PFM Health Sciences LP Purchases Shares of 429,699 InnovAge Holding Corp. (OTCMKTS:INNV)

PFM Health Sciences LP purchased a new stake in shares of InnovAge Holding Corp. (OTCMKTS:INNV) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 429,699 shares of the company’s stock, valued at approximately $11,082,000.

Other large investors have also recently modified their holdings of the company. Maverick Capital Ltd. purchased a new position in InnovAge during the first quarter valued at approximately $22,142,000. Davidson Kempner Capital Management LP purchased a new position in InnovAge during the first quarter valued at approximately $3,534,000. TD Asset Management Inc. purchased a new position in InnovAge during the first quarter valued at approximately $1,146,000. Sivik Global Healthcare LLC purchased a new position in InnovAge during the first quarter valued at approximately $2,192,000. Finally, Pura Vida Investments LLC bought a new stake in shares of InnovAge during the first quarter valued at approximately $6,479,000. 14.04% of the stock is currently owned by institutional investors and hedge funds.

INNV has been the topic of several recent analyst reports. Robert W. Baird initiated coverage on shares of InnovAge in a research report on Thursday, May 27th. They set an “outperform” rating and a $27.00 price objective on the stock. Barclays initiated coverage on shares of InnovAge in a research report on Monday, March 29th. They set an “equal weight” rating and a $26.00 price objective on the stock. Citigroup started coverage on shares of InnovAge in a research report on Monday, March 29th. They set a “buy” rating and a $30.00 price objective on the stock. Piper Sandler started coverage on shares of InnovAge in a research report on Monday, March 29th. They issued an “overweight” rating and a $31.00 price target on the stock. Finally, started coverage on shares of InnovAge in a research report on Monday, March 29th. They issued a “buy” rating and a $30.00 price target on the stock. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. InnovAge presently has an average rating of “Buy” and an average target price of $28.67.

INNV traded down $0.12 during trading hours on Thursday, hitting $17.25. The company’s stock had a trading volume of 106,060 shares, compared to its average volume of 367,034. The firm has a 50-day moving average of $20.83. InnovAge Holding Corp. has a 12 month low of $16.76 and a 12 month high of $27.18. The company has a debt-to-equity ratio of 0.22, a quick ratio of 2.68 and a current ratio of 2.68.

InnovAge (OTCMKTS:INNV) last posted its quarterly earnings data on Sunday, May 9th. The company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.08). The business had revenue of $156.31 million for the quarter, compared to analyst estimates of $157.74 million. As a group, research analysts forecast that InnovAge Holding Corp. will post -0.33 earnings per share for the current year.

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.

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Institutional Ownership by Quarter for InnovAge (OTCMKTS:INNV)

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