Richard Zoretic, a director at InnovAge Holding Corp. (NASDAQ:INNV), a $530 million healthcare company that’s currently trading below its InvestingPro Fair Value, has recently increased his stake in the company by purchasing additional shares. According to a recent SEC filing, Zoretic acquired a total of 3,045 shares of InnovAge common stock over a three-day period from May 21 to May 23, 2025. The transactions were executed at prices ranging from $3.93 to $4.13 per share, amounting to a total investment of $12,308. This insider purchase aligns with broader management confidence in the company, which has demonstrated strong momentum with 12% revenue growth in the last twelve months and maintains a GOOD financial health score according to InvestingPro analysis.
These acquisitions bring Zoretic’s total holdings to 25,779 shares. The purchases were made in multiple transactions, with the prices reflecting weighted averages within the specified range. For deeper insights into InnovAge’s valuation and growth prospects, including 7 additional ProTips and comprehensive financial analysis, visit InvestingPro.
In other recent news, InnovAge Holding Corp reported its third-quarter fiscal year 2025 earnings, highlighting a 13% increase in revenue year-over-year, reaching $218.1 million. Despite the revenue growth, the company recorded a net loss of $11.1 million, which widened from the $6.2 million loss in the same quarter of the previous fiscal year. InnovAge also reported an improvement in adjusted EBITDA to $10.8 million from $3 million in the prior year. The company experienced a 10.4% growth in its participant census, reaching 7,530 individuals, indicating strong demand in its market. InnovAge reaffirmed its full-year 2025 guidance, projecting total revenue between $815 million and $865 million and adjusted EBITDA of $24 million to $31 million. The company has been focusing on building a next-generation PACE platform, with CEO Patrick Blair emphasizing operational efficiencies and participant growth. InnovAge also completed the acquisition of a pharmacy in Colorado, aiming to improve medication adherence and reduce costs. These recent developments underscore InnovAge’s strategic initiatives and financial performance.
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