Equities analysts expect Inovalon Holdings, Inc. (NASDAQ:INOV) to report $118.28 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Inovalon Holdings’ earnings. The highest sales estimate is $119.20 million and the lowest is $116.70 million. Inovalon Holdings posted sales of $96.09 million in the same quarter last year, which suggests a positive year over year growth rate of 23.1%. The business is scheduled to issue its next quarterly earnings report on Wednesday, February 28th.
According to Zacks, analysts expect that Inovalon Holdings will report full year sales of $118.28 million for the current fiscal year, with estimates ranging from $449.10 million to $453.90 million. For the next fiscal year, analysts expect that the business will report sales of $495.66 million per share, with estimates ranging from $484.80 million to $505.10 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Inovalon Holdings.
Inovalon Holdings (NASDAQ:INOV) last released its earnings results on Wednesday, November 1st. The technology company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $115.90 million for the quarter, compared to analysts’ expectations of $114.79 million. Inovalon Holdings had a return on equity of 4.63% and a net margin of 4.07%. The company’s quarterly revenue was up 10.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 earnings per share.
A number of analysts recently issued reports on the company. Zacks Investment Research lowered Inovalon Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, November 7th. BidaskClub lowered Inovalon Holdings from a “buy” rating to a “hold” rating in a report on Friday, August 11th. KeyCorp reiterated a “hold” rating on shares of Inovalon Holdings in a report on Tuesday, September 12th. ValuEngine upgraded Inovalon Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Finally, TheStreet upgraded Inovalon Holdings from a “d+” rating to a “c-” rating in a report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $14.00.
In other Inovalon Holdings news, CEO Keith R. Dunleavy purchased 62,000 shares of Inovalon Holdings stock in a transaction dated Wednesday, September 13th. The shares were acquired at an average cost of $16.38 per share, with a total value of $1,015,560.00. Following the completion of the transaction, the chief executive officer now owns 270,000 shares in the company, valued at approximately $4,422,600. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 48.28% of the company’s stock.
Hedge funds have recently modified their holdings of the company. BNP Paribas Arbitrage SA increased its position in shares of Inovalon Holdings by 336.2% during the second quarter. BNP Paribas Arbitrage SA now owns 8,397 shares of the technology company’s stock worth $110,000 after purchasing an additional 6,472 shares in the last quarter. Advisor Group Inc. increased its position in shares of Inovalon Holdings by 24.8% in the 2nd quarter. Advisor Group Inc. now owns 10,191 shares of the technology company’s stock valued at $134,000 after acquiring an additional 2,023 shares during the period. Virtu KCG Holdings LLC acquired a new position in shares of Inovalon Holdings in the 2nd quarter valued at $154,000. Principal Financial Group Inc. acquired a new position in shares of Inovalon Holdings in the 2nd quarter valued at $157,000. Finally, Bank of Montreal Can increased its position in shares of Inovalon Holdings by 0.4% in the 2nd quarter. Bank of Montreal Can now owns 14,006 shares of the technology company’s stock valued at $184,000 after acquiring an additional 61 shares during the period. 28.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of Inovalon Holdings (NASDAQ INOV) traded up $0.10 during midday trading on Friday, hitting $15.45. The company had a trading volume of 237,100 shares, compared to its average volume of 584,983. The company has a quick ratio of 5.62, a current ratio of 5.62 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $2,239.14, a price-to-earnings ratio of 73.10, a price-to-earnings-growth ratio of 4.49 and a beta of 1.29. Inovalon Holdings has a 12-month low of $8.60 and a 12-month high of $17.80.
Inovalon Holdings Company Profile
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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