Brokerages expect Inovalon Holdings Inc (NASDAQ:INOV) to post sales of $156.10 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Inovalon’s earnings. The highest sales estimate is $157.23 million and the lowest is $155.30 million. Inovalon posted sales of $152.80 million in the same quarter last year, which suggests a positive year-over-year growth rate of 2.2%. The business is expected to announce its next quarterly earnings report on Wednesday, August 7th.
On average, analysts expect that Inovalon will report full year sales of $641.68 million for the current year, with estimates ranging from $636.27 million to $646.10 million. For the next fiscal year, analysts forecast that the business will post sales of $696.45 million, with estimates ranging from $682.26 million to $714.90 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Inovalon.
Inovalon (NASDAQ:INOV) last issued its earnings results on Wednesday, May 1st. The technology company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.03. Inovalon had a negative net margin of 5.28% and a positive return on equity of 6.43%. The firm had revenue of $145.50 million for the quarter, compared to the consensus estimate of $143.75 million. During the same quarter in the prior year, the firm posted ($0.04) earnings per share. The business’s revenue was up 56.8% on a year-over-year basis.
A number of brokerages have recently issued reports on INOV. BidaskClub cut shares of Inovalon from a “hold” rating to a “sell” rating in a research note on Thursday, April 11th. Zacks Investment Research raised shares of Inovalon from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Tuesday, May 7th. Finally, ValuEngine raised shares of Inovalon from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Inovalon has an average rating of “Hold” and an average target price of $15.50.
In related news, CEO Keith R. Dunleavy acquired 60,801 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was bought at an average price of $13.60 per share, for a total transaction of $826,893.60. Following the acquisition, the chief executive officer now directly owns 460,801 shares of the company’s stock, valued at approximately $6,266,893.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Keith R. Dunleavy acquired 136,995 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were bought at an average price of $13.41 per share, with a total value of $1,837,102.95. Following the acquisition, the chief executive officer now directly owns 460,801 shares in the company, valued at $6,179,341.41. The disclosure for this purchase can be found here. 50.44% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC increased its position in Inovalon by 39.2% during the 4th quarter. FMR LLC now owns 6,701,752 shares of the technology company’s stock valued at $95,031,000 after purchasing an additional 1,885,737 shares during the period. BlackRock Inc. lifted its stake in Inovalon by 2.4% during the 4th quarter. BlackRock Inc. now owns 5,246,542 shares of the technology company’s stock valued at $74,394,000 after acquiring an additional 124,621 shares during the period. Geode Capital Management LLC lifted its stake in Inovalon by 12.6% during the 4th quarter. Geode Capital Management LLC now owns 808,771 shares of the technology company’s stock valued at $11,468,000 after acquiring an additional 90,562 shares during the period. Bank of New York Mellon Corp lifted its stake in Inovalon by 5.7% during the 4th quarter. Bank of New York Mellon Corp now owns 791,803 shares of the technology company’s stock valued at $11,228,000 after acquiring an additional 42,587 shares during the period. Finally, California State Teachers Retirement System lifted its stake in Inovalon by 0.4% during the 4th quarter. California State Teachers Retirement System now owns 676,995 shares of the technology company’s stock valued at $8,389,000 after acquiring an additional 2,557 shares during the period. Institutional investors own 32.33% of the company’s stock.
INOV stock traded down $0.19 during midday trading on Wednesday, reaching $15.00. 10,276 shares of the company’s stock traded hands, compared to its average volume of 461,457. Inovalon has a 52-week low of $9.19 and a 52-week high of $15.65. The company has a market cap of $2.33 billion, a PE ratio of 83.06, a P/E/G ratio of 2.90 and a beta of 0.64. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 1.46. The stock’s 50-day moving average is $14.25.
Inovalon Company Profile
Inovalon Holdings, Inc, a technology company, provides cloud-based platforms empowering data-driven healthcare. It operates the Inovalon ONE Platform, a cloud-based platform that interconnect with the healthcare ecosystem to aggregate and analyze data in real-time, as well as empowers the application in resulting insights.
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