Schwab Charles Investment Management Inc. increased its holdings in Inovalon (NASDAQ:INOV) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 317,267 shares of the technology company’s stock after purchasing an additional 11,062 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.22% of Inovalon worth $4,760,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Creative Planning purchased a new stake in Inovalon in the fourth quarter worth about $152,000. Neuberger Berman Group LLC lifted its stake in Inovalon by 3.1% in the third quarter. Neuberger Berman Group LLC now owns 1,955,690 shares of the technology company’s stock worth $33,345,000 after acquiring an additional 58,447 shares during the period. Perceptive Advisors LLC purchased a new stake in Inovalon in the third quarter worth about $511,000. Oppenheimer Asset Management Inc. lifted its stake in Inovalon by 3.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 104,171 shares of the technology company’s stock worth $1,776,000 after acquiring an additional 3,388 shares during the period. Finally, Allianz Asset Management GmbH purchased a new stake in Inovalon in the third quarter worth about $1,293,000. Institutional investors and hedge funds own 27.91% of the company’s stock.
In other news, insider Shauna L. Vernal sold 44,270 shares of the stock in a transaction that occurred on Tuesday, January 23rd. The stock was 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 SEC, which is available at the SEC website. Company insiders own 48.28% of the company’s stock.
Several analysts have commented on the stock. ValuEngine lowered shares of Inovalon from a “hold” rating to a “sell” rating in a research report on Wednesday, March 14th. Wells Fargo reissued 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, February 21st. BidaskClub lowered shares of Inovalon from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 14th. TheStreet raised shares of Inovalon from a “d+” rating to a “c” rating in a research report on Thursday, March 15th. Finally, Morgan Stanley lowered shares of Inovalon from an “equal weight” rating to an “underweight” rating and set a $10.00 price objective for the company. in a research report on Wednesday, March 14th. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $12.00.
Shares of NASDAQ INOV traded down $0.20 during midday trading on Friday, reaching $10.30. 758,867 shares of the stock were exchanged, compared to its average volume of 703,459. The stock has a market capitalization of $1,516.22, a price-to-earnings ratio of 44.78, a PEG ratio of 2.94 and a beta of 1.03. Inovalon has a twelve month low of $10.10 and a twelve month high of $17.80. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.82 and a quick ratio of 4.82.
Inovalon (NASDAQ:INOV) last issued its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $114.60 million for the quarter, compared to analyst estimates of $116.83 million. Inovalon had a return on equity of 4.79% and a net margin of 7.51%. Inovalon’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.05 EPS. analysts anticipate that Inovalon will post 0.25 earnings per share for the current fiscal year.
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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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