Inovalon Holdings, Inc. (INOV) Given Consensus Recommendation of “Hold” by Brokerages
Inovalon Holdings, Inc. (NASDAQ:INOV) has earned a consensus recommendation of “Hold” from the ten analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $14.00.
INOV has been the topic of several recent analyst reports. ValuEngine raised Inovalon Holdings from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. Morgan Stanley raised Inovalon Holdings from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $9.00 to $14.00 in a report on Tuesday, September 12th. KeyCorp reissued a “hold” rating on shares of Inovalon Holdings in a report on Tuesday, September 12th. BidaskClub cut Inovalon Holdings from a “buy” rating to a “hold” rating in a report on Friday, August 11th. Finally, TheStreet raised Inovalon Holdings from a “d+” rating to a “c-” rating in a report on Thursday, October 5th.
Inovalon Holdings (NASDAQ:INOV) last announced its earnings results on Wednesday, November 1st. The technology company reported $0.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.01. Inovalon Holdings had a return on equity of 5.17% and a net margin of 4.13%. The firm had revenue of $115.90 million for the quarter, compared to analysts’ expectations of $114.79 million. During the same quarter in the previous year, the company earned $0.10 earnings per share. The firm’s quarterly revenue was up 10.4% compared to the same quarter last year.
In related news, CEO Keith R. Dunleavy purchased 62,000 shares of the company’s stock in a transaction on Wednesday, September 13th. The shares were bought at an average price of $16.38 per share, with a total value of $1,015,560.00. Following the completion of the acquisition, the chief executive officer now owns 270,000 shares of the company’s stock, valued at $4,422,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 48.28% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. TIAA CREF Investment Management LLC increased its holdings in shares of Inovalon Holdings by 40.1% in the second quarter. TIAA CREF Investment Management LLC now owns 191,994 shares of the technology company’s stock valued at $2,525,000 after buying an additional 54,955 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Inovalon Holdings by 93.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 290,293 shares of the technology company’s stock worth $3,818,000 after purchasing an additional 140,566 shares in the last quarter. Bank of New York Mellon Corp grew its position in Inovalon Holdings by 9.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 344,848 shares of the technology company’s stock worth $4,535,000 after purchasing an additional 30,922 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Inovalon Holdings by 86.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 472,597 shares of the technology company’s stock worth $5,954,000 after purchasing an additional 219,465 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in Inovalon Holdings by 163.3% during the 2nd quarter. Alliancebernstein L.P. now owns 102,500 shares of the technology company’s stock worth $1,348,000 after purchasing an additional 63,578 shares in the last quarter. 28.67% of the stock is currently 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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