Wall Street brokerages expect Inovalon Holdings, Inc. (NASDAQ:INOV) to post $114.55 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Inovalon Holdings’ earnings, with estimates ranging from $112.70 million to $115.50 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 9.1%. The company is scheduled to announce its next earnings report after the market closes on Wednesday, November 1st.

According to Zacks, analysts expect that Inovalon Holdings will report full-year sales of $114.55 million for the current year, with estimates ranging from $448.20 million to $453.38 million. For the next financial year, analysts forecast that the business will post sales of $493.28 million per share, with estimates ranging from $475.20 million to $502.30 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for Inovalon Holdings.

Inovalon Holdings (NASDAQ:INOV) last posted its earnings results on Wednesday, August 2nd. The technology company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate 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 during the quarter, compared to the consensus estimate of $108.73 million. During the same quarter last year, the company earned $0.14 EPS. Inovalon Holdings’s revenue was down 10.7% on a year-over-year basis.

INOV has been the topic of a number of recent analyst reports. ValuEngine upgraded shares of Inovalon Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Morgan Stanley upgraded shares of Inovalon Holdings from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $9.00 to $14.00 in a report on Tuesday, September 12th. KeyCorp restated a “hold” rating on shares of Inovalon Holdings in a report on Tuesday, September 12th. BidaskClub cut shares of Inovalon Holdings from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Finally, TheStreet upgraded shares of Inovalon Holdings from a “d+” rating to a “c-” rating in a report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $14.00.

Shares of Inovalon Holdings (NASDAQ INOV) opened at 16.90 on Friday. The company’s 50 day moving average price is $16.81 and its 200-day moving average price is $16.81. The firm has a market capitalization of $2.46 billion, a PE ratio of 142.02 and a beta of 1.31. Inovalon Holdings has a 52 week low of $8.60 and a 52 week high of $17.80.

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In other news, CEO Keith R. Dunleavy acquired 62,000 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The shares were purchased at an average cost of $16.38 per share, for a total transaction of $1,015,560.00. Following the transaction, the chief executive officer now directly owns 270,000 shares of the company’s stock, valued at $4,422,600. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 48.28% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can grew its stake in Inovalon Holdings by 0.4% during the second quarter. Bank of Montreal Can now owns 14,006 shares of the technology company’s stock valued at $184,000 after acquiring an additional 61 shares in the last quarter. Bessemer Group Inc. grew its stake in Inovalon Holdings by 4.9% during the second quarter. Bessemer Group Inc. now owns 14,316 shares of the technology company’s stock valued at $189,000 after acquiring an additional 666 shares in the last quarter. Stifel Financial Corp grew its stake in Inovalon Holdings by 2.4% during the first quarter. Stifel Financial Corp now owns 30,821 shares of the technology company’s stock valued at $382,000 after acquiring an additional 726 shares in the last quarter. Advisor Group Inc. grew its stake in Inovalon Holdings by 24.8% during the second quarter. Advisor Group Inc. now owns 10,191 shares of the technology company’s stock valued at $134,000 after acquiring an additional 2,023 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in Inovalon Holdings by 5.8% during the first quarter. Alliancebernstein L.P. now owns 38,922 shares of the technology company’s stock valued at $490,000 after acquiring an additional 2,130 shares in the last quarter. 28.67% of the stock is owned by institutional investors.

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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