Inovalon (NASDAQ:INOV) Cut to “Sell” at ValuEngine

ValuEngine downgraded shares of Inovalon (NASDAQ:INOV) from a hold rating to a sell rating in a research report report published on Tuesday, ValuEngine reports.

Several other equities research analysts have also recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of Inovalon from $14.00 to $18.00 and gave the company an equal weight rating in a research report on Friday, August 23rd. Zacks Investment Research cut shares of Inovalon from a buy rating to a hold rating in a research report on Friday, October 11th. Finally, SunTrust Banks set a $22.00 price objective on shares of Inovalon and gave the company a buy rating in a research report on Monday, September 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Inovalon has an average rating of Hold and an average target price of $17.80.

NASDAQ INOV opened at $14.81 on Tuesday. Inovalon has a 12 month low of $9.19 and a 12 month high of $17.80. The stock has a market cap of $2.32 billion, a price-to-earnings ratio of 82.28, a PEG ratio of 4.92 and a beta of 0.58. The company’s 50 day moving average is $16.12 and its two-hundred day moving average is $14.78. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 1.49.

Inovalon (NASDAQ:INOV) last released its earnings results on Wednesday, July 31st. The technology company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The company had revenue of $156.98 million for the quarter, compared to analysts’ expectations of $155.72 million. Inovalon had a negative net margin of 2.70% and a positive return on equity of 6.39%. The firm’s revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.13 EPS. Sell-side analysts forecast that Inovalon will post 0.38 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in INOV. Bernzott Capital Advisors bought a new stake in shares of Inovalon during the second quarter valued at approximately $20,519,000. Nuveen Asset Management LLC bought a new stake in shares of Inovalon during the second quarter valued at approximately $4,998,000. First Trust Advisors LP bought a new stake in shares of Inovalon during the second quarter valued at approximately $2,309,000. Cowen Prime Services LLC increased its position in Inovalon by 21.1% in the second quarter. Cowen Prime Services LLC now owns 741,000 shares of the technology company’s stock worth $10,752,000 after purchasing an additional 129,250 shares during the last quarter. Finally, Isthmus Partners LLC increased its position in Inovalon by 516.8% in the second quarter. Isthmus Partners LLC now owns 95,777 shares of the technology company’s stock worth $1,390,000 after purchasing an additional 80,250 shares during the last quarter. Hedge funds and other institutional investors own 32.81% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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