Inovalon Holdings, Inc. (INOV) Upgraded to “Equal Weight” at Morgan Stanley

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.

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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.

Analyst Recommendations for Inovalon Holdings (NASDAQ:INOV)

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