Zacks Investment Research upgraded shares of Inovalon Holdings Inc. (NASDAQ:INOV) from a hold rating to a buy rating in a research report released on Monday. The brokerage currently has $16.00 price objective on the stock.

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 analysts have also commented on INOV. TheStreet raised Inovalon Holdings from a sell rating to a hold rating in a report on Monday, July 18th. William Blair lowered Inovalon Holdings from an outperform rating to a market perform rating in a report on Thursday, August 4th. Piper Jaffray Cos. lowered Inovalon Holdings from a neutral rating to an underweight rating and reduced their target price for the stock from $14.00 to $11.00 in a report on Thursday, August 4th. KeyCorp reduced their target price on Inovalon Holdings from $26.00 to $20.00 and set an overweight rating for the company in a report on Tuesday, August 16th. Finally, Citigroup Inc. reduced their target price on Inovalon Holdings from $18.00 to $17.00 and set a neutral rating for the company in a report on Thursday, August 4th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Inovalon Holdings has a consensus rating of Hold and a consensus target price of $17.13.

Analyst Recommendations for Inovalon Holdings (NASDAQ:INOV)

Shares of Inovalon Holdings (NASDAQ:INOV) opened at 13.975 on Monday. The stock has a market cap of $2.13 billion, a PE ratio of 47.213 and a beta of 1.06. The company’s 50-day moving average price is $15.22 and its 200-day moving average price is $17.02. Inovalon Holdings has a one year low of $13.50 and a one year high of $23.87.

Inovalon Holdings (NASDAQ:INOV) last posted its earnings results on Wednesday, August 3rd. The company reported $0.14 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.14. The business earned $123.80 million during the quarter, compared to analyst estimates of $126.86 million. Inovalon Holdings had a return on equity of 7.51% and a net margin of 9.88%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 EPS. Equities research analysts anticipate that Inovalon Holdings will post $0.42 earnings per share for the current year.

In other Inovalon Holdings news, Director William D. Green acquired 30,000 shares of the stock in a transaction dated Friday, September 16th. The shares were acquired at an average cost of $16.22 per share, for a total transaction of $486,600.00. Following the completion of the transaction, the director now directly owns 38,351 shares of the company’s stock, valued at $622,053.22. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director William J. Teuber, Jr. acquired 60,000 shares of the stock in a transaction dated Thursday, September 8th. The stock was acquired at an average price of $16.46 per share, for a total transaction of $987,600.00. Following the completion of the transaction, the director now directly owns 69,559 shares of the company’s stock, valued at $1,144,941.14. The disclosure for this purchase can be found here. 50.71% of the stock is owned by insiders.

Several institutional investors have recently made changes to their positions in INOV. Black Creek Investment Management Inc. increased its position in shares of Inovalon Holdings by 11.7% in the second quarter. Black Creek Investment Management Inc. now owns 4,876,456 shares of the company’s stock valued at $87,825,000 after buying an additional 508,868 shares during the last quarter. Vanguard Group Inc. increased its stake in Inovalon Holdings by 32.9% in the second quarter. Vanguard Group Inc. now owns 4,649,193 shares of the company’s stock worth $83,731,000 after buying an additional 1,150,802 shares in the last quarter. Riverbridge Partners LLC increased its stake in Inovalon Holdings by 29.4% in the second quarter. Riverbridge Partners LLC now owns 3,355,368 shares of the company’s stock worth $60,430,000 after buying an additional 762,680 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Inovalon Holdings by 41.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,516,228 shares of the company’s stock worth $27,307,000 after buying an additional 445,748 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its stake in Inovalon Holdings by 4.1% in the second quarter. Neuberger Berman Group LLC now owns 1,477,144 shares of the company’s stock worth $26,603,000 after buying an additional 58,058 shares in the last quarter. Institutional investors and hedge funds own 32.04% of the company’s stock.

Inovalon Holdings Company Profile

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.

5 Day Chart for NASDAQ:INOV

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