Strs Ohio increased its position in InnovAge Holding Corp. (OTCMKTS:INNV – Get Rating) by 29.9% in the third quarter, HoldingsChannel reports. The firm owned 66,400 shares of the company’s stock after acquiring an additional 15,300 shares during the period. Strs Ohio’s holdings in InnovAge were worth $390,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. acquired a new stake in shares of InnovAge during the 2nd quarter valued at $492,000. Renaissance Technologies LLC boosted its stake in shares of InnovAge by 58.3% during the 2nd quarter. Renaissance Technologies LLC now owns 123,800 shares of the company’s stock valued at $542,000 after buying an additional 45,600 shares during the period. Rhumbline Advisers boosted its stake in shares of InnovAge by 79.7% during the 2nd quarter. Rhumbline Advisers now owns 27,237 shares of the company’s stock valued at $119,000 after buying an additional 12,080 shares during the period. Martingale Asset Management L P acquired a new stake in shares of InnovAge during the 2nd quarter valued at $58,000. Finally, Lazard Asset Management LLC acquired a new stake in shares of InnovAge during the 2nd quarter valued at $37,000. Institutional investors and hedge funds own 12.44% of the company’s stock.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on INNV shares. The Goldman Sachs Group lifted their target price on shares of InnovAge from $6.00 to $8.00 and gave the company a “neutral” rating in a research note on Wednesday, November 23rd. Citigroup increased their target price on shares of InnovAge from $5.00 to $8.00 in a research report on Wednesday, November 16th.
InnovAge Stock Performance
InnovAge (OTCMKTS:INNV – Get Rating) last issued its quarterly earnings data on Tuesday, November 8th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). The company had revenue of $171.22 million for the quarter, compared to analyst estimates of $173.04 million. InnovAge had a negative net margin of 3.92% and a negative return on equity of 6.79%. As a group, equities research analysts expect that InnovAge Holding Corp. will post -0.33 earnings per share for the current fiscal year.
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.
- Get a free copy of the StockNews.com research report on InnovAge (INNV)
- Exxon Mobil Stock: Within Striking Distance Of Buy Point
- High-Dividend-Yielding BHP Sees China Driving ’23 Growth
- Is Airbnb Setting Up To Rally 38%, As Analysts Are Forecasting?
- Does a Price Cut for Tesla Vehicles Mean the Same for TSLA Stock?
- Microsoft Layoffs Signal Layoffs for Other Tech Companies?
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.