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OFFON

INNOVAGE HOLDING CORP.

(INNV)
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INVESTOR ALERT: Kirby McInerney LLP Announces an Investigation of Shareholder Claims on Behalf of InnovAge Holding Corp. (INNV) Investors

09/23/2021 | 07:20pm EST

The law firm of Kirby McInerney LLP is investigating potential claims against InnovAge Holding Corp. (“InnovAge” or the “Company”) (NASDAQ: INNV). The investigation concerns whether InnovAge has violated the federal securities laws and/or engaged in other unlawful business practices.

InnovAge 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.

On September 21, 2021, after the market closed, certain InnovAge executive officers participated in an earnings conference call. During the conference call, Maureen Hewitt, InnovAge’s president and Chief Executive Officer, revealed that the Centers for Medicare and Medicaid Services had “determined to freeze new enrollments at [the Company’s] Sacramento center based on deficiencies detected in [a May 2021] audit.” Ms. Hewitt stated that these “deficiencies relate to failures to provide covered services, provide accessible and adequate services, manage participants’ medical situations and oversee use of specialists among others.” On this news, the Company’s share price declined by $2.90 per share, or approximately 24.9%, from $11.65 per share to close at $8.75 per share on September 22, 2021.

If you purchased or otherwise acquired InnovAge securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.

Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, whistleblower, and consumer litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: http://www.kmllp.com.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


ę Business Wire 2021
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Analyst Recommendations on INNOVAGE HOLDING CORP.
More recommendations
Financials (USD)
Sales 2022 719 M - -
Net income 2022 28,3 M - -
Net cash 2022 656 M - -
P/E ratio 2022 39,7x
Yield 2022 -
Capitalization 1 126 M 1 126 M -
EV / Sales 2022 0,65x
EV / Sales 2023 0,54x
Nbr of Employees 1 800
Free-Float 14,0%
Chart INNOVAGE HOLDING CORP.
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Technical analysis trends INNOVAGE HOLDING CORP.
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Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 7
Last Close Price 8,31 $
Average target price 15,17 $
Spread / Average Target 82,5%
EPS Revisions
Managers and Directors
Maureen Hewitt Chief Executive Officer & Director
Patrick Blair President
Barbara K. Gutierrez Chief Financial Officer
Andrew J. Cavanna Chairman
Melissa Welch Chief Medical Officer