Inovalon (INOV) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Inovalon (NASDAQ:INOV) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.

According to Zacks, “Inovalon Holdings, Inc. is a technology company which provides cloud-based data analytics and data-driven intervention platforms for healthcare sector. The company operates through IT and services group. IT operations group manages the process steps from data receipt through to the generation of analytical outputs and services operations group manages the process steps applied to achieve impact through its data-driven intervention platforms. It serves health plans, hospitals, physicians, patients, pharmaceutical companies and researchers. Inovalon Holdings, Inc. is headquartered in Bowie, Maryland. “

Several other brokerages also recently weighed in on INOV. KeyCorp reiterated a hold rating on shares of Inovalon in a research note on Tuesday, September 12th. TheStreet upgraded Inovalon from a d+ rating to a c- rating in a research note on Thursday, October 5th. BidaskClub downgraded Inovalon from a hold rating to a sell rating in a research note on Saturday, December 2nd. Finally, Morgan Stanley upgraded Inovalon from an underweight rating to an equal weight rating and lifted their price target for the company from $9.00 to $14.00 in a research note on Tuesday, September 12th. Three investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $12.00.

Shares of Inovalon (INOV) traded up $0.40 during mid-day trading on Wednesday, hitting $14.05. The company’s stock had a trading volume of 379,487 shares, compared to its average volume of 664,572. Inovalon has a one year low of $10.45 and a one year high of $17.80. The stock has a market cap of $2,050.00 and a P/E ratio of 117.08. The company has a quick ratio of 5.62, a current ratio of 5.62 and a debt-to-equity ratio of 0.31.

Inovalon (NASDAQ:INOV) last announced its earnings results on Wednesday, November 1st. The technology company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. Inovalon had a return on equity of 4.63% and a net margin of 4.07%. The company had revenue of $115.90 million for the quarter, compared to the consensus estimate of $114.79 million. During the same period last year, the business posted $0.10 EPS. The company’s revenue was up 10.4% on a year-over-year basis. research analysts expect that Inovalon will post 0.24 EPS for the current year.

In related news, President Robert A. Wychulis sold 85,828 shares of Inovalon stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $15.54, for a total value of $1,333,767.12. Following the sale, the president now directly owns 466,286 shares in the company, valued at $7,246,084.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Shauna L. Vernal sold 5,908 shares of Inovalon stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $16.01, for a total value of $94,587.08. Following the completion of the sale, the insider now owns 47,309 shares in the company, valued at $757,417.09. The disclosure for this sale can be found here. 48.28% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of INOV. BNP Paribas Arbitrage SA boosted its stake in shares of Inovalon by 336.2% in the second quarter. BNP Paribas Arbitrage SA now owns 8,397 shares of the technology company’s stock valued at $110,000 after buying an additional 6,472 shares in the last quarter. Advisor Group Inc. boosted its stake in shares of Inovalon by 24.8% in the second 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 in the last quarter. Virtu KCG Holdings LLC purchased a new stake in shares of Inovalon in the second quarter valued at approximately $154,000. Principal Financial Group Inc. purchased a new stake in shares of Inovalon in the second quarter valued at approximately $157,000. Finally, Legal & General Group Plc boosted its stake in shares of Inovalon by 2,696.8% in the second quarter. Legal & General Group Plc now owns 16,417 shares of the technology company’s stock valued at $216,000 after buying an additional 15,830 shares in the last quarter. Hedge funds and other institutional investors own 28.08% of the company’s stock.

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About Inovalon

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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