Inovalon Holdings Inc (NASDAQ:INOV) – Analysts at William Blair cut their Q2 2018 earnings per share estimates for shares of Inovalon in a note issued to investors on Tuesday. William Blair analyst R. Daniels now forecasts that the technology company will post earnings of $0.05 per share for the quarter, down from their previous estimate of $0.07. William Blair also issued estimates for Inovalon’s Q4 2018 earnings at $0.07 EPS.
Inovalon (NASDAQ:INOV) last posted its quarterly 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). Inovalon had a return on equity of 4.79% and a net margin of 7.51%. The firm had revenue of $114.60 million for the quarter, compared to the consensus estimate of $116.83 million. During the same period last year, the company posted $0.05 earnings per share. The business’s revenue was up 19.3% compared to the same quarter last year.
Several other analysts have also issued reports on INOV. Zacks Investment Research raised shares of Inovalon from a “sell” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Co reaffirmed a “market perform” rating and set a $14.00 price target (down from $16.00) on shares of Inovalon in a research report on Wednesday. Finally, BidaskClub lowered shares of Inovalon from a “hold” rating to a “sell” rating in a research report on Saturday, December 2nd. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. The company presently has an average rating of “Hold” and an average price target of $13.33.
Shares of Inovalon (NASDAQ INOV) opened at $11.90 on Friday. The company has a current ratio of 4.82, a quick ratio of 5.62 and a debt-to-equity ratio of 0.32. Inovalon has a 1 year low of $10.45 and a 1 year high of $17.80. The stock has a market cap of $1,706.70, a price-to-earnings ratio of 49.59, a price-to-earnings-growth ratio of 3.10 and a beta of 0.94.
In other news, insider Shauna L. Vernal sold 44,270 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $14.00, for a total value of $619,780.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Robert A. Wychulis sold 85,828 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $15.54, for a total transaction of $1,333,767.12. Following the completion of the transaction, the president now directly owns 466,286 shares in the company, valued at $7,246,084.44. The disclosure for this sale can be found here. 48.28% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Oppenheimer Asset Management Inc. raised its position in shares of Inovalon by 3.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 104,171 shares of the technology company’s stock valued at $1,776,000 after purchasing an additional 3,388 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Inovalon by 5.4% in the third quarter. Dimensional Fund Advisors LP now owns 75,204 shares of the technology company’s stock valued at $1,282,000 after purchasing an additional 3,831 shares during the period. Voya Investment Management LLC raised its position in shares of Inovalon by 18.7% in the second quarter. Voya Investment Management LLC now owns 28,393 shares of the technology company’s stock valued at $373,000 after purchasing an additional 4,469 shares during the period. Engineers Gate Manager LP raised its position in shares of Inovalon by 16.5% in the third quarter. Engineers Gate Manager LP now owns 42,877 shares of the technology company’s stock valued at $731,000 after purchasing an additional 6,068 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Inovalon by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 587,103 shares of the technology company’s stock valued at $8,806,000 after purchasing an additional 8,463 shares during the period. 28.05% of the stock is currently owned by institutional investors.
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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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