BidaskClub Downgrades Inovalon (INOV) to Strong Sell
Inovalon (NASDAQ:INOV) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Thursday.
Other equities research analysts also recently issued reports about the company. TheStreet upgraded Inovalon from a “d+” rating to a “c-” rating in a report on Thursday, October 5th. Morgan Stanley upgraded Inovalon from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $9.00 to $14.00 in a report on Tuesday, September 12th. KeyCorp reiterated a “hold” rating on shares of Inovalon in a report on Tuesday, September 12th. ValuEngine upgraded Inovalon from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Finally, Zacks Investment Research cut Inovalon from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Inovalon currently has a consensus rating of “Hold” and a consensus target price of $12.00.
Shares of Inovalon (NASDAQ:INOV) opened at $15.00 on Thursday. Inovalon has a twelve month low of $9.10 and a twelve month high of $17.80. The company has a market capitalization of $2,144.32, a PE ratio of 70.00, a P/E/G ratio of 4.30 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.62 and a quick ratio of 5.62.
In other Inovalon news, President Robert A. Wychulis sold 85,828 shares of the firm’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $15.54, for a total value of $1,333,767.12. Following the transaction, the president now directly owns 466,286 shares of the company’s stock, valued at $7,246,084.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shauna L. Vernal sold 5,908 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $16.01, for a total value of $94,587.08. Following the completion of the transaction, the insider now directly owns 47,309 shares in the company, valued at $757,417.09. The disclosure for this sale can be found here. Company insiders own 48.28% of the company’s stock.
A number of large investors have recently made changes to their positions in INOV. BNP Paribas Arbitrage SA boosted its position in Inovalon by 336.2% in the second quarter. BNP Paribas Arbitrage SA now owns 8,397 shares of the technology company’s stock worth $110,000 after purchasing an additional 6,472 shares during the last quarter. Advisor Group Inc. lifted its position in shares of Inovalon by 24.8% during the 2nd quarter. Advisor Group Inc. now owns 10,191 shares of the technology company’s stock valued at $134,000 after buying an additional 2,023 shares in the last quarter. Virtu KCG Holdings LLC purchased a new position in shares of Inovalon during the 2nd quarter valued at about $154,000. Principal Financial Group Inc. purchased a new position in shares of Inovalon during the 2nd quarter valued at about $157,000. Finally, Bank of Montreal Can lifted its position in shares of Inovalon by 0.4% during the 2nd quarter. Bank of Montreal Can now owns 14,006 shares of the technology company’s stock valued at $184,000 after buying an additional 61 shares in the last quarter. 28.09% of the stock is currently owned by institutional investors and hedge funds.
Inovalon Holdings, Inc (Inovalon) is a technology company. The Company provides cloud-based platforms empowering a data-driven transformation from volume-based to value-based models to the healthcare industry. Leveraging large-scale data interconnectivity capabilities, unparalleled proprietary data sets, advanced analytics, data-driven intervention systems, and subject matter expertise, Inovalon enables the assessment and improvement of clinical and quality outcomes and financial performance across the healthcare ecosystem.
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