According to Zacks, “Inovalon Holdings, Inc. is a technology company which provides cloud-based data analytics and data-driven intervention platforms for healthcare sector. The company operates through IT and services group. IT operations group manages the process steps from data receipt through to the generation of analytical outputs and services operations group manages the process steps applied to achieve impact through its data-driven intervention platforms. It serves health plans, hospitals, physicians, patients, pharmaceutical companies and researchers. Inovalon Holdings, Inc. is headquartered in Bowie, Maryland. “
A number of other equities analysts also recently commented on INOV. Morgan Stanley upgraded Inovalon from an underweight rating to an equal weight rating and lifted their target price for the company from $10.00 to $13.00 in a research note on Thursday, December 20th. BidaskClub downgraded Inovalon from a buy rating to a hold rating in a research note on Saturday, February 9th. SunTrust Banks started coverage on Inovalon in a research note on Friday, February 15th. They issued a buy rating and a $22.00 target price for the company. Finally, ValuEngine downgraded Inovalon from a buy rating to a hold rating in a research note on Thursday, March 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $15.50.
Shares of INOV stock opened at $12.62 on Thursday. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.93 and a quick ratio of 1.93. Inovalon has a 52 week low of $8.90 and a 52 week high of $15.57. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 70.11, a P/E/G ratio of 2.73 and a beta of 0.67.
Inovalon (NASDAQ:INOV) last issued its earnings results on Wednesday, February 20th. The technology company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.02). Inovalon had a negative net margin of 7.32% and a positive return on equity of 3.88%. The company had revenue of $136.30 million during the quarter, compared to analyst estimates of $145.20 million. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The business’s revenue was up 18.9% on a year-over-year basis. On average, analysts predict that Inovalon will post 0.33 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. State Board of Administration of Florida Retirement System boosted its position in shares of Inovalon by 9.8% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 23,109 shares of the technology company’s stock worth $328,000 after buying an additional 2,064 shares during the period. Legal & General Group Plc boosted its position in shares of Inovalon by 19.9% during the fourth quarter. Legal & General Group Plc now owns 13,021 shares of the technology company’s stock worth $185,000 after buying an additional 2,163 shares during the period. California State Teachers Retirement System boosted its position in shares of Inovalon by 0.4% during the fourth quarter. California State Teachers Retirement System now owns 676,995 shares of the technology company’s stock worth $8,389,000 after buying an additional 2,557 shares during the period. We Are One Seven LLC acquired a new position in shares of Inovalon during the fourth quarter worth approximately $40,000. Finally, FNY Investment Advisers LLC acquired a new position in shares of Inovalon during the first quarter worth approximately $37,000. Institutional investors and hedge funds own 33.52% of the company’s stock.
Inovalon Company Profile
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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