INNOVAGE HOLDING CORP (INNV)
Health Care · Medicare/Medicaid managed care and integrated elderly care services · NASDAQ
InnovAge operates integrated primary care and chronic disease management centers under the PACE model for frail elderly populations, earning capitated fees from government payors.
What INNOVAGE HOLDING CORP does
InnovAge Holding Corp. operates the Program of All-Inclusive Care for the Elderly (PACE), a Medicare and Medicaid-funded managed care program that delivers integrated primary care, specialty care, hospital and nursing facility services, and social support to frail elderly participants. The company operates adult day centers and participant homes across multiple states, with a primary concentration in Colorado. Revenue is derived primarily from capitated per-participant monthly fees from government payors (Medicare and Medicaid), supplemented by supplemental insurance products.
Themes: elderly care / aging population, government healthcare programs (Medicare/Medicaid), integrated care delivery, chronic disease management, capitated care models
Fundamentals
- Price$11.02 as of 2026-08-24 close
- Market cap$1.5B as of 2026-08-24
- 1-year return+194.7% 2025-08-22 close $3.74 → 2026-08-24 close $11.02
- P/En/a negative earnings
- Net margin-1.2% as of 2026-08-24
- Gross margin+21.8% as of 2026-08-24
- ROE-4.8% as of 2026-08-24
- Debt / equity0.30 as of 2026-08-24
- Revenue growth (YoY)+14.1% as of 2026-08-24
- Revenue CAGR (3y)+6.9% SEC XBRL
- Beta1.08 as of 2026-08-24
- Last reported earnings2026-05-05 SEC EDGAR Form 8-K (Item 2.02)
How INNV compares in its sector
- net profit marginmiddle range 504 covered Health Care peers, as of 2026-08-24
- operating marginmiddle range 504 covered Health Care peers, as of 2026-08-24
- gross marginbottom 25% 384 covered Health Care peers, as of 2026-08-24
- return on equitymiddle range 576 covered Health Care peers, as of 2026-08-24
- 3-year revenue CAGRmiddle range 402 covered Health Care peers
- free cash flow (absolute dollars, latest fiscal year)middle range 493 covered Health Care peers, as of FY2025
Position among covered Health Care companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
Dividend coverage
Not assessed — last reported dividend predates the accounts. The most recent fiscal year in which INNV reported a dividend payment is FY2021, while its reported financial statements run through FY2025. Coverage is therefore not assessed for the latest year — an FY2021 ratio would not describe INNV today.
Coverage is derived from reported SEC EDGAR XBRL figures, comparing dividends paid against net income and free cash flow for the SAME fiscal year. It is not shown here because the latest fiscal year with a reported dividend payment (FY2021) is older than the latest year of reported financial statements (FY2025), so any ratio would describe an out-of-date year. Informational only — not financial advice.
How INNOVAGE HOLDING CORP looks technically
INNOVAGE HOLDING CORP (INNV) is trading 38.7% above its 200-day average, the long-term trend line — a longer-term uptrend. Its 50-day average crossed above its 200-day average about 247 trading days ago — a "golden cross", a bullish long-term signal. A trend is forming but not yet strong — ADX, a 0–100 trend-strength gauge, is 20 (a reading of 25+ marks a strong trend). Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 52, neither overbought (above 70) nor oversold (below 30). It made a new 20-day low about 10 trading days ago.
