Shares of Inovalon Holdings Inc (NASDAQ:INOV) have received an average recommendation of “Hold” from the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation and three have assigned a hold recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $12.00.

A number of research analysts have recently weighed in on the company. TheStreet raised Inovalon from a “d+” rating to a “c” rating in a research note on Thursday, March 15th. ValuEngine downgraded Inovalon from a “hold” rating to a “sell” rating in a research note on Wednesday, March 14th. Zacks Investment Research downgraded Inovalon from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 12th. Morgan Stanley downgraded Inovalon from an “equal weight” rating to an “underweight” rating and set a $10.00 price target on the stock. in a research note on Wednesday, March 14th. Finally, BidaskClub raised Inovalon from a “strong sell” rating to a “sell” rating in a research note on Tuesday, April 24th.

Inovalon traded up $0.05, hitting $9.95, during trading hours on Friday, Marketbeat Ratings reports. 832,088 shares of the stock were exchanged, compared to its average volume of 620,972. The company has a debt-to-equity ratio of 0.31, a quick ratio of 4.48 and a current ratio of 4.48. The company has a market cap of $1.52 billion, a price-to-earnings ratio of 43.26, a P/E/G ratio of 3.68 and a beta of 1.02. Inovalon has a twelve month low of $8.90 and a twelve month high of $17.80.

Inovalon (NASDAQ:INOV) last posted its quarterly earnings results on Tuesday, May 8th. The technology company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.10). The company had revenue of $92.76 million during the quarter, compared to analyst estimates of $107.76 million. Inovalon had a net margin of 3.20% and a return on equity of 2.50%. The business’s revenue for the quarter was down 14.4% compared to the same quarter last year. During the same period last year, the company earned $0.07 EPS. equities analysts predict that Inovalon will post 0.19 EPS for the current fiscal year.

In other news, Director Lee D. Roberts acquired 10,000 shares of the stock in a transaction that occurred on Friday, June 8th. The stock was acquired at an average price of $10.54 per share, for a total transaction of $105,400.00. Following the transaction, the director now directly owns 91,804 shares in the company, valued at $967,614.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Keith R. Dunleavy acquired 118,000 shares of the stock in a transaction that occurred on Wednesday, May 16th. The stock was purchased at an average price of $9.91 per share, with a total value of $1,169,380.00. Following the transaction, the chief executive officer now owns 318,753 shares in the company, valued at $3,158,842.23. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 164,753 shares of company stock valued at $1,641,207. 50.93% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in INOV. Neuberger Berman Group LLC increased its holdings in Inovalon by 47.0% during the 1st quarter. Neuberger Berman Group LLC now owns 3,304,988 shares of the technology company’s stock worth $35,032,000 after purchasing an additional 1,056,781 shares in the last quarter. Tikvah Management LLC increased its holdings in Inovalon by 97.2% during the 1st quarter. Tikvah Management LLC now owns 1,963,400 shares of the technology company’s stock worth $20,812,000 after purchasing an additional 968,000 shares in the last quarter. Millennium Management LLC bought a new position in Inovalon during the 1st quarter worth about $4,456,000. Renaissance Technologies LLC bought a new position in Inovalon during the 4th quarter worth about $4,055,000. Finally, Algert Global LLC bought a new position in Inovalon during the 1st quarter worth about $2,519,000. Institutional investors and hedge funds own 28.02% of the company’s stock.

Inovalon Company Profile

Inovalon Holdings, Inc, a technology company, provides cloud-based platforms empowering a data-driven transformation from volume-based to value-based models in the healthcare industry. The company's platform enables the assessment and enhancement of clinical and quality outcomes and financial performance.

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