Chase & Co. cut their price objective on InnovAge from $7.00 to $6.00 and set a “neutral” rating on the stock in a report on Wednesday, March 13th. The Goldman Sachs Group dropped their price objective on shares of InnovAge from $8.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, February 8th.

InnovAge Stock Performance

NASDAQ:INNV opened at $4.26 on Thursday. InnovAge has a 52 week low of $3.52 and a 52 week high of $8.05. The firm has a 50 day moving average of $4.36 and a 200 day moving average of $5.17. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $578.93 million, a price-to-earnings ratio of -17.04 and a beta of 0.24.

Institutional Trading of InnovAge

Large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of InnovAge by 386.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,078 shares of the company’s stock worth $30,000 after buying an additional 4,034 shares in the last quarter. Cambiar Investors LLC boosted its holdings in shares of InnovAge by 10.5% during the 3rd quarter. Cambiar Investors LLC now owns 303,557 shares of the company’s stock worth $1,818,000 after purchasing an additional 28,890 shares during the last quarter. Finally, Kent Lake Capital LLC lifted its position in InnovAge by 20.5% during the third quarter. Kent Lake Capital LLC now owns 1,402,323 shares of the company’s stock worth $8,400,000 after buying an additional 238,551 shares in the last quarter. 12.26% 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. 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.