Zacks Investment Research downgraded shares of Inovalon (NASDAQ:INOV) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, Zacks.com reports.

According to Zacks, “Inovalon Holdings, Inc. is a technology company which provides cloud-based data analytics and data-driven intervention platforms for healthcare sector. The company operates through IT and services group. IT operations group manages the process steps from data receipt through to the generation of analytical outputs and services operations group manages the process steps applied to achieve impact through its data-driven intervention platforms. It serves health plans, hospitals, physicians, patients, pharmaceutical companies and researchers. Inovalon Holdings, Inc. is headquartered in Bowie, Maryland. “

A number of other brokerages have also recently weighed in on INOV. BidaskClub cut shares of Inovalon from a buy rating to a hold rating in a research note on Tuesday, March 19th. SunTrust Banks started coverage on shares of Inovalon in a research note on Friday, February 15th. They issued a buy rating and a $22.00 price objective for the company. ValuEngine cut shares of Inovalon from a buy rating to a hold rating in a research note on Thursday, March 7th. Finally, Morgan Stanley upgraded shares of Inovalon from an underweight rating to an equal weight rating and boosted their price objective for the stock from $10.00 to $13.00 in a research note on Thursday, December 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $15.50.

NASDAQ INOV opened at $12.62 on Thursday. The company has a quick ratio of 1.93, a current ratio of 1.93 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 70.11, a price-to-earnings-growth ratio of 2.73 and a beta of 0.67. Inovalon has a 12-month low of $8.90 and a 12-month high of $15.57.

Inovalon (NASDAQ:INOV) last posted its earnings results on Wednesday, February 20th. The technology company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.02). The business had revenue of $136.30 million during the quarter, compared to analyst estimates of $145.20 million. Inovalon had a negative net margin of 7.32% and a positive return on equity of 3.88%. Inovalon’s revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.06 earnings per share. As a group, analysts anticipate that Inovalon will post 0.33 EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. FNY Investment Advisers LLC acquired a new stake in shares of Inovalon in the first quarter worth $37,000. Tibra Equities Europe Ltd bought a new position in Inovalon during the first quarter worth $487,000. Deutsche Bank AG increased its position in Inovalon by 7.7% during the fourth quarter. Deutsche Bank AG now owns 322,136 shares of the technology company’s stock worth $4,566,000 after acquiring an additional 22,911 shares during the period. Geode Capital Management LLC increased its position in Inovalon by 12.6% during the fourth quarter. Geode Capital Management LLC now owns 808,771 shares of the technology company’s stock worth $11,468,000 after acquiring an additional 90,562 shares during the period. Finally, FMR LLC increased its position in Inovalon by 39.2% during the fourth quarter. FMR LLC now owns 6,701,752 shares of the technology company’s stock worth $95,031,000 after acquiring an additional 1,885,737 shares during the period. Institutional investors and hedge funds own 33.52% of the company’s stock.

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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