Shares of Inovalon Holdings Inc (NASDAQ:INOV) have received an average recommendation of “Hold” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $10.50.
Several research analysts recently commented on the stock. BidaskClub upgraded shares of Inovalon from a “hold” rating to a “buy” rating in a report on Saturday, December 1st. ValuEngine upgraded shares of Inovalon from a “hold” rating to a “buy” rating in a report on Friday, November 30th. Zacks Investment Research cut shares of Inovalon from a “hold” rating to a “sell” rating in a report on Wednesday, November 14th. Finally, Wells Fargo & Co dropped their price target on shares of Inovalon from $14.00 to $11.00 and set a “market perform” rating on the stock in a research report on Thursday, November 8th.
Shares of INOV opened at $12.66 on Friday. Inovalon has a 12 month low of $8.90 and a 12 month high of $15.55. The firm has a market cap of $1.94 billion, a P/E ratio of 55.04, a price-to-earnings-growth ratio of 4.16 and a beta of 1.15. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 1.36.
Inovalon (NASDAQ:INOV) last announced its earnings results on Wednesday, November 7th. The technology company reported $0.11 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.01). Inovalon had a positive return on equity of 4.12% and a negative net margin of 2.12%. The business had revenue of $145.81 million for the quarter, compared to analyst estimates of $159.53 million. During the same quarter in the previous year, the company posted $0.09 EPS. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. As a group, equities research analysts predict that Inovalon will post 0.22 EPS for the current year.
In other news, COO Jason Capitel purchased 20,000 shares of the company’s stock in a transaction on Tuesday, November 13th. The shares were purchased at an average cost of $11.06 per share, with a total value of $221,200.00. Following the completion of the transaction, the chief operating officer now owns 357,833 shares of the company’s stock, valued at approximately $3,957,632.98. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 50.93% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Amalgamated Bank bought a new stake in Inovalon during the second quarter worth $105,000. Oppenheimer Asset Management Inc. bought a new position in shares of Inovalon in the third quarter valued at about $108,000. California Public Employees Retirement System raised its position in shares of Inovalon by 93.0% in the second quarter. California Public Employees Retirement System now owns 19,489 shares of the technology company’s stock valued at $193,000 after purchasing an additional 9,389 shares during the period. Jefferies Group LLC raised its position in shares of Inovalon by 29.9% in the third quarter. Jefferies Group LLC now owns 30,981 shares of the technology company’s stock valued at $311,000 after purchasing an additional 7,124 shares during the period. Finally, Cim Investment Mangement Inc. raised its position in shares of Inovalon by 161.9% in the second quarter. Cim Investment Mangement Inc. now owns 41,458 shares of the technology company’s stock valued at $411,000 after purchasing an additional 25,628 shares during the period. 32.83% 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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