Inovalon (INOV) Upgraded at TheStreet

TheStreet upgraded shares of Inovalon (NASDAQ:INOV) from a d+ rating to a c rating in a report released on Thursday.

Other analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Inovalon from a hold rating to a sell rating in a report on Wednesday. Wells Fargo reiterated a market perform rating and issued a $14.00 price objective (down previously from $16.00) on shares of Inovalon in a report on Wednesday, February 21st. BidaskClub downgraded shares of Inovalon from a sell rating to a strong sell rating in a report on Thursday, December 14th. Morgan Stanley downgraded shares of Inovalon from an equal weight rating to an underweight rating and set a $10.00 price objective for the company. in a report on Wednesday. Finally, Zacks Investment Research downgraded shares of Inovalon from a hold rating to a sell rating in a report on Wednesday, January 10th. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Inovalon has a consensus rating of Hold and an average price target of $12.00.

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Shares of Inovalon (NASDAQ INOV) opened at $10.95 on Thursday. The company has a market cap of $1,610.08, a PE ratio of 45.63, a price-to-earnings-growth ratio of 3.19 and a beta of 0.96. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.32. Inovalon has a 1-year low of $10.70 and a 1-year high of $17.80.

Inovalon (NASDAQ:INOV) last released its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.06 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.01). The business had revenue of $114.60 million during the quarter, compared to analyst estimates of $116.83 million. Inovalon had a net margin of 7.51% and a return on equity of 4.79%. The firm’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.05 EPS. equities research analysts expect that Inovalon will post 0.25 earnings per share for the current year.

In other news, insider Shauna L. Vernal sold 44,270 shares of the firm’s stock in a transaction that occurred on Tuesday, January 23rd. The shares were sold at an average price of $14.00, for a total transaction of $619,780.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 48.28% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. increased its holdings in shares of Inovalon by 3.4% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 104,171 shares of the technology company’s stock worth $1,776,000 after buying an additional 3,388 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Inovalon by 5.4% during the 3rd quarter. Dimensional Fund Advisors LP now owns 75,204 shares of the technology company’s stock worth $1,282,000 after purchasing an additional 3,831 shares during the period. Engineers Gate Manager LP boosted its position in shares of Inovalon by 16.5% during the 3rd quarter. Engineers Gate Manager LP now owns 42,877 shares of the technology company’s stock worth $731,000 after purchasing an additional 6,068 shares during the period. Geode Capital Management LLC boosted its position in shares of Inovalon by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 587,103 shares of the technology company’s stock worth $8,806,000 after purchasing an additional 8,463 shares during the period. Finally, FNY Managed Accounts LLC purchased a new position in shares of Inovalon during the 4th quarter worth approximately $150,000. Institutional investors and hedge funds own 27.92% of the company’s stock.

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Inovalon 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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