Shares of Inovalon Holdings, Inc. (NASDAQ:INOV) have been assigned a consensus rating of “Hold” from the eleven ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $14.00.
INOV has been the topic of a number of research reports. BidaskClub downgraded shares of Inovalon Holdings from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 12th. TheStreet raised shares of Inovalon Holdings from a “d+” rating to a “c-” rating in a research report on Thursday, October 5th. Morgan Stanley raised shares of Inovalon Holdings from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $9.00 to $14.00 in a research report on Tuesday, September 12th. KeyCorp reissued a “hold” rating on shares of Inovalon Holdings in a research report on Tuesday, September 12th. Finally, ValuEngine raised shares of Inovalon Holdings from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th.
In other news, CEO Keith R. Dunleavy acquired 62,000 shares of the business’s stock in a transaction dated Wednesday, September 13th. The shares were purchased at an average price of $16.38 per share, with a total value of $1,015,560.00. Following the transaction, the chief executive officer now directly owns 270,000 shares in the company, valued at $4,422,600. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 48.28% of the company’s stock.
Institutional investors have recently modified their holdings of the company. BNP Paribas Arbitrage SA grew its position in shares of Inovalon Holdings by 336.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,397 shares of the technology company’s stock worth $110,000 after buying an additional 6,472 shares during the last quarter. Advisor Group Inc. grew 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 worth $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 in the 2nd quarter worth approximately $154,000. Principal Financial Group Inc. purchased a new position in shares of Inovalon Holdings in the 2nd quarter worth approximately $157,000. Finally, Bank of Montreal Can grew 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 worth $184,000 after buying an additional 61 shares during the last quarter. 28.67% of the stock is currently owned by hedge funds and other institutional investors.
Inovalon Holdings (INOV) traded up 1.19% during midday trading on Friday, reaching $17.00. 315,641 shares of the company traded hands. The company has a 50 day moving average price of $16.68 and a 200-day moving average price of $16.68. Inovalon Holdings has a one year low of $8.60 and a one year high of $17.80. The stock has a market capitalization of $2.48 billion, a P/E ratio of 142.86 and a beta of 1.31.
Inovalon Holdings (NASDAQ:INOV) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $110.60 million for the quarter, compared to the consensus estimate of $108.73 million. Inovalon Holdings had a net margin of 4.13% and a return on equity of 5.17%. The company’s revenue for the quarter was down 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.14 EPS. Analysts forecast that Inovalon Holdings will post $0.32 EPS for the current fiscal year.
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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