Inovalon Holdings Inc (NASDAQ:INOV) insider Joseph R. Rostock sold 104,649 shares of the company’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $13.07, for a total value of $1,367,762.43. Following the completion of the sale, the insider now directly owns 171,824 shares of the company’s stock, valued at $2,245,739.68. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of Inovalon Holdings Inc (NASDAQ:INOV) remained flat at $13.05 on Friday. The company’s stock had a trading volume of 225,334 shares. The stock has a 50-day moving average of $12.56 and a 200 day moving average of $12.37. Inovalon Holdings Inc has a 1-year low of $8.60 and a 1-year high of $20.05. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 72.10 and a beta of 1.14.
Inovalon Holdings (NASDAQ:INOV) last released its earnings results on Wednesday, May 3rd. The technology company reported $0.05 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.05. Inovalon Holdings had a return on equity of 7.79% and a net margin of 9.37%. The company had revenue of $108.31 million for the quarter, compared to the consensus estimate of $102.05 million. On average, equities research analysts forecast that Inovalon Holdings Inc will post $0.30 earnings per share for the current year.
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Several institutional investors have recently made changes to their positions in INOV. Goldman Sachs Group Inc. increased its position in shares of Inovalon Holdings by 86.7% in the first quarter. Goldman Sachs Group Inc. now owns 472,597 shares of the technology company’s stock valued at $5,954,000 after buying an additional 219,465 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Inovalon Holdings by 16.1% in the first quarter. Bank of America Corp DE now owns 244,649 shares of the technology company’s stock valued at $3,083,000 after buying an additional 34,014 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of Inovalon Holdings during the first quarter valued at about $1,290,000. Black Creek Investment Management Inc. boosted its stake in shares of Inovalon Holdings by 13.6% in the first quarter. Black Creek Investment Management Inc. now owns 9,772,435 shares of the technology company’s stock valued at $123,133,000 after buying an additional 1,171,150 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new stake in shares of Inovalon Holdings during the first quarter valued at about $650,000. Institutional investors and hedge funds own 28.75% of the company’s stock.
A number of analysts recently issued reports on the company. Zacks Investment Research raised Inovalon Holdings from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research note on Tuesday, May 9th. William Blair reaffirmed a “market perform” rating on shares of Inovalon Holdings in a report on Thursday, February 23rd. Finally, Bank of America Corp downgraded Inovalon Holdings from a “neutral” rating to an “underperform” rating and set a $10.00 price target for the company. in a report on Monday, February 13th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Inovalon Holdings presently has an average rating of “Hold” and a consensus price target of $15.33.
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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