Trend
8
| Distance from the 200-day | it is trading 38.7% above its 200-day average, the long-term trend line — a longer-term uptrend | +38.7% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $10.95 | $10.95 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $7.95 | $7.95 |
| Swing structure | each recent peak has been lower than the one before it and each dip deeper — the pattern chart-watchers call a downtrend, which describes where price has already been and not where it goes next | lower highs and lower lows |
| Last swing turn | its last significant turn was a swing low 12 calendar days ago — the swings before that are what the structure reading is measured on | 12 sessions |
| Wave structure | its recent swings can be read as a completed three-part downward correction — a pullback in the A-B-C shape Elliott-wave chartists use; the labelling fails if price closes below 10.09. It is the only labelling that fits, and it describes the swings already printed, not what comes next. | possible three-wave downward correction, complete |
| Since the 50/200 cross | its 50-day average crossed above its 200-day average about 247 trading days ago — a "golden cross", a bullish long-term signal | 247 sessions |
| Trend strength (14-day ADX) | a trend is forming but not yet strong — ADX, a 0–100 trend-strength gauge, is 20 (a reading of 25+ marks a strong trend) | 20.1 |
Momentum
3
| 14-day RSI | momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 52, neither overbought (above 70) nor oversold (below 30) | 51.7 |
|---|---|---|
| Position in its 14-day range | it is trading around the middle of its 14-day range ($10.09 to $11.98) — its "stochastic" reading is 49 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been climbing within that range over the last few sessions. | 49.2 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, is in negative territory (momentum leaning bearish) | 31 sessions |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $12.64 | $12.64 |
|---|---|---|
| From the 52-week high | it is 12.8% below its 52-week high (its highest price of the past year) | -12.8% |
| Above the 52-week low | it is 223.2% above its 52-week low (its lowest price of the past year) | +223.2% |
| Below the 52-week high | it is 12.8% below its highest point of the past year | 12.8% |
| Since a 20-day breakout | it made a new 20-day low about 10 trading days ago | 10 sessions |
| Since a 55-day breakout | it made a new 55-day high about 36 trading days ago | 36 sessions |
| All-time high | its highest closing price on record is $26.50 (set on 2021-03-31) | $26.50 |
| Given back of the 52-week move | over the past year its closes ranged ($3.45 to $12.11), and it has given back only a small part of its rise from last year’s low — 13% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $6.48 to $6.76. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 12.6% |
| From the all-time high | it is 58.4% below its all-time high | -58.4% |
| Nearest price level | it is trading 14.6% below a resistance level at $12.63 — a price it turned at twice since 2026-06-30, most recently on 2026-07-16. Since 2024-08-26 it has 13 such levels below the current price and 1 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | +14.6% |
| All-time low | its lowest closing price on record is $2.60 (set on 2025-04-17) | $2.60 |
| Above the all-time low | it is 323.8% above its all-time low | +323.9% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are narrower than usual versus its own recent 6-month history (tighter than about 72% of it) | 28th percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $0.5909 between its high and its low — about 5.4% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $0.5909 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $10.23 and $11.75 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $10.23 – $10.99 – $11.75 |
| Typical daily range (% of price) | its price moves about 5.4% in a typical session — about typical for the companies we cover. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 5.4% |
| Stretch from the 200-day average | it is trading 5.2 daily ranges above its 200-day average price (38.7% above it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 5.2 daily ranges above its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is about normal versus its 30-day average | 0.79× |
|---|
Analyst
2
| Change in the average price target | analysts' average price target is unchanged from the prior reading | 0.0% |
|---|---|---|
| Change in the consensus rating | not available for this company yet | n/a |
Candlestick patterns
1
| Since a doji | 5 sessions ago it opened and closed at almost the same price after trading through a wider range — a "doji", the classic picture of buyers and sellers finishing the session level | 5 sessions ago |
|---|
Price gaps
3
| Gap at the open | it opened on 2026-08-24 at essentially the same price it closed at the session before — no meaningful overnight gap | 0.0% |
|---|---|---|
| Open gap | it gapped 5.0% above the previous close 1 session ago and has not traded back through the level it left behind at 10.72 — an "unfilled gap", which describes a price range no trade has since crossed and is not a forecast that it will be crossed | +5.0% |
| Gap filled | a 2.5% gap up opened on 2026-08-05 has been "filled" 13 sessions ago — price traded back through the level the gap left behind, and it closed again during the very session that opened it | 13 sessions ago |
