Shares of Inovalon Holdings Inc (NASDAQ:INOV) have been given a consensus rating of “Hold” by the six research firms that are presently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $17.00.
Several equities research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Inovalon from a “buy” rating to a “hold” rating in a research report on Saturday, August 24th. BidaskClub lowered shares of Inovalon from a “buy” rating to a “hold” rating in a research note on Tuesday, June 11th. Morgan Stanley upped their price objective on shares of Inovalon from $14.00 to $18.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Finally, ValuEngine upgraded shares of Inovalon from a “hold” rating to a “buy” rating in a research note on Wednesday.
Institutional investors have recently added to or reduced their stakes in the business. Isthmus Partners LLC increased its stake in Inovalon by 516.8% in the 2nd quarter. Isthmus Partners LLC now owns 95,777 shares of the technology company’s stock valued at $1,390,000 after buying an additional 80,250 shares during the period. We Are One Seven LLC acquired a new position in shares of Inovalon during the 2nd quarter worth $393,000. Bernzott Capital Advisors acquired a new position in shares of Inovalon during the 2nd quarter worth $20,519,000. First Trust Advisors LP acquired a new position in shares of Inovalon during the 2nd quarter worth $2,309,000. Finally, Aperio Group LLC increased its stake in shares of Inovalon by 10.0% during the 2nd quarter. Aperio Group LLC now owns 20,321 shares of the technology company’s stock worth $295,000 after purchasing an additional 1,848 shares during the last quarter. Hedge funds and other institutional investors own 32.81% of the company’s stock.
Shares of NASDAQ:INOV traded down $0.16 during mid-day trading on Friday, hitting $17.34. The stock had a trading volume of 487,738 shares, compared to its average volume of 561,948. The company has a debt-to-equity ratio of 1.49, a quick ratio of 2.03 and a current ratio of 2.03. The company has a market cap of $2.70 billion, a PE ratio of 96.33, a P/E/G ratio of 3.28 and a beta of 0.59. Inovalon has a 12-month low of $9.19 and a 12-month high of $17.80. The company’s 50 day moving average is $16.23 and its 200-day moving average is $14.20.
Inovalon (NASDAQ:INOV) last issued its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.11 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.03. The business had revenue of $156.98 million during the quarter, compared to the consensus estimate 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 quarterly revenue was up 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.13 EPS. On average, equities research analysts predict that Inovalon will post 0.38 EPS for the current fiscal year.
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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