Inovalon Holdings Inc (NASDAQ:INOV) – Investment analysts at KeyCorp reduced their Q2 2018 earnings estimates for Inovalon in a research report issued to clients and investors on Tuesday. KeyCorp analyst D. Hooker now expects that the technology company will earn $0.05 per share for the quarter, down from their prior estimate of $0.07. KeyCorp also issued estimates for Inovalon’s Q3 2018 earnings at $0.11 EPS and Q4 2018 earnings at $0.10 EPS.
Several other equities analysts have also issued reports on the company. BidaskClub lowered Inovalon from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 14th. Zacks Investment Research cut Inovalon from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Finally, Wells Fargo & Co restated a “market perform” rating and issued a $14.00 target price (down previously from $16.00) on shares of Inovalon in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating and six have given a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $13.33.
Shares of Inovalon (INOV) traded up $0.02 on Friday, hitting $11.70. The company had a trading volume of 927,200 shares, compared to its average volume of 529,273. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.62 and a quick ratio of 5.62. Inovalon has a 1-year low of $10.99 and a 1-year high of $17.80. The firm has a market cap of $1,730.00 and a price-to-earnings ratio of 91.92.
Inovalon (NASDAQ:INOV) last posted its earnings results on Tuesday, February 20th. The technology company reported $0.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.01). The company had revenue of $114.60 million for the quarter, compared to analyst estimates of $116.83 million. Inovalon had a return on equity of 4.76% and a net margin of 7.51%. Inovalon’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.05 earnings per share.
In other Inovalon news, President Robert A. Wychulis sold 85,828 shares of the company’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 accessible through this link. Also, insider Shauna L. Vernal sold 44,270 shares of the company’s stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $14.00, for a total value of $619,780.00. The disclosure for this sale can be found here. 48.28% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. Senvest Management LLC raised its position in shares of Inovalon by 138.6% during the third quarter. Senvest Management LLC now owns 1,009,700 shares of the technology company’s stock worth $17,215,000 after acquiring an additional 586,500 shares during the last quarter. State Street Corp grew its stake in Inovalon by 59.1% in the second quarter. State Street Corp now owns 1,151,392 shares of the technology company’s stock valued at $15,140,000 after acquiring an additional 427,528 shares during the period. Renaissance Technologies LLC acquired a new stake in Inovalon in the fourth quarter valued at approximately $4,055,000. Deutsche Bank AG grew its stake in Inovalon by 187.8% in the fourth quarter. Deutsche Bank AG now owns 244,503 shares of the technology company’s stock valued at $3,666,000 after acquiring an additional 159,534 shares during the period. Finally, Vanguard Group Inc. grew its stake in Inovalon by 3.1% in the second quarter. Vanguard Group Inc. now owns 4,960,754 shares of the technology company’s stock valued at $65,234,000 after acquiring an additional 151,473 shares during the period. Institutional investors and hedge funds own 28.05% 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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