Price streaks
1
| Closing streak | it has closed higher 2 sessions in a row, a +2.8% move over the run — an unbroken run of up days, which describes what has already happened and says nothing about the next session | 2 sessions up |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock lagged the market by 8.0 percentage points (the stock lost 4.7% while the market gained 3.3%) | -8.0% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock beat the market by 50.7 percentage points (the stock gained 53.1% while the market gained 2.4%) | +50.7% |
| vs market, 6 months | over the past 6 months this stock beat the market by 12.5 percentage points (the stock gained 23.5% while the market gained 11.1%) | +12.5% |
| vs market, 12 months | over the past 12 months this stock beat the market by 176.3 percentage points (the stock gained 194.7% while the market gained 18.3%) | +176.3% |
Signal agreement
2
| Bullish technical signals | 4 of the 9 technical signals we can compute for it are currently in a bullish state: a "golden cross" — its 50-day average is above its 200-day, trading above its 200-day average, outperforming the market over 6 months, trading above the Ichimoku cloud — these describe past price behaviour, not a forecast | 4 of 9 |
|---|---|---|
| Bearish technical signals | 1 of the 9 technical signals we can compute for it is currently in a bearish state: MACD momentum is negative — these describe past price behaviour, not a forecast | 1 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading 1.3% above the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-07-17 and projected forward over today's price, the side traders read as an established uptrend, with the band below acting as the level that would have to give way. The band itself is thick, spanning 9.6% of the share price, which is taken to mean a barrier that has held for a while and takes effort to cross. | +1.3% |
|---|
Volume-weighted price
2
| Vs this year’s average price paid | the price is 22% above the average price paid so far this year, so the typical buyer over that stretch is showing a gain. That average is $9.01 — a volume-weighted average of daily closes over 158 sessions, not a true tick-by-tick VWAP. | +22.3% |
|---|---|---|
| Vs the average paid since it last reported | the price is 12% above the average price paid since it last reported on 2026-05-05 (its 8-K), so the typical buyer over that stretch is showing a gain. That average is $9.87 — a volume-weighted average of daily closes over 74 sessions, not a true tick-by-tick VWAP. | +11.7% |
Price levels it has turned at before
INNV last closed at $11.02 on 2026-08-24. Since 2024-08-26 it has turned at 13 prices below its last close and 1 above; the 3 nearest below and the nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $12.63 | Resistance | 14.6% above the last close | turned there twice · 2026-06-30 to 2026-07-16 |
| $8.61 | Support | 21.9% below the last close | turned there three times · 2026-04-09 to 2026-05-06 |
| $7.47 | Support | 32.2% below the last close | turned there twice · 2026-04-02 to 2026-04-24 |
| $7.02 | Support | 36.3% below the last close | turned there twice · 2026-05-11 to 2026-06-03 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
Its recent swings can be read as a three-part downward correction — the A-B-C shape chartists use for a pullback — now complete.
This labelling fails — stops being a possible reading at all — if it closes below $10.09.
It is the only labelling that fits these swings, though its proportions are not the textbook ones.
This reading has stood for 2 trading days, since 2026-08-21.
Read from daily closes as of 2026-08-24.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Trading above the 200-day moving average · beating the market · Trading above the Ichimoku cloud | Learn: moving average · golden cross · adx · rsi · breakout
Based on daily closing prices as of 2026-08-24. Describes past price behavior only — informational, not financial advice.
Analyst consensus
- Mean price target$7.00 range $7.00 – $7.00
Analyst estimates, as of 2026-08-21. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.
Analyst EPS estimate for INNV
- Consensus EPS estimate$0.08 next reporting period, as of 2026-08-21
Change over time is not available yet: it needs two readings of the same reporting period at least 30 days apart, and we have been recording these estimates since 2026-08-04. An estimate for a DIFFERENT quarter is not a revision, so a reading from before the last report is never compared with one after it.
The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.
Key risks (from latest filing)
["Dependence on limited government payors (Medicare and Medicaid) with risk of sudden loss of contracts or policy changes such as Medicaid reductions from the One Big Beautiful Bill Act","Regulatory and legal risks including ongoing federal and state civil investigative demands and stockholder litigation, plus vulnerability to audit findings that could impact reimbursement","Cost control and margin compression risk: potential for service delivery costs to exceed capitated reimbursement, coupled with labor shortages, inflation, and inability to accurately estimate medical expenses or participant risk scores"]
What changed in the latest 10-Q
AI-assisted comparison of INNV's 10-Q filed 2026-05-08 against the prior one filed 2026-02-03.
