InnovAge initiated with a Sector Weight at KeyBanc

KeyBanc initiated coverage of InnovAge with a Sector Weight rating as part of a broader research note launching coverage of Healthcare Services. The U.S. healthcare system requires significant efficiency gains and Healthcare Services will be at the epicenter of innovation, disruption, and opportunity, with near term proprietary hospital card data indicating that utilization remains strong in Q3 which represents a positive read for Hospitals and Post-Acute care, the analyst tells investors in a research note. While KeyBanc sees positive factors for InnovAge and the PACE industry, the firm said it is comfortable with its Sector Weight rating as it looks to “gain additional visibility into the timing and slope of margin expansion.”