136,408 Shares in InnovAge Holding Corp. $INNV Bought by Welch Capital Partners LLC NY

Welch Capital Partners LLC NY acquired a new position in shares of InnovAge Holding Corp. (NASDAQ:INNV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 136,408 shares of the company’s stock, valued at approximately $1,616,000. InnovAge makes up about 0.3% of Welch Capital Partners LLC NY’s investment portfolio, making the stock its 12th biggest position.

Other large investors also recently made changes to their positions in the company. Invesco Ltd. bought a new position in InnovAge in the fourth quarter worth approximately $57,000. CIBC Asset Management Inc bought a new stake in shares of InnovAge during the fourth quarter valued at approximately $57,000. Deutsche Bank AG increased its holdings in shares of InnovAge by 15.1% during 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 in the last quarter. Bank of America Corp DE raised its position in shares of InnovAge by 42.4% during the fourth quarter. Bank of America Corp DE now owns 19,945 shares of the company’s stock worth $78,000 after purchasing an additional 5,936 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of InnovAge by 26.0% during the third quarter. JPMorgan Chase & Co. now owns 15,993 shares of the company’s stock worth $83,000 after purchasing an additional 3,305 shares during the period. 12.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

INNV has been the topic of a number of recent research reports. Wall Street Zen cut InnovAge from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Weiss Ratings restated a “sell (d-)” rating on shares of InnovAge in a research note on Thursday, August 13th. Finally, KeyCorp upgraded shares of InnovAge from a “sector weight” rating to an “overweight” rating and set a $13.00 price objective on the stock in a report on Friday. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $10.00.

InnovAge Price Performance

Shares of NASDAQ:INNV opened at $10.96 on Friday. The company has a market capitalization of $1.49 billion, a P/E ratio of -121.78 and a beta of 0.39. The company’s 50-day moving average is $10.96 and its 200 day moving average is $9.06. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.03 and a current ratio of 1.03. InnovAge Holding Corp. has a fifty-two week low of $3.51 and a fifty-two week high of $12.64.

InnovAge 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.