Shares of Inovalon Holdings Inc (NASDAQ:INOV) have been assigned a consensus recommendation of “Hold” from the thirteen analysts that are currently covering the firm. Four analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $15.44.
A number of brokerages have issued reports on INOV. Zacks Investment Research lowered Inovalon Holdings from a “hold” rating to a “sell” rating in a research report on Thursday, December 22nd. William Blair reiterated a “market perform” rating on shares of Inovalon Holdings in a research report on Thursday, February 23rd. Finally, Bank of America Corp lowered Inovalon Holdings from a “neutral” rating to an “underperform” rating and set a $10.00 price target for the company. in a research report on Monday, February 13th.
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Several hedge funds have recently made changes to their positions in the stock. Great West Life Assurance Co. Can raised its stake in shares of Inovalon Holdings by 111.9% in the third quarter. Great West Life Assurance Co. Can now owns 8,898 shares of the technology company’s stock valued at $131,000 after buying an additional 4,698 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Inovalon Holdings during the first quarter valued at approximately $147,000. Bell State Bank & Trust bought a new stake in shares of Inovalon Holdings during the third quarter valued at approximately $176,000. Bank of Montreal Can raised its stake 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 valued at $176,000 after buying an additional 10,624 shares during the last quarter. Finally, Carl Domino Inc bought a new stake in shares of Inovalon Holdings during the third quarter valued at approximately $202,000. Institutional investors and hedge funds own 28.75% of the company’s stock.
Inovalon Holdings (NASDAQ:INOV) traded down 1.69% during mid-day trading on Monday, reaching $11.65. 274,196 shares of the company were exchanged. Inovalon Holdings has a 1-year low of $8.60 and a 1-year high of $20.05. The firm has a market capitalization of $1.72 billion, a P/E ratio of 64.72 and a beta of 1.14. The stock has a 50-day moving average of $12.07 and a 200 day moving average of $12.59.
Inovalon Holdings (NASDAQ:INOV) last announced its quarterly earnings results on Wednesday, February 22nd. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.02. Inovalon Holdings had a return on equity of 7.79% and a net margin of 9.37%. The company earned $96.09 million during the quarter, compared to analyst estimates of $95.10 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The firm’s quarterly revenue was down 20.3% on a year-over-year basis. Equities research analysts forecast that Inovalon Holdings will post $0.30 earnings per share for the current year.
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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