InnovAge (NASDAQ:INNV) Issues Earnings Results

InnovAge (NASDAQ:INNV) released its quarterly earnings data on Tuesday. The company reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.28), Zacks reports. InnovAge had a net margin of 0.71% and a return on equity of 2.60%.

Here are the key takeaways from InnovAge’s conference call:

• Management raised full‑year fiscal 2026 guidance to $950M–$975M in revenue and $85M–$90M in adjusted EBITDA, citing year‑to‑date operating trends.
• Q3 results showed continued operational momentum with ~8,050 participants, total revenue of ~$251.9M, center‑level contribution margin of $61M (24.2% of revenue) and adjusted EBITDA of $30.5M.
• Management flagged potential FY2027 rate pressure: they expect Medicare rates to rise ~1.5%–2% and noted early indications that Medicaid rate increases from states may be lower than prior years.
• Corporate G&A jumped ~98% year‑over‑year driven primarily by increased litigation liability, contributing to a wider net loss of $29.9M for the quarter.
• Company is reinvesting improved cash flow into clinical teams, technology and AI pilots (care‑planning, scheduling, transportation) and pursuing M&A/partnerships and program expansions to drive longer‑term growth.

InnovAge Price Performance

Shares of NASDAQ:INNV traded down $0.21 during trading on Tuesday, reaching $7.96. The stock had a trading volume of 274,475 shares, compared to its average volume of 216,425. InnovAge has a 52 week low of $2.84 and a 52 week high of $10.69. The business’s 50-day moving average price is $8.35 and its 200 day moving average price is $6.67. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.26 and a quick ratio of 1.26. The stock has a market capitalization of $1.08 billion, a PE ratio of 159.23 and a beta of 0.49.

Analyst Ratings Changes

A number of equities research analysts have weighed in on INNV shares. Weiss Ratings raised InnovAge from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, February 5th. Zacks Research downgraded InnovAge from a “strong-buy” rating to a “hold” rating in a report on Friday, April 24th. Finally, JPMorgan Chase & Co. lifted their price objective on InnovAge from $5.00 to $7.00 and gave the company an “underweight” rating in a report on Monday, February 23rd. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, InnovAge currently has an average rating of “Reduce” and a consensus target price of $7.00.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. CIBC Asset Management Inc bought a new position in shares of InnovAge in the fourth quarter valued at approximately $57,000. Invesco Ltd. bought a new position in shares of InnovAge in the fourth quarter valued at approximately $57,000. Deutsche Bank AG raised its stake in shares of InnovAge by 15.1% in the fourth quarter. Deutsche Bank AG now owns 12,775 shares of the company’s stock valued at $66,000 after acquiring an additional 1,679 shares during the last quarter. Bank of America Corp DE raised its stake in shares of InnovAge by 42.4% in the fourth quarter. Bank of America Corp DE now owns 19,945 shares of the company’s stock valued at $78,000 after acquiring an additional 5,936 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of InnovAge by 26.0% in the third quarter. JPMorgan Chase & Co. now owns 15,993 shares of the company’s stock valued at $83,000 after acquiring an additional 3,305 shares during the last quarter. Institutional investors own 12.26% of the company’s stock.

InnovAge Company Profile

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.