Inovalon Holdings, Inc. (NASDAQ:INOV) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

INOV has been the subject of a number of other reports. Zacks Investment Research cut shares of Inovalon Holdings from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. Robert W. Baird reiterated a “neutral” rating and issued a $12.00 target price (up from $11.00) on shares of Inovalon Holdings in a research report on Friday, June 16th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $15.17.

Inovalon Holdings (NASDAQ INOV) opened at 13.05 on Friday. The firm has a 50 day moving average of $13.09 and a 200-day moving average of $12.59. The stock has a market capitalization of $1.90 billion, a PE ratio of 109.66 and a beta of 1.19. Inovalon Holdings has a 52 week low of $8.60 and a 52 week high of $16.64.

Inovalon Holdings (NASDAQ:INOV) last issued its earnings results on Wednesday, August 2nd. The technology company reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.01. The business had revenue of $110.60 million during the quarter, compared to analysts’ expectations of $108.73 million. Inovalon Holdings had a net margin of 4.13% and a return on equity of 5.17%. The company’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 earnings per share. On average, equities analysts predict that Inovalon Holdings will post $0.31 EPS for the current year.

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In related news, insider Shauna L. Vernal sold 19,332 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $13.60, for a total transaction of $262,915.20. Following the completion of the sale, the insider now directly owns 66,261 shares in the company, valued at $901,149.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 48.28% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in INOV. Black Creek Investment Management Inc. boosted its stake in Inovalon Holdings by 13.6% in the first quarter. Black Creek Investment Management Inc. now owns 9,772,435 shares of the technology company’s stock valued at $123,133,000 after buying an additional 1,171,150 shares during the last quarter. Vanguard Group Inc. boosted its stake in Inovalon Holdings by 3.1% in the second quarter. Vanguard Group Inc. now owns 4,960,754 shares of the technology company’s stock valued at $65,234,000 after buying an additional 151,473 shares during the last quarter. Riverbridge Partners LLC boosted its stake in Inovalon Holdings by 4.3% in the first quarter. Riverbridge Partners LLC now owns 3,217,399 shares of the technology company’s stock valued at $40,539,000 after buying an additional 131,176 shares during the last quarter. FMR LLC boosted its stake in Inovalon Holdings by 6.7% in the first quarter. FMR LLC now owns 2,565,829 shares of the technology company’s stock valued at $32,329,000 after buying an additional 161,500 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in Inovalon Holdings by 183.1% in the first quarter. Neuberger Berman Group LLC now owns 1,938,715 shares of the technology company’s stock valued at $24,428,000 after buying an additional 1,253,887 shares during the last quarter. Hedge funds and other institutional investors own 29.45% of the company’s stock.

About Inovalon Holdings

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.

Analyst Recommendations for Inovalon Holdings (NASDAQ:INOV)

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