Fmr LLC increased its position in shares of Inovalon Holdings Inc (NASDAQ:INOV) by 372.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,770,907 shares of the technology company’s stock after buying an additional 3,761,107 shares during the period. Fmr LLC’s holdings in Inovalon were worth $47,351,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its holdings in Inovalon by 1.1% during the first quarter. BlackRock Inc. now owns 4,212,663 shares of the technology company’s stock worth $44,654,000 after buying an additional 43,955 shares in the last quarter. Amalgamated Bank purchased a new stake in Inovalon during the second quarter worth $105,000. Cowen Prime Services LLC boosted its holdings in Inovalon by 60.7% during the second quarter. Cowen Prime Services LLC now owns 435,900 shares of the technology company’s stock worth $4,326,000 after buying an additional 164,650 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Inovalon by 8.8% during the first quarter. Dimensional Fund Advisors LP now owns 124,037 shares of the technology company’s stock worth $1,315,000 after buying an additional 10,048 shares in the last quarter. Finally, Summit Partners L P purchased a new stake in Inovalon during the second quarter worth $34,631,000. 33.99% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ:INOV opened at $10.60 on Wednesday. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.38. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 45.65, a P/E/G ratio of 2.70 and a beta of 1.10. Inovalon Holdings Inc has a fifty-two week low of $8.90 and a fifty-two week high of $17.70.

Inovalon (NASDAQ:INOV) last posted its quarterly earnings data on Wednesday, August 1st. The technology company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.08. The company had revenue of $152.80 million during the quarter, compared to analysts’ expectations of $147.09 million. Inovalon had a negative net margin of 0.40% and a positive return on equity of 3.69%. The firm’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 earnings per share. equities research analysts predict that Inovalon Holdings Inc will post 0.28 EPS for the current year.

A number of brokerages recently issued reports on INOV. BidaskClub downgraded shares of Inovalon from a “buy” rating to a “hold” rating in a report on Friday, August 17th. Zacks Investment Research upgraded shares of Inovalon from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 11th. Finally, ValuEngine cut shares of Inovalon from a “hold” rating to a “sell” rating in a research report on Tuesday, September 4th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company. Inovalon currently has an average rating of “Hold” and an average price target of $12.67.

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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Institutional Ownership by Quarter for Inovalon (NASDAQ:INOV)

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