Inovalon Holdings, Inc. (NASDAQ:INOV) was upgraded by analysts at TheStreet from a “d+” rating to a “c-” rating in a research note issued on Thursday.
INOV has been the topic of a number of other reports. ValuEngine upgraded shares of Inovalon Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Morgan Stanley upgraded shares of Inovalon Holdings from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $9.00 to $14.00 in a research note on Tuesday, September 12th. BidaskClub lowered shares of Inovalon Holdings from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Robert W. Baird reiterated a “neutral” rating and set a $12.00 price target (up from $11.00) on shares of Inovalon Holdings in a research note on Friday, June 16th. Finally, KeyCorp reiterated a “hold” rating on shares of Inovalon Holdings in a research note on Tuesday, September 12th. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $14.00.
Inovalon Holdings (INOV) remained flat at $17.00 during midday trading on Thursday. The stock had a trading volume of 269,182 shares. The firm’s 50 day moving average price is $16.68 and its 200 day moving average price is $16.68. The company has a market cap of $2.48 billion, a P/E ratio of 142.86 and a beta of 1.31. Inovalon Holdings has a 12 month low of $8.60 and a 12 month high of $17.80.
Inovalon Holdings (NASDAQ:INOV) last issued its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Inovalon Holdings had a net margin of 4.13% and a return on equity of 5.17%. The business had revenue of $110.60 million for the quarter, compared to analyst estimates of $108.73 million. During the same period in the previous year, the business posted $0.14 earnings per share. The business’s revenue was down 10.7% compared to the same quarter last year. On average, equities analysts anticipate that Inovalon Holdings will post $0.32 earnings per share for the current fiscal year.
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In related news, CEO Keith R. Dunleavy acquired 62,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the acquisition, the chief executive officer now owns 270,000 shares in the company, valued at $4,422,600. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 48.28% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in INOV. BNP Paribas Arbitrage SA boosted its holdings in Inovalon Holdings by 336.2% during the second 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 in the last quarter. Advisor Group Inc. boosted its holdings in Inovalon Holdings by 24.8% during the second 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 in the last quarter. Virtu KCG Holdings LLC purchased a new stake in Inovalon Holdings during the second quarter worth about $154,000. Principal Financial Group Inc. purchased a new stake in Inovalon Holdings during the second quarter worth about $157,000. Finally, Bank of Montreal Can boosted its holdings in Inovalon Holdings by 0.4% during the second 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 in the last quarter. 28.67% of the stock is currently owned by hedge funds and other institutional investors.
About Inovalon Holdings
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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