Inovalon (INOV) Given Consensus Rating of “Hold” by Brokerages

Shares of Inovalon (NASDAQ:INOV) have been given a consensus rating of “Hold” by the eight analysts that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation and four have given a hold 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 $12.00.

A number of brokerages have recently commented on INOV. Zacks Investment Research raised shares of Inovalon from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. ValuEngine cut shares of Inovalon from a “hold” rating to a “sell” rating in a report on Wednesday, March 14th. TheStreet raised shares of Inovalon from a “d+” rating to a “c” rating in a report on Thursday, March 15th. Wells Fargo reissued a “market perform” rating and set a $14.00 price target (down from $16.00) on shares of Inovalon in a report on Wednesday, February 21st. Finally, Morgan Stanley cut shares of Inovalon from an “equal weight” rating to an “underweight” rating and set a $10.00 price target for the company. in a report on Wednesday, March 14th.

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In related news, insider Shauna L. Vernal sold 44,270 shares of the stock in a transaction dated Tuesday, January 23rd. The shares were sold at an average price of $14.00, for a total transaction of $619,780.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 48.28% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FNY Managed Accounts LLC purchased a new position in Inovalon during the fourth quarter worth about $150,000. Creative Planning acquired a new position in Inovalon during the fourth quarter worth about $152,000. Teacher Retirement System of Texas acquired a new position in Inovalon during the fourth quarter worth about $294,000. Raymond James Financial Services Advisors Inc. acquired a new position in Inovalon during the third quarter worth about $438,000. Finally, Macquarie Group Ltd. grew its position in Inovalon by 877.8% during the fourth quarter. Macquarie Group Ltd. now owns 26,400 shares of the technology company’s stock worth $396,000 after buying an additional 23,700 shares during the period. 27.91% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:INOV traded down $0.20 on Friday, reaching $10.30. The company’s stock had a trading volume of 758,867 shares, compared to its average volume of 703,459. Inovalon has a 52-week low of $10.10 and a 52-week high of $17.80. The company has a debt-to-equity ratio of 0.32, a quick ratio of 4.82 and a current ratio of 4.82. The stock has a market capitalization of $1,487.34, a price-to-earnings ratio of 44.78, a PEG ratio of 2.89 and a beta of 1.03.

Inovalon (NASDAQ:INOV) last announced its earnings results on Tuesday, February 20th. The technology company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Inovalon had a net margin of 7.51% and a return on equity of 4.79%. The business had revenue of $114.60 million during the quarter, compared to analysts’ expectations of $116.83 million. During the same period in the previous year, the company posted $0.05 earnings per share. Inovalon’s quarterly revenue was up 19.3% on a year-over-year basis. research analysts forecast that Inovalon will post 0.25 EPS for the current fiscal year.

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About Inovalon

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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