Zacks: Analysts Expect Inovalon Holdings Inc (INOV) Will Post Earnings of $0.08 Per Share

Equities research analysts expect Inovalon Holdings Inc (NASDAQ:INOV) to announce earnings per share (EPS) of $0.08 for the current quarter, Zacks reports. Five analysts have made estimates for Inovalon’s earnings, with the lowest EPS estimate coming in at $0.05 and the highest estimate coming in at $0.11. Inovalon also posted earnings per share of $0.08 during the same quarter last year. The business is scheduled to announce its next earnings results on Wednesday, August 1st.

On average, analysts expect that Inovalon will report full-year earnings of $0.31 per share for the current fiscal year, with EPS estimates ranging from $0.16 to $0.38. For the next year, analysts anticipate that the business will post earnings of $0.40 per share, with EPS estimates ranging from $0.22 to $0.49. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Inovalon.

Inovalon (NASDAQ:INOV) last issued its quarterly earnings data on Tuesday, May 8th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.10). The business had revenue of $92.76 million during the quarter, compared to the consensus estimate of $107.76 million. Inovalon had a return on equity of 2.50% and a net margin of 3.20%. The business’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same period last year, the company earned $0.07 earnings per share.

INOV has been the subject of a number of research reports. Zacks Investment Research raised Inovalon from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Tuesday, April 17th. TheStreet raised Inovalon from a “d+” rating to a “c” rating in a research note on Thursday, March 15th. BidaskClub raised Inovalon from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. ValuEngine raised Inovalon from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, Morgan Stanley lowered Inovalon from an “equal weight” rating to an “underweight” rating and set a $10.00 price target for the company. in a research note on Wednesday, March 14th. Three investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The company has a consensus rating of “Hold” and an average price target of $12.00.

NASDAQ INOV traded down $0.30 on Thursday, reaching $9.95. 360,261 shares of the stock traded hands, compared to its average volume of 614,431. The company has a debt-to-equity ratio of 0.31, a quick ratio of 4.48 and a current ratio of 4.48. The firm has a market cap of $1.56 billion, a P/E ratio of 43.26, a PEG ratio of 3.77 and a beta of 1.02. Inovalon has a 12 month low of $8.90 and a 12 month high of $17.80.

In related news, CEO Keith R. Dunleavy acquired 36,753 shares of Inovalon stock in a transaction dated Monday, May 14th. The stock was acquired at an average cost of $9.97 per share, with a total value of $366,427.41. Following the purchase, the chief executive officer now directly owns 318,753 shares in the company, valued at approximately $3,177,967.41. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Lee D. Roberts acquired 10,000 shares of Inovalon stock in a transaction dated Friday, June 8th. The shares were bought at an average cost of $10.54 per share, with a total value of $105,400.00. Following the completion of the purchase, the director now owns 91,804 shares in the company, valued at $967,614.16. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 164,753 shares of company stock valued at $1,641,207. 50.93% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in INOV. Victory Capital Management Inc. bought a new stake in shares of Inovalon during the 1st quarter worth $181,000. Quantbot Technologies LP boosted its stake in shares of Inovalon by 395.7% during the 1st quarter. Quantbot Technologies LP now owns 17,666 shares of the technology company’s stock worth $187,000 after acquiring an additional 14,102 shares in the last quarter. Xact Kapitalforvaltning AB bought a new stake in shares of Inovalon during the 1st quarter worth $234,000. Teacher Retirement System of Texas bought a new stake in shares of Inovalon during the 4th quarter worth $294,000. Finally, Macquarie Group Ltd. boosted its stake in shares of Inovalon by 877.8% during the 4th quarter. Macquarie Group Ltd. now owns 26,400 shares of the technology company’s stock worth $396,000 after acquiring an additional 23,700 shares in the last quarter. 28.04% of the stock is owned by institutional investors and hedge funds.

About Inovalon

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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