InnovAge Holding Corp. (INNV)

InnovAge's stock experienced a significant decline, hitting a 52-week low in March 2025. In June 2025, InnovAge agreed to a $27 million settlement following allegations of misleading statements in its IPO. In September 2025, the company announced an increase in its share repurchase program and appointed Meredith Delk as Executive Vice President and Chief Administrative Officer. The company is scheduled to release its fiscal first-quarter 2026 financial results and host a conference call on November 4, 2025. Additionally, in October 2025, an investor rights law firm encouraged shareholders to contact them to discuss potential breaches of fiduciary duties by certain officers and directors.

There is no clear evidence of significant seasonality in the overall demand for InnovAge's core PACE program services. The PACE model provides continuous, comprehensive healthcare and social support for seniors, suggesting a generally stable need for these services throughout the year.

InnovAge Holding Corp. operates a healthcare delivery platform specializing in comprehensive care for high-cost, frail, and dual-eligible seniors through its PACE model, enabling older adults to age independently. The company operates in the medical care facilities and payor services & risk-based care industries, with its primary product being the PACE program, which offers an all-inclusive, capitated care model. The PACE program provides a range of medical and ancillary services, including in-home care, in-center services, transportation, and comprehensive care management, aiming to improve care quality and reduce the overutilization of high-cost care settings.

InnovAge's operations are primarily concentrated in six states across the United States: Colorado, California, New Mexico, Pennsylvania, Virginia, and Florida. As of June 30, 2025, the company served approximately 7,740 participants across 20 PACE centers in these states.

InnovAge's brand reputation has been influenced by challenges and positive recognition. In June 2025, the company agreed to a $27 million settlement due to allegations of misleading statements in its IPO, following previous regulatory issues. In September 2025, InnovAge was named one of the "Nation's Best Workplaces in Aging Services™ by Fortune® and Great Place to Work®," marking the sixth time InnovAge was honored as an overall Great Place to Work®.

InnovAge Holding Corp. has significant institutional backing, with institutional investors owning 95.03% of the shares as of July 21, 2025. Apax Partners (UK) Ltd. is the largest shareholder, holding 83.54% of the company's shares. Other notable institutional investors include T. Rowe Price Investment Management, Inc., Coliseum Capital Management, LLC, BlackRock, Inc., and Vanguard Group Inc. Individual ownership accounts for a smaller portion, at 1.62%.