Inovalon (NASDAQ:INOV) Rating Lowered to Hold at BidaskClub
Several other equities analysts have also commented on the company. Zacks Investment Research upgraded Inovalon from a hold rating to a buy rating and set a $16.00 price target on the stock in a research note on Tuesday, May 7th. ValuEngine raised Inovalon from a hold rating to a buy rating in a report on Friday, April 26th. Finally, SunTrust Banks began coverage on Inovalon in a report on Friday, February 15th. They issued a buy rating and a $22.00 price target for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $15.50.
INOV stock opened at $14.12 on Tuesday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.89 and a current ratio of 1.89. Inovalon has a twelve month low of $9.19 and a twelve month high of $15.57. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 78.44, a price-to-earnings-growth ratio of 2.69 and a beta of 0.61.
In other Inovalon news, CEO Keith R. Dunleavy acquired 136,995 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was acquired at an average cost of $13.41 per share, for a total transaction of $1,837,102.95. Following the completion of the transaction, the chief executive officer now directly owns 460,801 shares of the company’s stock, valued at $6,179,341.41. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Keith R. Dunleavy acquired 60,801 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was acquired at an average price of $13.60 per share, with a total value of $826,893.60. Following the completion of the transaction, the chief executive officer now directly owns 460,801 shares of the company’s stock, valued at $6,266,893.60. The disclosure for this purchase can be found here. Insiders own 50.44% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of INOV. Rhumbline Advisers lifted its stake in shares of Inovalon by 51.2% in the 4th quarter. Rhumbline Advisers now owns 90,489 shares of the technology company’s stock valued at $1,283,000 after purchasing an additional 30,660 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Inovalon by 9.8% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 23,109 shares of the technology company’s stock worth $328,000 after acquiring an additional 2,064 shares in the last quarter. Cutler Group LP lifted its stake in Inovalon by 900.0% during the 4th quarter. Cutler Group LP now owns 6,000 shares of the technology company’s stock worth $85,000 after acquiring an additional 5,400 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Inovalon during the 4th quarter worth about $160,000. Finally, BlackRock Inc. lifted its stake in Inovalon by 2.4% during the 4th quarter. BlackRock Inc. now owns 5,246,542 shares of the technology company’s stock worth $74,394,000 after acquiring an additional 124,621 shares in the last quarter. Hedge funds and other institutional investors own 32.33% of the company’s stock.
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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