Inovalon Holdings Inc (NASDAQ:INOV) Director Lee D. Roberts acquired 10,000 shares of the company’s stock in a transaction dated Friday, June 8th. The stock was acquired at an average cost of $10.54 per share, for a total transaction of $105,400.00. Following the completion of the purchase, the director now directly owns 91,804 shares in the company, valued at $967,614.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Inovalon opened at $10.45 on Thursday, Marketbeat reports. Inovalon Holdings Inc has a fifty-two week low of $8.90 and a fifty-two week high of $17.80. The company has a debt-to-equity ratio of 0.31, a quick ratio of 4.48 and a current ratio of 4.48. The company has a market cap of $1.57 billion, a P/E ratio of 45.43, a PEG ratio of 3.79 and a beta of 1.02.
Inovalon (NASDAQ:INOV) last posted its quarterly earnings results on Tuesday, May 8th. The technology company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.10). Inovalon had a return on equity of 2.50% and a net margin of 3.20%. The firm had revenue of $92.76 million for the quarter, compared to analyst estimates of $107.76 million. During the same period last year, the company posted $0.07 earnings per share. The firm’s quarterly revenue was down 14.4% compared to the same quarter last year. equities research analysts forecast that Inovalon Holdings Inc will post 0.19 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of INOV. Schwab Charles Investment Management Inc. raised its stake in Inovalon by 3.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 317,267 shares of the technology company’s stock worth $4,760,000 after buying an additional 11,062 shares during the period. Engineers Gate Manager LP increased its holdings in Inovalon by 28.7% during the 4th quarter. Engineers Gate Manager LP now owns 55,191 shares of the technology company’s stock worth $828,000 after purchasing an additional 12,314 shares in the last quarter. Teacher Retirement System of Texas bought a new stake in Inovalon during the 4th quarter worth approximately $294,000. California Public Employees Retirement System bought a new stake in Inovalon during the 4th quarter worth approximately $485,000. Finally, Wells Fargo & Company MN increased its holdings in Inovalon by 26.5% during the 4th quarter. Wells Fargo & Company MN now owns 95,517 shares of the technology company’s stock worth $1,433,000 after purchasing an additional 20,033 shares in the last quarter. 28.02% of the stock is currently owned by institutional investors and hedge funds.
Inovalon Holdings, Inc, a technology company, provides cloud-based platforms empowering a data-driven transformation from volume-based to value-based models in the healthcare industry. The company's platform enables the assessment and enhancement of clinical and quality outcomes and financial performance.
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