Inovalon (NASDAQ:INOV) was upgraded by analysts at TheStreet from a “d+” rating to a “c” rating in a report issued on Thursday.
Several other equities research analysts also recently commented on the stock. ValuEngine downgraded shares of Inovalon from a “hold” rating to a “sell” rating in a research note on Wednesday. Morgan Stanley downgraded shares of Inovalon from an “equal weight” rating to an “underweight” rating and set a $10.00 price objective for the company. in a research note on Wednesday. Zacks Investment Research upgraded shares of Inovalon from a “sell” rating to a “hold” rating in a research note on Saturday, February 24th. Wells Fargo reiterated a “market perform” rating and set a $14.00 price objective (down from $16.00) on shares of Inovalon in a research note on Wednesday, February 21st. Finally, BidaskClub downgraded shares of Inovalon from a “sell” rating to a “strong sell” rating in a research note on Thursday, December 14th. Three analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock has an average rating of “Hold” and a consensus price target of $12.00.
Shares of Inovalon (INOV) opened at $10.95 on Thursday. Inovalon has a one year low of $10.70 and a one year high of $17.80. The company has a current ratio of 4.82, a quick ratio of 4.82 and a debt-to-equity ratio of 0.32. The company has a market cap of $1,610.08, a price-to-earnings ratio of 45.63, a PEG ratio of 3.19 and a beta of 0.96.
Inovalon (NASDAQ:INOV) last posted its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.01). Inovalon had a return on equity of 4.79% and a net margin of 7.51%. The company had revenue of $114.60 million for the quarter, compared to analyst estimates of $116.83 million. During the same quarter in the previous year, the firm posted $0.05 earnings per share. The company’s quarterly revenue was up 19.3% on a year-over-year basis. research analysts predict that Inovalon will post 0.25 EPS for the current fiscal year.
In related news, insider Shauna L. Vernal sold 44,270 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $14.00, for a total transaction of $619,780.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 48.28% of the company’s stock.
Several institutional investors have recently modified their holdings of INOV. Senvest Management LLC raised its holdings in shares of Inovalon by 138.6% during the third quarter. Senvest Management LLC now owns 1,009,700 shares of the technology company’s stock worth $17,215,000 after purchasing an additional 586,500 shares during the last quarter. State Street Corp raised its holdings in shares of Inovalon by 59.1% during the second quarter. State Street Corp now owns 1,151,392 shares of the technology company’s stock worth $15,140,000 after purchasing an additional 427,528 shares during the last quarter. Renaissance Technologies LLC purchased a new position in shares of Inovalon during the fourth quarter worth $4,055,000. Deutsche Bank AG raised its holdings in shares of Inovalon by 187.8% during the fourth quarter. Deutsche Bank AG now owns 244,503 shares of the technology company’s stock worth $3,666,000 after purchasing an additional 159,534 shares during the last quarter. Finally, Allianz Asset Management GmbH purchased a new position in shares of Inovalon during the third quarter worth $1,293,000. 27.92% of the stock is owned by hedge funds and other institutional investors.
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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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