Inovalon (NASDAQ:INOV) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday, December 2nd.
A number of other analysts also recently issued reports on the company. Zacks Investment Research downgraded Inovalon from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. TheStreet raised Inovalon from a “d+” rating to a “c-” rating in a research report on Thursday, October 5th. KeyCorp reissued a “hold” rating on shares of Inovalon in a research report on Tuesday, September 12th. Morgan Stanley raised Inovalon from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $9.00 to $14.00 in a research report on Tuesday, September 12th. Finally, ValuEngine upgraded Inovalon from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Three equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.00.
Inovalon (INOV) traded down $0.05 during mid-day trading on Friday, hitting $15.30. The stock had a trading volume of 360,300 shares, compared to its average volume of 565,830. Inovalon has a 52 week low of $8.60 and a 52 week high of $17.80. The company has a quick ratio of 5.62, a current ratio of 5.62 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $2,210.00 and a price-to-earnings ratio of 72.86.
Inovalon (NASDAQ:INOV) last issued its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.09 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.01. The business had revenue of $115.90 million for the quarter, compared to analyst estimates of $114.79 million. Inovalon had a return on equity of 4.63% and a net margin of 4.07%. Inovalon’s quarterly revenue was up 10.4% compared to the same quarter last year. During the same period last year, the company posted $0.10 earnings per share. 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 the firm’s stock in a transaction 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 transaction, the president now directly owns 466,286 shares of the company’s stock, valued at approximately $7,246,084.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Shauna L. Vernal sold 5,908 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $16.01, for a total value of $94,587.08. Following the completion of the transaction, the insider now directly 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 corporate insiders.
A number of hedge funds have recently modified their holdings of INOV. BNP Paribas Arbitrage SA increased its stake in Inovalon by 336.2% in the 2nd 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. increased its stake in Inovalon by 24.8% in the 2nd 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 in the 2nd quarter worth $154,000. Principal Financial Group Inc. purchased a new position in shares of Inovalon during the second quarter valued at about $157,000. Finally, Bank of Montreal Can grew its position in shares of Inovalon by 0.4% during the second quarter. Bank of Montreal Can now owns 14,006 shares of the technology company’s stock valued at $184,000 after purchasing an additional 61 shares in the last quarter. Institutional investors and hedge funds own 28.09% of the company’s stock.
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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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