Zacks Investment Research downgraded shares of Inovalon Holdings Inc. (NASDAQ:INOV) from a buy rating to a hold rating in a research report report published on Wednesday.

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. “

Several other analysts have also commented on the company. Goldman Sachs Group Inc. lowered Inovalon Holdings from a buy rating to a neutral rating and decreased their price target for the company from $25.00 to $17.00 in a research note on Thursday, August 4th. Wells Fargo & Co. reaffirmed a buy rating on shares of Inovalon Holdings in a research note on Wednesday, September 28th. Robert W. Baird decreased their price target on Inovalon Holdings from $15.00 to $14.00 and set a neutral rating on the stock in a research note on Friday, September 23rd. Citigroup Inc. decreased their price target on Inovalon Holdings from $18.00 to $17.00 and set a neutral rating on the stock in a research note on Thursday, August 4th. Finally, First Analysis initiated coverage on Inovalon Holdings in a research note on Monday, October 24th. They issued an equal weight rating and a $14.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $16.78.

Inovalon Holdings (NASDAQ:INOV) traded down 0.96% on Wednesday, reaching $15.40. The company had a trading volume of 119,536 shares. The company has a market capitalization of $971.06 billion, a price-to-earnings ratio of 48.12 and a beta of 1.08. Inovalon Holdings has a 12 month low of $13.30 and a 12 month high of $20.63. The company’s 50 day moving average price is $14.47 and its 200-day moving average price is $16.43.

Inovalon Holdings (NASDAQ:INOV) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The business had revenue of $105.01 million for the quarter, compared to analysts’ expectations of $102.38 million. Inovalon Holdings had a return on equity of 7.79% and a net margin of 9.37%. Inovalon Holdings’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 earnings per share. On average, equities analysts predict that Inovalon Holdings will post $0.44 earnings per share for the current fiscal year.

In related news, Director William J. Teuber, Jr. acquired 60,000 shares of the company’s stock in a transaction that occurred on 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 acquisition, the director now owns 69,559 shares of the company’s stock, valued at approximately $1,144,941.14. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Thomas R. Kloster sold 109,899 shares of the company’s stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $15.53, for a total value of $1,706,731.47. Following the completion of the sale, the chief financial officer now owns 10,050 shares of the company’s stock, valued at approximately $156,076.50. The disclosure for this sale can be found here. Insiders own 50.71% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Black Creek Investment Management Inc. increased its stake in 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 worth $87,825,000 after buying an additional 508,868 shares in 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 5.0% in the third quarter. Riverbridge Partners LLC now owns 3,524,542 shares of the company’s stock worth $51,846,000 after buying an additional 169,174 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Inovalon Holdings by 0.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,527,317 shares of the company’s stock worth $22,467,000 after buying an additional 11,089 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its stake in shares of Inovalon Holdings by 4.1% in the second quarter. Neuberger Berman Group LLC now owns 1,477,144 shares of the company’s stock valued at $26,603,000 after buying an additional 58,058 shares during the period. Institutional investors and hedge funds own 31.50% of the company’s stock.

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.

5 Day Chart for NASDAQ:INOV

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