BidaskClub Downgrades Inovalon (INOV) to Sell

Inovalon (NASDAQ:INOV) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

Several other brokerages also recently commented on INOV. KeyCorp restated a “hold” rating on shares of Inovalon in a research report on Tuesday, September 12th. TheStreet upgraded Inovalon from a “d+” rating to a “c-” rating in a research report on Thursday, October 5th. Morgan Stanley upgraded Inovalon from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $9.00 to $14.00 in a research report on Tuesday, September 12th. ValuEngine upgraded Inovalon from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Finally, Zacks Investment Research downgraded Inovalon from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.00.

Inovalon (NASDAQ INOV) opened at $15.60 on Friday. Inovalon has a 52-week low of $8.60 and a 52-week high of $17.80. The company has a market capitalization of $2,275.60, a PE ratio of 74.29, a PEG ratio of 4.57 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.62 and a quick ratio of 5.62.

Inovalon (NASDAQ:INOV) last announced its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.09 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.01. Inovalon had a return on equity of 4.63% and a net margin of 4.07%. The business had revenue of $115.90 million for the quarter, compared to the consensus estimate of $114.79 million. During the same period in the previous year, the business earned $0.10 earnings per share. The business’s revenue was up 10.4% on a year-over-year basis. sell-side analysts predict that Inovalon will post 0.24 EPS for the current fiscal year.

In other news, CEO Keith R. Dunleavy bought 62,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The shares were bought at an average cost of $16.38 per share, for a total transaction of $1,015,560.00. Following the completion of the transaction, the chief executive officer now owns 270,000 shares of the company’s stock, valued at $4,422,600. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shauna L. Vernal sold 5,908 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $16.01, for a total value of $94,587.08. Following the completion of the sale, the insider now owns 47,309 shares in the company, valued at $757,417.09. The disclosure for this sale can be found here. 48.28% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of INOV. BNP Paribas Arbitrage SA raised its position in Inovalon by 336.2% during the second quarter. BNP Paribas Arbitrage SA now owns 8,397 shares of the technology company’s stock valued at $110,000 after purchasing an additional 6,472 shares during the period. Advisor Group Inc. raised its position in Inovalon by 24.8% during the second quarter. Advisor Group Inc. now owns 10,191 shares of the technology company’s stock valued at $134,000 after purchasing an additional 2,023 shares during the period. Virtu KCG Holdings LLC purchased a new stake in Inovalon during the second quarter valued at approximately $154,000. Principal Financial Group Inc. purchased a new stake in Inovalon during the second quarter valued at approximately $157,000. Finally, Bank of Montreal Can raised its position in Inovalon by 0.4% during the second quarter. Bank of Montreal Can now owns 14,006 shares of the technology company’s stock valued at $184,000 after purchasing an additional 61 shares during the period. Institutional investors own 28.14% of the company’s stock.

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About Inovalon

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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