Equities research analysts predict that Inovalon Holdings Inc (NASDAQ:INOV) will announce $0.10 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Inovalon’s earnings. The lowest EPS estimate is $0.08 and the highest is $0.11. Inovalon reported earnings per share of $0.13 during the same quarter last year, which indicates a negative year over year growth rate of 23.1%. The firm is scheduled to report its next quarterly earnings results on Wednesday, July 29th.
On average, analysts expect that Inovalon will report full-year earnings of $0.56 per share for the current financial year, with EPS estimates ranging from $0.55 to $0.57. For the next financial year, analysts forecast that the business will post earnings of $0.67 per share, with EPS estimates ranging from $0.63 to $0.70. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that that provide coverage for Inovalon.
Inovalon (NASDAQ:INOV) last issued its earnings results on Wednesday, April 29th. The technology company reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. The firm had revenue of $154.19 million for the quarter, compared to the consensus estimate of $158.97 million. Inovalon had a net margin of 2.14% and a return on equity of 9.17%. The business’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.10 earnings per share.
Several research analysts have recently weighed in on the stock. SunTrust Banks decreased their price objective on shares of Inovalon from $26.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, March 26th. Guggenheim boosted their price objective on shares of Inovalon from $22.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Wells Fargo & Co reduced their target price on shares of Inovalon from $22.00 to $20.00 and set an “equal weight” rating for the company in a report on Thursday, April 30th. SVB Leerink assumed coverage on shares of Inovalon in a report on Monday, April 13th. They set an “outperform” rating and a $21.00 target price for the company. Finally, BidaskClub raised shares of Inovalon from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $19.50.
Shares of INOV traded down $0.10 during mid-day trading on Tuesday, hitting $18.50. 353,200 shares of the company traded hands, compared to its average volume of 522,078. The company has a debt-to-equity ratio of 1.56, a quick ratio of 2.90 and a current ratio of 2.90. The stock has a 50-day moving average price of $18.42 and a two-hundred day moving average price of $18.37. Inovalon has a 1 year low of $13.39 and a 1 year high of $22.99. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 205.58, a P/E/G ratio of 2.38 and a beta of 0.68.
In related news, COO Jason Capitel sold 15,000 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $19.28, for a total transaction of $289,200.00. Following the completion of the transaction, the chief operating officer now owns 596,504 shares in the company, valued at $11,500,597.12. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 50.44% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. State Street Corp lifted its position in Inovalon by 1.2% during the first quarter. State Street Corp now owns 1,484,757 shares of the technology company’s stock valued at $24,736,000 after purchasing an additional 17,834 shares during the last quarter. Royal Bank of Canada lifted its position in Inovalon by 20.9% during the first quarter. Royal Bank of Canada now owns 14,499 shares of the technology company’s stock valued at $242,000 after purchasing an additional 2,503 shares during the last quarter. AXA lifted its position in Inovalon by 65.7% during the first quarter. AXA now owns 41,100 shares of the technology company’s stock valued at $685,000 after purchasing an additional 16,300 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its position in Inovalon by 16.7% during the first quarter. Public Employees Retirement Association of Colorado now owns 10,775 shares of the technology company’s stock valued at $180,000 after purchasing an additional 1,542 shares during the last quarter. Finally, Advisor Group Holdings Inc. bought a new position in Inovalon during the first quarter valued at $217,000. Institutional investors and hedge funds own 33.06% of the company’s stock.
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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