Management's Discussion & Analysis (MD&A)
- Added:
- Added reference to 'third quarter of fiscal year 2026' in multiple places (newer filing reflects Q3 2026 data vs Q2 2026 in older)
- Added new subsection 'Medicaid Spending and Rates' consolidating and expanding discussion of OBBBA impacts with specific rate pressure details
- Added statement about Colorado anticipating 'reduced Medicaid premium rate increases for the fiscal year beginning July 1, 2026'
- Added statement about California rates 'which release rates effective January 1, 2027'
- Added statement that 'rate pressures to impact the Company's margins in fiscal 2027'
- Added RAF score metric: 'average risk adjustment factor (RAF) score of 2.52 based on InnovAge data as of March 31, 2026'
- Added text indicating initiatives 'may assist us in offsetting any increased cost of care anticipated for the last quarter of fiscal year 2026'
- Removed:
- Removed as-of date 'As of December 31, 2025' and replaced with 'As of March 31, 2026'
- Removed participant count '8,010' and updated to '8,050'
- Removed separate 'Medicaid Spending' subsection that described OBBBA's work requirements, cost-sharing measures, and bi-annual eligibility verification requirements
- Removed entire 'Macroeconomic Trends' subsection discussing tariffs, supply chain disruptions, and trade tensions
- Removed phrase 'in conjunction with increased staffing related to our growth' from labor market discussion
- Removed phrase 'This has not yet had a material effect' and replaced with 'This has not had a material effect'
- Removed phrase 'we continue to monitor the effects' and replaced with 'we continue to monitor the situation'
- Removed phrase 'which continue to be developed' and replaced with 'which continue to be executed'
- Removed phrase 'we implemented targeted compensation' and replaced with 'we continue to review and implement targeted compensation'
- Reworded:
- Changed 'during the second quarter of fiscal year 2026' to 'through the third quarter of fiscal year 2026' in cost of care monitoring
- Changed 'anticipated for the second half of fiscal year 2026' to 'anticipated for the last quarter of fiscal year 2026'
- Changed reference from 'second quarter' to 'third quarter' in labor market and staffing cost discussion
- Changed 'we implemented' to 'we continue to review and implement' in compensation strategy
- Changed 'which continue to be developed' to 'which continue to be executed' for initiatives description
- Restructured 'Medicaid Spending' section into expanded 'Medicaid Spending and Rates' with consolidated content and new forward-looking rate pressure information
- Separated discussion of state budgetary pressures into numbered list format (i), (ii), (iii)
- Removed tariff/macroeconomic trends discussion entirely, consolidating OBBBA discussion into main Medicaid section
- Notes:
- The newer filing appears to be a Q3 2026 10-Q (period ended March 31, 2026) while older is Q2 2026 10-Q (period ended December 31, 2025), representing sequential quarterly updates
- Text is truncated at end of newer filing ('until the end of life, including coverage for participants requiring hospice and p'), preventing full comparison of final section
- Some wording changes reflect quarterly progression rather than substantive policy changes (e.g., 'second quarter' to 'third quarter' references)
Risk Factors
- Added:
- Added reference to 'the impact of state and federal efforts to reduce healthcare spending, including upcoming Medicaid cuts as a result of the One Big Beautiful Bill Act (the "OBBBA")' in newer filing (2026-05-08)
- Removed:
- Removed 'and the outcome of our organizational and enterprise efficiency initiatives' from growth strategy bullet point in newer filing (2026-05-08)
- Removed 'tariffs and trade disputes' from macroeconomic challenges bullet point in newer filing (2026-05-08)
- Removed standalone bullet point 'the impact of state and federal efforts to reduce healthcare spending' in newer filing (2026-05-08)
- Reworded:
- First bullet point reordered: moved from 'including in Downey and Bakersfield, California), our ability to ramp up our de novo centers (including in Florida), and the outcome of our organizational and enterprise efficiency initiatives' to 'including in Downey and Bakersfield, California), our ability to ramp up our de novo centers (including in Florida)' in newer filing (2026-05-08)
- Macroeconomic challenges bullet point changed from 'including labor shortages, labor competition, inflation, tariffs and trade disputes' to 'including labor shortages, labor competition, and inflation' in newer filing (2026-05-08)
- Notes:
- Comparison limited to forward-looking statements section; full Risk Factors section (Item 1A) not provided in either filing excerpt
- Financial statement data differs between filings (March 31, 2026 vs December 31, 2025 period end) but is not part of Risk Factors comparison
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
No open-market insider purchases or sales are on record for INNV — recent Form 4 activity was compensation-related (awards, option exercises, or tax withholding), not open-market buying or selling.
