$115.00 Million in Sales Expected for Inovalon Holdings, Inc. (INOV) This Quarter
Equities analysts expect that Inovalon Holdings, Inc. (NASDAQ:INOV) will announce $115.00 million in sales for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Inovalon Holdings’ earnings. The highest sales estimate is $116.60 million and the lowest is $112.70 million. Inovalon Holdings reported sales of $105.01 million in the same quarter last year, which indicates a positive year-over-year growth rate of 9.5%. The company is expected to announce its next quarterly earnings results on Wednesday, November 1st.
On average, analysts expect that Inovalon Holdings will report full-year sales of $115.00 million for the current financial year, with estimates ranging from $448.20 million to $453.38 million. For the next year, analysts anticipate that the business will post sales of $486.00 million per share, with estimates ranging from $475.20 million to $500.90 million. Zacks’ sales averages are an average based on a survey of analysts that follow Inovalon Holdings.
Inovalon Holdings (NASDAQ:INOV) last released its earnings results on Wednesday, August 2nd. The technology company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. Inovalon Holdings had a return on equity of 5.17% and a net margin of 4.13%. The business had revenue of $110.60 million for the quarter, compared to analyst estimates of $108.73 million. During the same quarter last year, the firm posted $0.14 earnings per share. The business’s revenue was down 10.7% compared to the same quarter last year.
Several brokerages have recently commented on INOV. Morgan Stanley raised Inovalon Holdings from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $9.00 to $14.00 in a research note on Tuesday. KeyCorp reaffirmed a “hold” rating on shares of Inovalon Holdings in a research note on Tuesday. BidaskClub lowered Inovalon Holdings from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. ValuEngine raised Inovalon Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Finally, Robert W. Baird reaffirmed a “neutral” rating and issued a $12.00 price target (up previously from $11.00) on shares of Inovalon Holdings in a research note on Friday, June 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $14.17.
In other Inovalon Holdings news, CEO Keith R. Dunleavy purchased 62,000 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were acquired at an average price of $16.38 per share, with a total value of $1,015,560.00. Following the purchase, the chief executive officer now directly owns 270,000 shares in the company, valued at approximately $4,422,600. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 48.28% of the company’s stock.
Several institutional investors have recently made changes to their positions in INOV. Bank of Montreal Can raised its holdings in shares of Inovalon Holdings by 319.9% in the 1st quarter. Bank of Montreal Can now owns 13,945 shares of the technology company’s stock valued at $176,000 after buying an additional 10,624 shares during the period. Karp Capital Management Corp purchased a new stake in shares of Inovalon Holdings in the 1st quarter valued at $421,000. Engineers Gate Manager LP purchased a new stake in shares of Inovalon Holdings in the 1st quarter valued at $932,000. Parametric Portfolio Associates LLC raised its holdings in shares of Inovalon Holdings by 2,014.6% in the 1st quarter. Parametric Portfolio Associates LLC now owns 1,161,768 shares of the technology company’s stock valued at $14,638,000 after buying an additional 1,106,827 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Inovalon Holdings by 0.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 88,401 shares of the technology company’s stock valued at $1,116,000 after buying an additional 225 shares during the period. 28.67% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Inovalon Holdings (NASDAQ INOV) opened at 16.77 on Friday. The firm has a 50-day moving average price of $16.19 and a 200-day moving average price of $13.82. Inovalon Holdings has a 1-year low of $8.60 and a 1-year high of $17.80. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 140.97 and a beta of 1.17.
Inovalon Holdings Company Profile
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.
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