Morgan Stanley upgraded shares of Inovalon Holdings, Inc. (NASDAQ:INOV) from an underweight rating to an equal weight rating in a report issued on Tuesday. Morgan Stanley currently has $14.00 price objective on the technology company’s stock, up from their prior price objective of $9.00.
Several other equities research analysts also recently issued reports on the company. BidaskClub downgraded Inovalon Holdings from a strong-buy rating to a buy rating in a report on Wednesday, July 12th. Robert W. Baird reiterated a neutral rating and set a $12.00 price objective (up previously from $11.00) on shares of Inovalon Holdings in a research report on Friday, June 16th. Finally, ValuEngine upgraded Inovalon Holdings from a sell rating to a hold rating in a research report on Wednesday, September 6th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $14.17.
Inovalon Holdings (NASDAQ INOV) traded down 1.46% during mid-day trading on Tuesday, hitting $16.85. 95,137 shares of the company traded hands. The company’s 50-day moving average price is $14.65 and its 200 day moving average price is $12.31. Inovalon Holdings has a one year low of $8.60 and a one year high of $17.15. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 141.60 and a beta of 1.17.
Inovalon Holdings (NASDAQ:INOV) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Inovalon Holdings had a return on equity of 5.17% and a net margin of 4.13%. The firm had revenue of $110.60 million during the quarter, compared to the consensus estimate of $108.73 million. During the same quarter in the prior year, the firm posted $0.14 EPS. The business’s revenue was down 10.7% on a year-over-year basis. On average, analysts anticipate that Inovalon Holdings will post $0.31 earnings per share for the current fiscal year.
A number of institutional investors have recently made changes to their positions in INOV. BNP Paribas Arbitrage SA boosted its position in Inovalon Holdings by 336.2% in 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 during the last quarter. Advisor Group Inc. lifted its position in shares of Inovalon Holdings by 24.8% during the 2nd quarter. Advisor Group Inc. now owns 10,191 shares of the technology company’s stock valued at $134,000 after buying an additional 2,023 shares during the last quarter. Virtu KCG Holdings LLC purchased a new position in shares of Inovalon Holdings during the 2nd quarter valued at $154,000. Principal Financial Group Inc. purchased a new position in shares of Inovalon Holdings during the 2nd quarter valued at $157,000. Finally, Bank of Montreal Can lifted its position in shares of Inovalon Holdings by 319.9% during the 1st quarter. Bank of Montreal Can now owns 13,945 shares of the technology company’s stock valued at $176,000 after buying an additional 10,624 shares during the last quarter. Institutional investors and hedge funds own 28.67% of the company’s stock.
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.
Receive News & Ratings for Inovalon Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inovalon Holdings Inc. and related companies with MarketBeat.com's FREE daily email newsletter.