Inovalon (INOV) Downgraded to Sell at ValuEngine
ValuEngine lowered shares of Inovalon (NASDAQ:INOV) from a hold rating to a sell rating in a research report sent to investors on Wednesday morning.
A number of other equities research analysts also recently commented on INOV. Zacks Investment Research upgraded Inovalon from a sell rating to a hold rating in a research report on Wednesday, January 3rd. BidaskClub downgraded Inovalon from a hold rating to a sell rating in a research report on Saturday, December 2nd. Finally, Wells Fargo & Co restated a market perform rating and issued a $14.00 target price (down previously from $16.00) on shares of Inovalon in a research report on Wednesday, February 21st. Two investment analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Inovalon presently has an average rating of Hold and an average price target of $13.33.
Shares of Inovalon (NASDAQ:INOV) opened at $11.75 on Wednesday. Inovalon has a 1 year low of $10.99 and a 1 year high of $17.80. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $1,696.72, a price-to-earnings ratio of 48.96, a price-to-earnings-growth ratio of 3.33 and a beta of 0.96.
In related news, insider Shauna L. Vernal sold 44,270 shares of the business’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $14.00, for a total value of $619,780.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 48.28% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of INOV. FNY Managed Accounts LLC purchased a new stake in shares of Inovalon in the 4th quarter valued at $150,000. Creative Planning purchased a new stake in shares of Inovalon in the 4th quarter valued at $152,000. Teacher Retirement System of Texas purchased a new stake in shares of Inovalon in the 4th quarter valued at $294,000. Voya Investment Management LLC raised its holdings in shares of Inovalon by 18.7% in the 2nd quarter. Voya Investment Management LLC now owns 28,393 shares of the technology company’s stock valued at $373,000 after buying an additional 4,469 shares during the period. Finally, Macquarie Group Ltd. raised its holdings in shares of Inovalon by 877.8% in the 4th quarter. Macquarie Group Ltd. now owns 26,400 shares of the technology company’s stock valued at $396,000 after buying an additional 23,700 shares during the period. Hedge funds and other institutional investors own 27.64% of the company’s stock.
COPYRIGHT VIOLATION WARNING: “Inovalon (INOV) Downgraded to Sell at ValuEngine” was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this story on another website, it was copied illegally and republished in violation of United States & international copyright & trademark law. The original version of this story can be accessed at https://www.thecerbatgem.com/2018/03/11/inovalon-inov-downgraded-to-sell-at-valuengine.html.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Inovalon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inovalon and related companies with MarketBeat.com's FREE daily email newsletter.