ValuEngine cut shares of Inovalon (NASDAQ:INOV) from a buy rating to a hold rating in a report published on Thursday, ValuEngine reports.

Several other analysts also recently issued reports on the company. Zacks Investment Research downgraded Inovalon from a buy rating to a hold rating in a research note on Saturday, July 27th. BidaskClub downgraded Inovalon from a buy rating to a hold rating in a research note on Tuesday, June 11th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of $15.75.

INOV opened at $15.76 on Thursday. The business has a fifty day simple moving average of $15.43 and a 200 day simple moving average of $13.91. The company has a market capitalization of $2.41 billion, a PE ratio of 87.56, a price-to-earnings-growth ratio of 3.05 and a beta of 0.64. Inovalon has a 1 year low of $9.19 and a 1 year high of $17.70. The company has a debt-to-equity ratio of 1.49, a current ratio of 2.03 and a quick ratio of 2.03.

Inovalon (NASDAQ:INOV) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.03. The business had revenue of $156.98 million during the quarter, compared to the consensus estimate of $155.72 million. Inovalon had a positive return on equity of 6.39% and a negative net margin of 2.70%. The firm’s quarterly revenue was up 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 EPS. Equities analysts anticipate that Inovalon will post 0.37 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. We Are One Seven LLC acquired a new position in Inovalon in the 2nd quarter valued at $393,000. Deutsche Bank AG raised its holdings in Inovalon by 7.7% in the 4th quarter. Deutsche Bank AG now owns 322,136 shares of the technology company’s stock valued at $4,566,000 after acquiring an additional 22,911 shares in the last quarter. Cowen Prime Services LLC raised its holdings in Inovalon by 21.1% in the 2nd quarter. Cowen Prime Services LLC now owns 741,000 shares of the technology company’s stock valued at $10,752,000 after acquiring an additional 129,250 shares in the last quarter. Penn Davis Mcfarland Inc. raised its holdings in Inovalon by 11.6% in the 1st quarter. Penn Davis Mcfarland Inc. now owns 476,969 shares of the technology company’s stock valued at $5,929,000 after acquiring an additional 49,721 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Inovalon by 26.2% in the 4th quarter. Bank of America Corp DE now owns 111,559 shares of the technology company’s stock valued at $1,581,000 after acquiring an additional 23,170 shares in the last quarter. 32.56% of the stock is owned by hedge funds and other institutional investors.

About Inovalon

Inovalon Holdings, Inc, a technology company, provides cloud-based platforms empowering data-driven healthcare. It operates the Inovalon ONE Platform, a cloud-based platform that interconnect with the healthcare ecosystem to aggregate and analyze data in real-time, as well as empowers the application in resulting insights.

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