Inovalon Holdings Inc (INOV) Holdings Lifted by Fmr LLC

Fmr LLC raised its stake in shares of Inovalon Holdings Inc (NASDAQ:INOV) by 372.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,770,907 shares of the technology company’s stock after purchasing an additional 3,761,107 shares during the quarter. Fmr LLC owned about 3.13% of Inovalon worth $47,351,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Amalgamated Bank acquired a new position in Inovalon during the 2nd quarter valued at approximately $105,000. Hartford Investment Management Co. acquired a new position in Inovalon during the 2nd quarter valued at approximately $138,000. Victory Capital Management Inc. acquired a new position in Inovalon during the 1st quarter valued at approximately $181,000. Quantbot Technologies LP increased its stake in Inovalon by 395.7% during the 1st quarter. Quantbot Technologies LP now owns 17,666 shares of the technology company’s stock valued at $187,000 after purchasing an additional 14,102 shares in the last quarter. Finally, Xact Kapitalforvaltning AB acquired a new position in Inovalon during the 1st quarter valued at approximately $234,000. Institutional investors and hedge funds own 33.99% of the company’s stock.

Several analysts have recently commented on INOV shares. BidaskClub raised shares of Inovalon from a “hold” rating to a “buy” rating in a report on Saturday, July 7th. ValuEngine raised shares of Inovalon from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Zacks Investment Research raised shares of Inovalon from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 11th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $12.67.

INOV stock opened at $10.60 on Wednesday. The firm has a market capitalization of $1.63 billion, a PE ratio of 45.65, a price-to-earnings-growth ratio of 2.70 and a beta of 1.10. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.38. Inovalon Holdings Inc has a 12 month low of $8.90 and a 12 month high of $17.70.

Inovalon (NASDAQ:INOV) last released its quarterly earnings data on Wednesday, August 1st. The technology company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.05 by $0.08. The business had revenue of $152.80 million for the quarter, compared to the consensus estimate of $147.09 million. Inovalon had a negative net margin of 0.40% and a positive return on equity of 3.69%. The business’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS. research analysts expect that Inovalon Holdings Inc will post 0.28 EPS for the current fiscal year.

Inovalon Company Profile

Inovalon Holdings, Inc, a technology company, provides cloud-based platforms empowering a data-driven transformation from volume-based to value-based models in the healthcare industry. The company's platform enables the assessment and enhancement of clinical and quality outcomes and financial performance.

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Institutional Ownership by Quarter for Inovalon (NASDAQ:INOV)

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