Brokerages predict that Inovalon Holdings Inc (NASDAQ:INOV) will report $146.28 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Inovalon’s earnings, with estimates ranging from $138.03 million to $155.10 million. Inovalon reported sales of $110.58 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 32.3%. The company is scheduled to issue its next earnings results on Wednesday, August 1st.
On average, analysts expect that Inovalon will report full-year sales of $561.43 million for the current fiscal year, with estimates ranging from $536.30 million to $580.60 million. For the next fiscal year, analysts forecast that the company will post sales of $643.90 million per share, with estimates ranging from $600.30 million to $668.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Inovalon.
Inovalon (NASDAQ:INOV) last announced its quarterly earnings results on Tuesday, May 8th. The technology company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.10). The company had revenue of $92.76 million for the quarter, compared to analyst estimates of $107.76 million. Inovalon had a return on equity of 2.50% and a net margin of 3.20%. Inovalon’s revenue for the quarter was down 14.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 earnings per share.
A number of equities research analysts have recently commented on INOV shares. Zacks Investment Research upgraded Inovalon from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Tuesday, April 17th. BidaskClub upgraded Inovalon from a “hold” rating to a “buy” rating in a research report on Saturday, July 7th. Finally, ValuEngine upgraded Inovalon from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. Inovalon presently has a consensus rating of “Hold” and an average price target of $12.00.
Shares of NASDAQ:INOV traded down $0.10 during trading on Wednesday, reaching $10.10. 260,400 shares of the company’s stock traded hands, compared to its average volume of 584,219. Inovalon has a fifty-two week low of $8.90 and a fifty-two week high of $17.80. The company has a quick ratio of 4.48, a current ratio of 4.48 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $1.55 billion, a PE ratio of 43.91, a price-to-earnings-growth ratio of 3.76 and a beta of 1.02.
In other Inovalon news, Director Lee D. Roberts bought 10,000 shares of the company’s stock in a transaction dated Friday, June 8th. The shares were purchased at an average cost of $10.54 per share, for a total transaction of $105,400.00. Following the transaction, the director now directly owns 91,804 shares of the company’s stock, valued at $967,614.16. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Keith R. Dunleavy bought 36,753 shares of the company’s stock in a transaction dated Monday, May 14th. The shares were acquired at an average price of $9.97 per share, for a total transaction of $366,427.41. Following the completion of the transaction, the chief executive officer now directly owns 318,753 shares in the company, valued at $3,177,967.41. The disclosure for this purchase can be found here. Insiders have bought a total of 164,753 shares of company stock worth $1,641,207 over the last 90 days. Insiders own 50.93% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Inovalon by 1.1% in the 1st quarter. BlackRock Inc. now owns 4,212,663 shares of the technology company’s stock valued at $44,654,000 after buying an additional 43,955 shares in the last quarter. Summit Partners L P purchased a new position in Inovalon in the 2nd quarter valued at about $34,631,000. Neuberger Berman Group LLC lifted its stake in Inovalon by 47.0% in the 1st quarter. Neuberger Berman Group LLC now owns 3,304,988 shares of the technology company’s stock valued at $35,032,000 after buying an additional 1,056,781 shares in the last quarter. Tikvah Management LLC lifted its stake in Inovalon by 97.2% in the 1st quarter. Tikvah Management LLC now owns 1,963,400 shares of the technology company’s stock valued at $20,812,000 after buying an additional 968,000 shares in the last quarter. Finally, Senvest Management LLC lifted its stake in Inovalon by 22.6% in the 1st quarter. Senvest Management LLC now owns 1,274,700 shares of the technology company’s stock valued at $13,512,000 after buying an additional 235,000 shares in the last quarter. 27.44% of the stock is currently owned by hedge funds and other institutional investors.
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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