ValuEngine Upgrades Inovalon Holdings Inc (INOV) to “Hold”
Inovalon Holdings Inc (NASDAQ:INOV) was upgraded by ValuEngine from a “sell” rating to a “hold” rating in a report released on Wednesday.
Other equities research analysts have also issued reports about the stock. BidaskClub upgraded shares of Inovalon Holdings from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 10th. Robert W. Baird reiterated a “neutral” rating and set a $12.00 price target (up from $11.00) on shares of Inovalon Holdings in a research note on Friday, June 16th. Finally, Zacks Investment Research upgraded shares of Inovalon Holdings from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Tuesday, May 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Inovalon Holdings has a consensus rating of “Hold” and an average price target of $14.20.
Inovalon Holdings (INOV) traded up 2.50% during trading on Wednesday, reaching $14.35. 619,836 shares of the company’s stock traded hands. Inovalon Holdings has a 12-month low of $8.60 and a 12-month high of $16.64. The company has a 50 day moving average price of $13.22 and a 200-day moving average price of $12.81. The company has a market cap of $2.09 billion, a PE ratio of 120.59 and a beta of 1.17.
Inovalon Holdings (NASDAQ:INOV) last announced its quarterly earnings data on Wednesday, August 2nd. The technology company reported $0.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.01. Inovalon Holdings had a net margin of 4.96% and a return on equity of 3.24%. The business had revenue of $110.60 million for the quarter, compared to analyst estimates of $108.73 million. During the same period last year, the business earned $0.14 EPS. The company’s revenue was down 10.7% on a year-over-year basis. On average, equities research analysts forecast that Inovalon Holdings will post $0.31 EPS for the current fiscal year.
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Large investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its stake in Inovalon Holdings by 336.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,397 shares of the technology company’s stock worth $110,000 after acquiring an additional 6,472 shares in the last quarter. Advisor Group Inc. raised its stake in Inovalon Holdings by 24.8% during the 2nd quarter. Advisor Group Inc. now owns 10,191 shares of the technology company’s stock worth $134,000 after acquiring an additional 2,023 shares in the last quarter. Virtu KCG Holdings LLC acquired a new stake in Inovalon Holdings during the 2nd quarter worth $154,000. Principal Financial Group Inc. acquired a new stake in Inovalon Holdings during the 2nd quarter worth $157,000. Finally, Bank of Montreal Can raised its stake in Inovalon Holdings by 319.9% during the 1st quarter. Bank of Montreal Can now owns 13,945 shares of the technology company’s stock worth $176,000 after acquiring an additional 10,624 shares in the last quarter. Hedge funds and other institutional investors own 28.67% of the company’s stock.
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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