Inovalon (NASDAQ:INOV) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Wednesday, March 7th.
Several other research analysts have also issued reports on INOV. Wells Fargo & Co restated a “market perform” rating and issued a $14.00 price target (down previously from $16.00) on shares of Inovalon in a research report on Wednesday, February 21st. BidaskClub lowered shares of Inovalon from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 14th. Finally, Zacks Investment Research lowered shares of Inovalon from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $12.00.
Shares of Inovalon (INOV) traded up $0.07 during midday trading on Wednesday, reaching $11.27. 67,660 shares of the company’s stock were exchanged, compared to its average volume of 588,438. Inovalon has a 1 year low of $10.70 and a 1 year high of $17.80. The company has a market capitalization of $1,718.38, a PE ratio of 46.67, a P/E/G ratio of 3.40 and a beta of 0.96. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.32.
Inovalon (NASDAQ:INOV) last announced its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). Inovalon had a net margin of 7.51% and a return on equity of 4.79%. The firm had revenue of $114.60 million during the quarter, compared to analyst estimates of $116.83 million. During the same quarter in the previous year, the business posted $0.05 EPS. Inovalon’s revenue for the quarter was up 19.3% compared to the same quarter last year. research analysts anticipate that Inovalon will post 0.25 earnings per share for the current year.
In other Inovalon news, insider Shauna L. Vernal sold 44,270 shares of Inovalon stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $14.00, for a total transaction of $619,780.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 48.28% of the company’s stock.
Large investors have recently modified their holdings of the business. Perceptive Advisors LLC acquired a new stake in shares of Inovalon during the 3rd quarter valued at $511,000. Allianz Asset Management GmbH acquired a new stake in shares of Inovalon in the 3rd quarter valued at $1,293,000. Neuberger Berman Group LLC lifted its stake in shares of Inovalon by 3.1% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,955,690 shares of the technology company’s stock valued at $33,345,000 after purchasing an additional 58,447 shares during the last quarter. Engineers Gate Manager LP lifted its stake in shares of Inovalon by 28.7% in the 4th quarter. Engineers Gate Manager LP now owns 55,191 shares of the technology company’s stock valued at $828,000 after purchasing an additional 12,314 shares during the last quarter. Finally, Citadel Advisors LLC lifted its stake in shares of Inovalon by 167.3% in the 4th quarter. Citadel Advisors LLC now owns 111,580 shares of the technology company’s stock valued at $1,674,000 after purchasing an additional 69,831 shares during the last quarter. 27.92% of the stock is 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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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