Inovalon (NASDAQ:INOV) Lowered to Underweight at Morgan Stanley

Morgan Stanley downgraded shares of Inovalon (NASDAQ:INOV) from an equal weight rating to an underweight rating in a research report sent to investors on Wednesday, March 14th, Marketbeat reports. Morgan Stanley currently has $10.00 price objective on the technology company’s stock.

INOV has been the subject of a number of other research reports. Zacks Investment Research upgraded Inovalon from a sell rating to a hold rating in a research report on Wednesday, January 3rd. BidaskClub downgraded Inovalon from a hold rating to a sell rating in a research note on Saturday, December 2nd. ValuEngine downgraded Inovalon from a hold rating to a sell rating in a research note on Wednesday, March 7th. Finally, Wells Fargo reissued a market perform rating and issued a $14.00 price objective (down previously from $16.00) on shares of Inovalon in a research note on Wednesday, February 21st. Three investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $12.00.

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NASDAQ INOV traded down $0.20 during mid-day trading on Wednesday, reaching $10.30. 758,867 shares of the company’s stock traded hands, compared to its average volume of 703,459. Inovalon has a 1-year low of $10.10 and a 1-year high of $17.80. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.32. The firm has a market cap of $1,516.22, a PE ratio of 44.78, a price-to-earnings-growth ratio of 2.94 and a beta of 1.03.

Inovalon (NASDAQ:INOV) last issued its 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 return on equity of 4.79% and a net margin of 7.51%. 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 was up 19.3% compared to the same quarter last year. analysts anticipate that Inovalon will post 0.25 earnings per share for the current year.

In related news, insider Shauna L. Vernal sold 44,270 shares of Inovalon stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $14.00, for a total value of $619,780.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 48.28% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. FNY Managed Accounts LLC purchased a new position in Inovalon in the fourth quarter valued at about $150,000. Creative Planning purchased a new position in Inovalon in the fourth quarter valued at about $152,000. Teacher Retirement System of Texas purchased a new position in Inovalon in the fourth quarter valued at about $294,000. Macquarie Group Ltd. grew its stake in Inovalon by 877.8% in the fourth quarter. Macquarie Group Ltd. now owns 26,400 shares of the technology company’s stock valued at $396,000 after purchasing an additional 23,700 shares in the last quarter. Finally, Smith Asset Management Group LP purchased a new position in Inovalon in the fourth quarter valued at about $436,000. Hedge funds and other institutional investors own 27.91% of the company’s stock.

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Inovalon Company Profile

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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