InnovAge (OTCMKTS:INNV) Releases Q4 2021 Earnings Guidance

InnovAge (OTCMKTS:INNV) issued an update on its fourth quarter 2021 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $- for the period. The company issued revenue guidance of $160 million-162 million, compared to the consensus revenue estimate of $160.53 million.

OTCMKTS INNV traded up $0.49 during trading hours on Friday, hitting $20.98. The company had a trading volume of 333,662 shares, compared to its average volume of 270,416. InnovAge has a fifty-two week low of $19.46 and a fifty-two week high of $27.18. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.22. The business’s 50 day moving average is $23.08.

InnovAge (OTCMKTS:INNV) last announced its quarterly earnings results on Sunday, May 9th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.08). On average, sell-side analysts forecast that InnovAge will post -0.33 EPS for the current fiscal year.

Several equities analysts have recently commented on the stock. Robert W. Baird assumed coverage on shares of InnovAge in a research report on Thursday, May 27th. They set an outperform rating and a $27.00 price target on the stock. The Goldman Sachs Group started coverage on shares of InnovAge in a report on Monday, March 29th. They issued a buy rating and a $32.00 target price on the stock. Barclays started coverage on shares of InnovAge in a report on Monday, March 29th. They issued an equal weight rating and a $26.00 target price on the stock. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell started coverage on shares of InnovAge in a report on Monday, March 29th. They issued a buy rating and a $30.00 target price on the stock. Finally, Piper Sandler started coverage on shares of InnovAge in a report on Monday, March 29th. They issued an overweight rating and a $31.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $29.33.

A hedge fund recently bought a new stake in InnovAge stock. Morgan Stanley acquired a new stake in shares of InnovAge Holding Corp. (OTCMKTS:INNV) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,500 shares of the company’s stock, valued at approximately $64,000. Institutional investors and hedge funds own 13.67% of the company’s stock.

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, 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.

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Earnings History and Estimates for InnovAge (OTCMKTS:INNV)

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