Inovalon (INOV) Upgraded to Hold by ValuEngine

ValuEngine upgraded shares of Inovalon (NASDAQ:INOV) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.

Several other analysts have also issued reports on INOV. BidaskClub upgraded shares of Inovalon from a hold rating to a buy rating in a research report on Saturday, October 13th. Zacks Investment Research upgraded shares of Inovalon from a hold rating to a buy rating and set a $11.00 price target on the stock in a research report on Wednesday, October 10th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Inovalon has a consensus rating of Hold and a consensus price target of $11.67.

Shares of INOV traded down $0.21 during mid-day trading on Wednesday, hitting $10.28. 3,336 shares of the company’s stock were exchanged, compared to its average volume of 540,666. Inovalon has a 52 week low of $8.90 and a 52 week high of $17.42. The stock has a market capitalization of $1.53 billion, a PE ratio of 44.96, a P/E/G ratio of 2.55 and a beta of 1.11. 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 (NASDAQ:INOV) last posted its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.08. The business had revenue of $152.80 million for the quarter, compared to analyst estimates of $147.09 million. Inovalon had a negative net margin of 0.40% and a positive return on equity of 3.69%. The firm’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same quarter last year, the business posted $0.08 EPS. Equities research analysts predict that Inovalon will post 0.28 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its position in shares of Inovalon by 372.5% during the 2nd quarter. FMR LLC now owns 4,770,907 shares of the technology company’s stock worth $47,351,000 after acquiring an additional 3,761,107 shares in the last quarter. BlackRock Inc. boosted its position in Inovalon by 12.0% in the second quarter. BlackRock Inc. now owns 4,717,964 shares of the technology company’s stock valued at $46,824,000 after buying an additional 505,301 shares in the last quarter. Summit Partners L P acquired a new stake in Inovalon in the second quarter valued at approximately $34,631,000. Northern Trust Corp boosted its position in Inovalon by 7.9% in the second quarter. Northern Trust Corp now owns 913,675 shares of the technology company’s stock valued at $9,068,000 after buying an additional 67,056 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. boosted its position in Inovalon by 9.5% in the second quarter. Prescott Group Capital Management L.L.C. now owns 689,434 shares of the technology company’s stock valued at $6,843,000 after buying an additional 60,000 shares in the last quarter. Institutional investors and hedge funds own 33.99% of the company’s stock.

About Inovalon

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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