Inovalon Holdings, Inc. (INOV) Upgraded to C- at TheStreet
INOV has been the topic of several other research reports. ValuEngine raised shares of Inovalon Holdings from a sell rating to a hold rating in a research note on Wednesday, September 6th. Morgan Stanley raised shares of Inovalon Holdings from an underweight rating to an equal weight rating and raised their target price for the company from $9.00 to $14.00 in a research note on Tuesday, September 12th. KeyCorp reissued a hold rating on shares of Inovalon Holdings in a research note on Tuesday, September 12th. BidaskClub raised shares of Inovalon Holdings from a buy rating to a strong-buy rating in a research note on Saturday, June 10th. Finally, Robert W. Baird reissued a neutral rating and set a $12.00 target price (up previously from $11.00) on shares of Inovalon Holdings in a research note on Friday, June 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. Inovalon Holdings has a consensus rating of Hold and a consensus target price of $14.00.
Shares of Inovalon Holdings (NASDAQ INOV) remained flat at $17.00 during mid-day trading on Thursday. 269,182 shares of the stock traded hands. The company has a 50-day moving average of $16.68 and a 200 day moving average of $16.68. The stock has a market capitalization of $2.48 billion, a PE ratio of 142.86 and a beta of 1.31. Inovalon Holdings has a 12 month low of $8.60 and a 12 month high of $17.80.
Inovalon Holdings (NASDAQ:INOV) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.01. The firm had revenue of $110.60 million for the quarter, compared to analysts’ expectations of $108.73 million. Inovalon Holdings had a net margin of 4.13% and a return on equity of 5.17%. Inovalon Holdings’s quarterly revenue was down 10.7% on a year-over-year basis. During the same quarter last year, the company earned $0.14 EPS. On average, equities analysts forecast that Inovalon Holdings will post $0.32 EPS for the current year.
In other Inovalon Holdings news, CEO Keith R. Dunleavy acquired 62,000 shares of Inovalon Holdings stock in a transaction dated Wednesday, September 13th. The stock was bought at an average price of $16.38 per share, for a total transaction of $1,015,560.00. Following the transaction, the chief executive officer now owns 270,000 shares in the company, valued at approximately $4,422,600. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 48.28% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of INOV. Karp Capital Management Corp bought a new position in shares of Inovalon Holdings during the 1st quarter valued at about $421,000. Envestnet Asset Management Inc. boosted its position in shares of Inovalon Holdings by 0.3% during the 1st quarter. Envestnet Asset Management Inc. now owns 88,401 shares of the technology company’s stock valued at $1,116,000 after purchasing an additional 225 shares in the last quarter. Stifel Financial Corp boosted its position in shares of Inovalon Holdings by 2.4% during the 1st quarter. Stifel Financial Corp now owns 30,821 shares of the technology company’s stock valued at $382,000 after purchasing an additional 726 shares in the last quarter. Alliancebernstein L.P. boosted its position in shares of Inovalon Holdings by 5.8% during the 1st quarter. Alliancebernstein L.P. now owns 38,922 shares of the technology company’s stock valued at $490,000 after purchasing an additional 2,130 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Inovalon Holdings by 6.7% during the 1st quarter. FMR LLC now owns 2,565,829 shares of the technology company’s stock valued at $32,329,000 after purchasing an additional 161,500 shares in the last quarter. Institutional investors own 28.67% of the company’s stock.
About Inovalon Holdings
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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