Inovalon (NASDAQ:INOV) had its price objective decreased by equities research analysts at SunTrust Banks from $26.00 to $23.00 in a research report issued to clients and investors on Thursday, BenzingaRatingsTable reports. The brokerage presently has a “buy” rating on the technology company’s stock. SunTrust Banks’ price objective would suggest a potential upside of 50.62% from the company’s current price.

A number of other analysts have also recently weighed in on INOV. BidaskClub raised shares of Inovalon from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 23rd. Wells Fargo & Co increased their price objective on shares of Inovalon from $17.50 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 8th. KeyCorp reaffirmed an “overweight” rating and issued a $20.00 price objective (down previously from $25.00) on shares of Inovalon in a report on Thursday. Zacks Investment Research raised shares of Inovalon from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Tuesday, February 25th. Finally, Piper Sandler increased their price objective on shares of Inovalon from to in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $18.88.

Shares of INOV stock traded up $0.14 during trading hours on Thursday, reaching $15.27. The stock had a trading volume of 71,713 shares, compared to its average volume of 725,239. The company has a debt-to-equity ratio of 1.37, a current ratio of 1.97 and a quick ratio of 1.97. Inovalon has a twelve month low of $11.50 and a twelve month high of $22.99. The firm has a 50-day simple moving average of $18.90 and a 200-day simple moving average of $17.80. The firm has a market capitalization of $2.44 billion, a PE ratio of 381.75 and a beta of 0.60.

Inovalon (NASDAQ:INOV) last released its quarterly earnings data on Wednesday, February 19th. The technology company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.04. Inovalon had a net margin of 1.13% and a return on equity of 9.12%. The business had revenue of $173.50 million for the quarter, compared to analysts’ expectations of $172.18 million. During the same quarter last year, the company earned $0.05 EPS. The company’s revenue for the quarter was up 27.3% compared to the same quarter last year. On average, equities analysts anticipate that Inovalon will post 0.48 earnings per share for the current year.

In other Inovalon news, CEO Keith R. Dunleavy acquired 30,071 shares of Inovalon stock in a transaction dated Monday, February 24th. The stock was bought at an average price of $20.61 per share, for a total transaction of $619,763.31. Following the transaction, the chief executive officer now owns 567,066 shares in the company, valued at approximately $11,687,230.26. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Robert A. Wychulis sold 16,071 shares of the firm’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $19.19, for a total transaction of $308,402.49. Following the transaction, the president now owns 277,322 shares of the company’s stock, valued at approximately $5,321,809.18. The disclosure for this sale can be found here. Company insiders own 50.44% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Cullen Frost Bankers Inc. boosted its position in shares of Inovalon by 457.5% during the fourth quarter. Cullen Frost Bankers Inc. now owns 1,901 shares of the technology company’s stock valued at $36,000 after buying an additional 1,560 shares during the last quarter. Marshall Wace North America L.P. bought a new position in shares of Inovalon in the first quarter valued at about $31,000. Aigen Investment Management LP bought a new position in shares of Inovalon in the fourth quarter valued at about $87,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Inovalon by 93.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,832 shares of the technology company’s stock valued at $129,000 after buying an additional 3,309 shares during the last quarter. Finally, Advisor Group Inc. raised its holdings in shares of Inovalon by 24.2% in the fourth quarter. Advisor Group Inc. now owns 11,201 shares of the technology company’s stock valued at $211,000 after buying an additional 2,180 shares during the last quarter. Institutional investors own 33.29% of the company’s stock.

About Inovalon

Inovalon Holdings, Inc, a technology company, provides cloud-based platforms empowering data-driven healthcare. It operates the Inovalon ONE Platform, a cloud-based platform that interconnect with the healthcare ecosystem to aggregate and analyze data in real-time, as well as empowers the application in resulting insights.

Further Reading: Why is momentum important to successful trading?

Analyst Recommendations for Inovalon (NASDAQ:INOV)

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.