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Robert W. Baird Thinks InnovAge Holding’s Stock is Going to Recover

Robert W. Baird analyst Vikram Kesavabhotla maintained a Buy rating on InnovAge Holding (INNVResearch Report) on February 13 and set a price target of $6.00. The company’s shares closed last Wednesday at $4.98, close to its 52-week low of $3.46.

According to TipRanks.com, Kesavabhotla is ranked 0 out of 5 stars with an average return of -12.7% and a 38.3% success rate. Kesavabhotla covers the Technology sector, focusing on stocks such as Tabula Rasa HealthCare, GoodRx Holdings, and SOC Telemed.

The word on The Street in general, suggests a Hold analyst consensus rating for InnovAge Holding with a $5.00 average price target.

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Based on InnovAge Holding’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $173 million and net profit of $7.69 million. In comparison, last year the company earned revenue of $157 million and had a net profit of $9.71 million.

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InnovAge Holding Corp is a healthcare delivery platform by several participants focused on providing all-inclusive, capitated care to high-cost, dual-eligible seniors. Its patient-centered care delivery approach improves the quality of care while keeping them in their homes and reducing over-utilization of high-cost care settings such as hospitals and nursing homes.

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