Inovalon Holdings Inc (NASDAQ:INOV) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $14.87 and last traded at $14.66, with a volume of 16810 shares changing hands. The stock had previously closed at $14.34.
INOV has been the subject of a number of recent research reports. BidaskClub upgraded shares of Inovalon from a “hold” rating to a “buy” rating in a research note on Saturday, October 13th. ValuEngine upgraded shares of Inovalon from a “sell” rating to a “hold” rating in a research note on Wednesday, October 17th. Morgan Stanley upgraded shares of Inovalon from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $10.00 to $13.00 in a research note on Thursday, December 20th. Wells Fargo & Co reduced their price objective on shares of Inovalon from $14.00 to $11.00 and set a “market perform” rating for the company in a research note on Thursday, November 8th. Finally, Zacks Investment Research cut shares of Inovalon from a “buy” rating to a “hold” rating in a research note on Wednesday, January 9th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $13.33.
The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $2.16 billion, a PE ratio of 63.65, a price-to-earnings-growth ratio of 3.37 and a beta of 0.77.
In related news, COO Jason Capitel acquired 20,000 shares of the company’s stock in a transaction on Tuesday, November 13th. The stock was purchased at an average cost of $11.06 per share, for a total transaction of $221,200.00. Following the completion of the purchase, the chief operating officer now directly owns 357,833 shares of the company’s stock, valued at approximately $3,957,632.98. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 50.93% of the stock is owned by company insiders.
A number of hedge funds have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. bought a new position in shares of Inovalon during the 3rd quarter valued at about $108,000. California Public Employees Retirement System boosted its position in shares of Inovalon by 93.0% in the 2nd quarter. California Public Employees Retirement System now owns 19,489 shares of the technology company’s stock worth $193,000 after purchasing an additional 9,389 shares in the last quarter. Jefferies Group LLC lifted its holdings in shares of Inovalon by 29.9% during the 3rd quarter. Jefferies Group LLC now owns 30,981 shares of the technology company’s stock valued at $311,000 after buying an additional 7,124 shares during the period. MetLife Investment Advisors LLC lifted its holdings in shares of Inovalon by 55.7% during the 3rd quarter. MetLife Investment Advisors LLC now owns 46,675 shares of the technology company’s stock valued at $469,000 after buying an additional 16,703 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Inovalon by 11.2% during the 2nd quarter. Rhumbline Advisers now owns 63,533 shares of the technology company’s stock valued at $631,000 after buying an additional 6,380 shares during the period. Hedge funds and other institutional investors own 32.83% of the company’s stock.
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About Inovalon (NASDAQ:INOV)
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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