Fmr LLC Boosts Stake in Inovalon Holdings, Inc. (NASDAQ:INOV)
FMR LLC boosted its position in shares of Inovalon Holdings, Inc. (NASDAQ:INOV) by 6.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,565,829 shares of the technology company’s stock after buying an additional 161,500 shares during the period. FMR LLC owned 1.73% of Inovalon Holdings worth $32,329,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Fox Run Management L.L.C. bought a new position in shares of Inovalon Holdings during the first quarter worth about $147,000. Bell Bank raised its position in shares of Inovalon Holdings by 4.9% in the first quarter. Bell Bank now owns 13,050 shares of the technology company’s stock worth $164,000 after buying an additional 605 shares during the period. Bank of Montreal Can raised its position in shares of Inovalon Holdings by 319.9% in the first quarter. Bank of Montreal Can now owns 13,945 shares of the technology company’s stock worth $176,000 after buying an additional 10,624 shares during the period. Carl Domino Inc raised its position in shares of Inovalon Holdings by 13.0% in the first quarter. Carl Domino Inc now owns 26,000 shares of the technology company’s stock worth $328,000 after buying an additional 3,000 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its stake in Inovalon Holdings by 6.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 32,042 shares of the technology company’s stock worth $330,000 after buying an additional 1,950 shares in the last quarter. 29.45% of the stock is currently owned by institutional investors.
Shares of Inovalon Holdings, Inc. (INOV) traded up 2.86% during mid-day trading on Monday, reaching $14.40. The company’s stock had a trading volume of 433,181 shares. The company has a 50-day moving average of $13.04 and a 200-day moving average of $12.48. Inovalon Holdings, Inc. has a 12 month low of $8.60 and a 12 month high of $19.40. The firm has a market cap of $2.05 billion, a PE ratio of 121.01 and a beta of 1.19.
Inovalon Holdings (NASDAQ:INOV) last posted its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Inovalon Holdings had a return on equity of 5.17% and a net margin of 4.13%. The firm had revenue of $110.60 million during the quarter, compared to analysts’ expectations of $108.73 million. During the same period in the prior year, the business earned $0.14 EPS. The company’s revenue for the quarter was down 10.7% compared to the same quarter last year. On average, analysts predict that Inovalon Holdings, Inc. will post $0.30 earnings per share for the current year.
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A number of equities research analysts have weighed in on INOV shares. Zacks Investment Research upgraded shares of Inovalon Holdings from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Wednesday, April 26th. BidaskClub upgraded shares of Inovalon Holdings from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $12.00 price target (up previously from $11.00) on shares of Inovalon Holdings in a research note on Friday, June 16th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $15.17.
In other news, insider Shauna L. Vernal sold 19,332 shares of the company’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $13.60, for a total value of $262,915.20. Following the completion of the transaction, the insider now directly owns 66,261 shares in the company, valued at approximately $901,149.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 48.28% of the stock is currently owned by corporate insiders.
Inovalon Holdings Company Profile
Inovalon Holdings, Inc (Inovalon) is a technology company. The Company provides cloud-based platforms empowering a data-driven transformation from volume-based to value-based models to the healthcare industry. Leveraging large-scale data interconnectivity capabilities, unparalleled proprietary data sets, advanced analytics, data-driven intervention systems, and subject matter expertise, Inovalon enables the assessment and improvement of clinical and quality outcomes and financial performance across the healthcare ecosystem.
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