Inovalon Holdings Inc. (NASDAQ:INOV) Receives $17.29 Consensus Price Target from Analysts
Inovalon Holdings Inc. (NASDAQ:INOV) has earned a consensus recommendation of “Hold” from the eleven brokerages that are covering the stock. Four research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $17.29.
Several equities analysts have commented on the company. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Inovalon Holdings in a report on Wednesday, September 28th. Goldman Sachs Group Inc. cut Inovalon Holdings from a “buy” rating to a “neutral” rating and cut their price target for the company from $25.00 to $17.00 in a report on Thursday, August 4th. Piper Jaffray Cos. cut Inovalon Holdings from a “neutral” rating to an “underweight” rating and cut their price target for the company from $14.00 to $11.00 in a report on Thursday, August 4th. TheStreet cut Inovalon Holdings from a “hold” rating to a “sell” rating in a report on Wednesday, August 24th. Finally, Zacks Investment Research cut Inovalon Holdings from a “hold” rating to a “sell” rating in a report on Tuesday, August 9th.
In other Inovalon Holdings news, Director William J. Teuber, Jr. purchased 60,000 shares of the company’s stock in a transaction that occurred on Thursday, September 8th. The stock was purchased at an average cost of $16.46 per share, with a total value of $987,600.00. Following the acquisition, the director now directly owns 69,559 shares of the company’s stock, valued at approximately $1,144,941.14. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Daniel L. Rizzo sold 43,577 shares of the firm’s stock in a transaction on Tuesday, July 12th. The shares were sold at an average price of $20.02, for a total value of $872,411.54. Following the sale, the insider now directly owns 320,385 shares of the company’s stock, valued at $6,414,107.70. The disclosure for this sale can be found here. Corporate insiders own 50.71% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in INOV. BlackRock Inc. boosted its stake in Inovalon Holdings by 94.0% in the second quarter. BlackRock Inc. now owns 7,868 shares of the company’s stock worth $142,000 after buying an additional 3,812 shares in the last quarter. TLP Group LLC acquired a new stake in Inovalon Holdings during the second quarter worth $150,000. Teacher Retirement System of Texas boosted its stake in Inovalon Holdings by 43.4% in the second quarter. Teacher Retirement System of Texas now owns 8,686 shares of the company’s stock worth $156,000 after buying an additional 2,629 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Inovalon Holdings by 94.3% in the second quarter. Public Employees Retirement System of Ohio now owns 8,827 shares of the company’s stock worth $159,000 after buying an additional 4,285 shares in the last quarter. Finally, Utah Retirement Systems acquired a new stake in Inovalon Holdings during the second quarter worth $192,000. 32.04% of the stock is owned by hedge funds and other institutional investors.
Inovalon Holdings (NASDAQ:INOV) opened at 14.49 on Wednesday. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 48.95 and a beta of 1.06. The firm’s 50-day moving average price is $15.47 and its 200-day moving average price is $17.24. Inovalon Holdings has a 12 month low of $13.85 and a 12 month high of $23.87.
Inovalon Holdings (NASDAQ:INOV) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.14 EPS for the quarter, meeting the consensus estimate of $0.14. The firm earned $123.80 million during the quarter, compared to analysts’ expectations of $126.86 million. Inovalon Holdings had a return on equity of 7.51% and a net margin of 9.88%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.18 EPS. Equities research analysts predict that Inovalon Holdings will post $0.42 earnings per share for the current year.
About Inovalon Holdings
Inovalon Holdings, Inc is a technology company. The Company combines advanced cloud-based data analytics and data-driven intervention platforms to provide services for health plans, hospitals, physicians, patients, pharmaceutical companies and researchers. The Company operates through developing cloud-based data analytics and data-driven intervention platforms segment and provides related services to its clients.
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