Zacks Investment Research upgraded shares of Inovalon (NASDAQ:INOV) from a sell rating to a hold rating in a research note released on Saturday morning.
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 equities research analysts have also issued reports on INOV. BidaskClub lowered Inovalon from a sell rating to a strong sell rating in a research note on Thursday, December 14th. Wells Fargo & Co reaffirmed a market perform rating and issued a $14.00 target price (down previously from $16.00) on shares of Inovalon in a research note on Wednesday, February 21st. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $13.33.
Inovalon (NASDAQ:INOV) last announced its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.01). The firm had revenue of $114.60 million for the quarter, compared to analysts’ expectations of $116.83 million. Inovalon had a return on equity of 4.79% and a net margin of 7.51%. Inovalon’s revenue was up 19.3% compared to the same quarter last year. During the same period last year, the firm earned $0.05 EPS. research analysts expect that Inovalon will post 0.25 earnings per share for the current fiscal year.
In related news, insider Shauna L. Vernal sold 44,270 shares of the company’s stock in a transaction that occurred on Tuesday, January 23rd. The stock was sold at an average price of $14.00, for a total value of $619,780.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Robert A. Wychulis sold 85,828 shares of the company’s stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $15.54, for a total value of $1,333,767.12. Following the completion of the sale, the president now directly owns 466,286 shares in the company, valued at approximately $7,246,084.44. The disclosure for this sale can be found here. 48.28% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of INOV. MetLife Investment Advisors LLC acquired a new position in Inovalon in the 4th quarter valued at $450,000. Macquarie Group Ltd. raised its holdings in Inovalon by 877.8% in the 4th quarter. Macquarie Group Ltd. now owns 26,400 shares of the technology company’s stock valued at $396,000 after acquiring an additional 23,700 shares during the last quarter. Two Sigma Investments LP raised its holdings in Inovalon by 359.7% in the 4th quarter. Two Sigma Investments LP now owns 88,142 shares of the technology company’s stock valued at $1,322,000 after acquiring an additional 68,967 shares during the last quarter. Two Sigma Advisers LP raised its holdings in Inovalon by 248.9% in the 4th quarter. Two Sigma Advisers LP now owns 104,437 shares of the technology company’s stock valued at $1,567,000 after acquiring an additional 74,500 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in Inovalon by 187.8% in the 4th quarter. Deutsche Bank AG now owns 244,503 shares of the technology company’s stock valued at $3,666,000 after acquiring an additional 159,534 shares during the last quarter. 28.05% of the stock is currently owned by hedge funds and other institutional investors.
ILLEGAL ACTIVITY NOTICE: “Inovalon (INOV) Lifted to Hold at Zacks Investment Research” was reported by Ticker Report and is the sole property of of Ticker Report. If you are accessing this story on another website, it was stolen and reposted in violation of U.S. & international copyright legislation. The legal version of this story can be viewed at https://www.tickerreport.com/banking-finance/3227035/inovalon-inov-lifted-to-hold-at-zacks-investment-research.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Inovalon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inovalon and related companies with MarketBeat.com's FREE daily email newsletter.