Inovalon Holdings, Inc. (INOV) Issues FY17 Earnings Guidance
Inovalon Holdings, Inc. (NASDAQ:INOV) updated its FY17 earnings guidance on Wednesday. The company provided EPS guidance of $0.30-0.33 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.32. The company issued revenue guidance of $447.1-459.3 million, compared to the consensus revenue estimate of $451.28 million.
A number of analysts have recently issued reports on the stock. BidaskClub downgraded shares of Inovalon Holdings from a buy rating to a hold rating in a report on Friday, August 11th. KeyCorp restated a hold rating on shares of Inovalon Holdings in a report on Tuesday, September 12th. TheStreet upgraded shares of Inovalon Holdings from a d+ rating to a c- rating in a report on Thursday, October 5th. ValuEngine upgraded shares of Inovalon Holdings from a sell rating to a hold rating in a report on Wednesday, September 6th. Finally, Morgan Stanley upgraded shares of Inovalon Holdings from an underweight rating to an equal weight rating and raised their price target for the stock from $9.00 to $14.00 in a report on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $14.00.
Inovalon Holdings (NASDAQ:INOV) last issued its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.08 by $0.01. Inovalon Holdings had a net margin of 4.07% and a return on equity of 4.60%. The firm had revenue of $115.90 million during the quarter, compared to analyst estimates of $114.79 million. During the same quarter in the prior year, the business posted $0.10 earnings per share. Inovalon Holdings’s revenue for the quarter was up 10.4% compared to the same quarter last year.
In related news, CEO Keith R. Dunleavy purchased 62,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was purchased at an average price of $16.38 per share, with a total value of $1,015,560.00. Following the completion of the transaction, the chief executive officer now owns 270,000 shares of the company’s stock, valued at approximately $4,422,600. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 48.28% of the company’s stock.
Inovalon Holdings Company Profile
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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