Several other equities analysts have also weighed in on INOV. SunTrust Banks set a $22.00 target price on shares of Inovalon and gave the company a buy rating in a report on Monday, September 23rd. Morgan Stanley boosted their price target on shares of Inovalon from $14.00 to $18.00 and gave the company an equal weight rating in a research report on Friday, August 23rd. ValuEngine raised Inovalon from a sell rating to a hold rating in a report on Wednesday, November 13th. Piper Jaffray Companies upped their price target on shares of Inovalon from $10.00 to $12.00 and gave the stock an underweight rating in a research note on Thursday, October 31st. Finally, Citigroup assumed coverage on shares of Inovalon in a research note on Wednesday, October 16th. They issued a buy rating and a $21.00 target price for the company. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Inovalon presently has an average rating of Hold and a consensus target price of $18.20.
Shares of INOV traded up $0.10 during trading hours on Wednesday, hitting $17.67. The company had a trading volume of 6,965 shares, compared to its average volume of 484,879. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 97.94, a P/E/G ratio of 5.41 and a beta of 0.63. The firm has a fifty day moving average price of $16.44 and a 200-day moving average price of $15.61. Inovalon has a 52-week low of $11.50 and a 52-week high of $18.85. The company has a debt-to-equity ratio of 1.47, a quick ratio of 2.28 and a current ratio of 2.28.
Several large investors have recently added to or reduced their stakes in INOV. Isthmus Partners LLC increased its position in Inovalon by 516.8% during the 2nd quarter. Isthmus Partners LLC now owns 95,777 shares of the technology company’s stock worth $1,390,000 after purchasing an additional 80,250 shares in the last quarter. Bernzott Capital Advisors bought a new position in Inovalon in the 2nd quarter worth about $20,519,000. First Trust Advisors LP bought a new stake in Inovalon during the second quarter worth about $2,309,000. Aperio Group LLC grew its holdings in shares of Inovalon by 10.0% in the second quarter. Aperio Group LLC now owns 20,321 shares of the technology company’s stock worth $295,000 after purchasing an additional 1,848 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Inovalon by 48.2% during the second quarter. Bank of America Corp DE now owns 171,273 shares of the technology company’s stock valued at $2,485,000 after buying an additional 55,678 shares during the period. Hedge funds and other institutional investors own 33.83% of the company’s stock.
Inovalon Company Profile
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.
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