Inovalon Holdings Inc. (INOV) Receives $16.78 Consensus Target Price from Analysts
Shares of Inovalon Holdings Inc. (NASDAQ:INOV) have earned an average recommendation of “Hold” from the twelve ratings firms that are presently covering the stock. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $16.78.
A number of research firms recently issued reports on INOV. Zacks Investment Research upgraded Inovalon Holdings from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a report on Wednesday. William Blair downgraded Inovalon Holdings from an “outperform” rating to a “market perform” rating in a report on Thursday, August 4th. TheStreet upgraded Inovalon Holdings from a “sell” rating to a “hold” rating in a report on Monday, July 18th. Piper Jaffray Cos. downgraded Inovalon Holdings from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $14.00 to $11.00 in a report on Thursday, August 4th. Finally, KeyCorp decreased their price objective on Inovalon Holdings from $26.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, August 16th.
Inovalon Holdings (NASDAQ:INOV) opened at 15.50 on Wednesday. The firm has a 50-day moving average price of $14.42 and a 200 day moving average price of $16.48. Inovalon Holdings has a 12 month low of $13.30 and a 12 month high of $20.63. The company has a market capitalization of $2.36 billion, a P/E ratio of 52.36 and a beta of 1.08.
Inovalon Holdings (NASDAQ:INOV) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.04. Inovalon Holdings had a return on equity of 7.79% and a net margin of 9.37%. The company earned $105.01 million during the quarter, compared to the consensus estimate of $102.38 million. During the same period in the prior year, the company earned $0.09 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. Analysts expect that Inovalon Holdings will post $0.43 EPS for the current year.
In other Inovalon Holdings news, Director William D. Green acquired 30,000 shares of the business’s stock in a transaction dated Friday, September 16th. The stock was bought at an average cost of $16.22 per share, with a total value of $486,600.00. Following the completion of the transaction, the director now directly owns 38,351 shares in the company, valued at approximately $622,053.22. The transaction 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 business’s stock in a transaction dated Thursday, September 8th. The stock was acquired at an average cost of $16.46 per share, with a total value of $987,600.00. Following the completion of the transaction, the director now 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.
Hedge funds have recently added to or reduced their stakes in the stock. Berkeley Capital Partners LLC boosted its stake in Inovalon Holdings by 2.4% in the third quarter. Berkeley Capital Partners LLC now owns 13,826 shares of the company’s stock worth $203,000 after buying an additional 328 shares during the last quarter. Royal Bank of Canada boosted its stake in Inovalon Holdings by 5.2% in the second quarter. Royal Bank of Canada now owns 18,528 shares of the company’s stock worth $334,000 after buying an additional 920 shares during the last quarter. Bessemer Group Inc. boosted its stake in Inovalon Holdings by 10.3% in the second quarter. Bessemer Group Inc. now owns 11,145 shares of the company’s stock worth $201,000 after buying an additional 1,040 shares during the last quarter. California State Teachers Retirement System boosted its stake in Inovalon Holdings by 1.0% in the third quarter. California State Teachers Retirement System now owns 125,806 shares of the company’s stock worth $1,851,000 after buying an additional 1,200 shares during the last quarter. Finally, Redmond Asset Management LLC boosted its stake in Inovalon Holdings by 1.4% in the second quarter. Redmond Asset Management LLC now owns 116,576 shares of the company’s stock worth $2,100,000 after buying an additional 1,610 shares during the last quarter. 31.93% of the stock is owned by institutional investors.
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.
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