Zacks Investment Research upgraded shares of Inovalon (NASDAQ:INOV) from a sell rating to a hold rating in a research note released on Wednesday, Zacks.com reports.

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. “

A number of other analysts also recently commented on the company. TheStreet upgraded Inovalon from a c rating to a b- rating in a report on Thursday, February 4th. Morgan Stanley upped their price objective on Inovalon from $23.00 to $25.00 and gave the stock an equal weight rating in a report on Thursday, February 4th. SVB Leerink upped their price objective on Inovalon from $27.00 to $31.00 and gave the stock an outperform rating in a report on Thursday, February 4th. BTIG Research increased their price target on Inovalon from $25.00 to $30.00 and gave the company a buy rating in a report on Tuesday, January 12th. Finally, Piper Sandler increased their price target on Inovalon from $14.00 to $22.00 and gave the company an underweight rating in a report on Thursday, February 4th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company. Inovalon has an average rating of Hold and an average target price of $26.44.

Shares of INOV opened at $29.95 on Wednesday. The stock has a fifty day moving average of $26.78 and a two-hundred day moving average of $23.72. The company has a debt-to-equity ratio of 1.33, a quick ratio of 1.95 and a current ratio of 1.95. The company has a market capitalization of $4.65 billion, a PE ratio of 748.94, a price-to-earnings-growth ratio of 2.19 and a beta of 0.64. Inovalon has a fifty-two week low of $15.15 and a fifty-two week high of $30.56.

Inovalon (NASDAQ:INOV) last issued its quarterly earnings results on Wednesday, February 3rd. The technology company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.05. The company had revenue of $189.40 million during the quarter, compared to the consensus estimate of $187.44 million. Inovalon had a return on equity of 9.07% and a net margin of 0.87%. Inovalon’s revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 EPS. As a group, equities research analysts forecast that Inovalon will post 0.45 earnings per share for the current fiscal year.

In other news, Director Mark Pulido sold 100,000 shares of the stock in a transaction dated Friday, February 5th. The shares were sold at an average price of $26.39, for a total transaction of $2,639,000.00. Following the transaction, the director now owns 254,760 shares of the company’s stock, valued at $6,723,116.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jason Capitel sold 20,000 shares of the stock in a transaction dated Thursday, April 1st. The stock was sold at an average price of $28.88, for a total transaction of $577,600.00. Insiders have sold 120,996 shares of company stock worth $3,239,309 in the last ninety days. Corporate insiders own 49.59% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. California State Teachers Retirement System lifted its holdings in Inovalon by 0.8% in the third quarter. California State Teachers Retirement System now owns 112,096 shares of the technology company’s stock worth $2,965,000 after acquiring an additional 928 shares during the last quarter. UBS Asset Management Americas Inc. lifted its holdings in Inovalon by 2.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 63,636 shares of the technology company’s stock worth $1,156,000 after acquiring an additional 1,786 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Inovalon by 5.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 46,394 shares of the technology company’s stock valued at $843,000 after purchasing an additional 2,203 shares during the period. Marshall Wace North America L.P. acquired a new stake in shares of Inovalon in the first quarter valued at approximately $31,000. Finally, First Trust Advisors LP increased its stake in shares of Inovalon by 3.6% in the fourth quarter. First Trust Advisors LP now owns 86,169 shares of the technology company’s stock valued at $1,566,000 after purchasing an additional 2,978 shares during the period. 33.64% of the stock is currently owned by hedge funds and other institutional investors.

About Inovalon

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

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