View full insider trading history → View SEC Form 3/4/5 filingsOnly open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Institutional ownership (13F)
5 institutional 13F filers reported holding INNV as of 2026-03-31 (quarter-end position, filed within 45 days).
- Distinct 13F filers 5
- Reported shares held 2,068,673
- Reported value $16,590,759
reported quarterly holdings change (2025-12-31 → 2026-03-31): 0 new, 3 increased, 2 decreased, 0 exited. Change counts cover only managers that filed 13F reports in BOTH quarters, derived between two quarter-end snapshots — not same-day trades; a single manager is never said to have "bought" or "sold".
Institutional holdings are quarter-end long positions reported on SEC Form 13F-HR, filed up to 45 days after the quarter ends — they are delayed, are not real-time trades, exclude short positions and most non-US securities, and are not investment advice. Any increase/decrease is a reported change between two quarterly snapshots, not a same-day purchase or sale. These are quarter-end snapshots from the 13F filings on SEC EDGAR, filed within 45 days — not real-time, and any change is a difference between two quarterly reports, not a same-day trade. Informational only — not financial advice.
Short interest (FINRA)
INNV had 808,124 shares of reported short interest as of the 2026-07-31 FINRA settlement date (delayed, bi-monthly; not real-time).
INNV had 0.60% of its shares outstanding sold short as of the 2026-07-31 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 2.98 days to cover at the same settlement.
- Reported short interest (shares) 808,124
- Short interest (% of shares outstanding) 0.60%
- Prior settlement (shares) 1,000,508
- Reported change -19.23%
- Days to cover (reported) 2.98
Reported to FINRA as of the 2026-07-31 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- Alignment Healthcare (ALHC)
- Oak Street Health (CVS)
- ChenMed
- CenterWell Senior Primary Care (HUM)
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
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Frequently asked questions
What does INNOVAGE HOLDING CORP (INNV) do?
InnovAge Holding Corp. operates the Program of All-Inclusive Care for the Elderly (PACE), a Medicare and Medicaid-funded managed care program that delivers integrated primary care, specialty care, hospital and nursing facility services, and social support to frail elderly participants. The company operates adult day centers and participant homes across multiple states, with a primary concentration in Colorado.
What sector is INNOVAGE HOLDING CORP (INNV) in?
INNOVAGE HOLDING CORP (INNV) is classified in the Health Care sector. Its industry is Medicare/Medicaid managed care and integrated elderly care services. It trades on NASDAQ.
Who are INNOVAGE HOLDING CORP's (INNV) competitors?
Notable peers of INNOVAGE HOLDING CORP (INNV) include Alignment Healthcare, Oak Street Health, ChenMed and CenterWell Senior Primary Care. This peer set is informational only — not financial advice.
Is INNOVAGE HOLDING CORP (INNV) overbought or oversold right now?
INNOVAGE HOLDING CORP (INNV) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 52, in the neutral middle (as of 2026-08-24). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on INNV come from?
Fundamentals and prices come from market data, as of 2026-08-24; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: market data, as of 2026-08-24. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-08-24.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.