Q1 2022 EPS Estimates for InnovAge Holding Corp. Cut by Analyst (OTCMKTS:INNV)

InnovAge Holding Corp. (OTCMKTS:INNV) – Research analysts at William Blair reduced their Q1 2022 earnings per share (EPS) estimates for shares of InnovAge in a report released on Wednesday, September 22nd. William Blair analyst M. Larew now forecasts that the company will post earnings per share of $0.05 for the quarter, down from their prior estimate of $0.06. William Blair currently has a “Market Perform” rating on the stock. William Blair also issued estimates for InnovAge’s Q2 2022 earnings at $0.05 EPS, Q3 2022 earnings at $0.05 EPS, Q4 2022 earnings at $0.04 EPS, FY2022 earnings at $0.19 EPS and FY2023 earnings at $0.25 EPS.

InnovAge (OTCMKTS:INNV) last released its quarterly earnings data on Monday, September 20th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01).

Several other equities research analysts have also weighed in on the stock. Piper Sandler reiterated an “overweight” rating and set a $20.00 price objective (down previously from $31.00) on shares of InnovAge in a research note on Wednesday. Barclays upgraded shares of InnovAge from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $26.00 to $19.00 in a research report on Thursday, August 12th. The Goldman Sachs Group decreased their target price on shares of InnovAge from $30.00 to $28.00 and set a “buy” rating for the company in a research report on Monday, July 19th. Finally, Cowen initiated coverage on shares of InnovAge in a research report on Thursday, September 9th. They issued a “market perform” rating and a $17.00 target price for the company. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $24.43.

INNV opened at $7.20 on Thursday. InnovAge has a fifty-two week low of $6.55 and a fifty-two week high of $27.18. The company’s 50-day moving average price is $15.11 and its 200 day moving average price is $20.20. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.22.

Several institutional investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in shares of InnovAge by 1,644.4% in the second quarter. Royal Bank of Canada now owns 1,256 shares of the company’s stock valued at $27,000 after acquiring an additional 1,184 shares in the last quarter. Legal & General Group Plc lifted its stake in InnovAge by 144.9% during the second quarter. Legal & General Group Plc now owns 2,420 shares of the company’s stock valued at $52,000 after purchasing an additional 1,432 shares during the last quarter. Ameritas Investment Partners Inc. acquired a new stake in InnovAge during the second quarter valued at approximately $31,000. Neuberger Berman Group LLC lifted its stake in InnovAge by 11.0% during the second quarter. Neuberger Berman Group LLC now owns 24,600 shares of the company’s stock valued at $502,000 after purchasing an additional 2,433 shares during the last quarter. Finally, Morgan Stanley acquired a new stake in InnovAge during the first quarter valued at approximately $64,000. Institutional investors and hedge funds own 14.73% of the company’s stock.

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, dental, mental health and psychiatric, meals, and activities, as well as physical, occupational, and speech therapy; transportation to the PACE center and third-party medical appointments; and care management.

See Also: How to Trade Using Analysts Ratings

Earnings History and Estimates for InnovAge (OTCMKTS:INNV)

Receive News & Ratings for InnovAge Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for InnovAge and related companies with MarketBeat.com's FREE daily email newsletter.