BidaskClub Downgrades Inovalon (INOV) to Sell

Inovalon (NASDAQ:INOV) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other equities research analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of Inovalon from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. TheStreet raised shares of Inovalon from a “d+” rating to a “c-” rating in a research report on Thursday, October 5th. KeyCorp reissued a “hold” rating on shares of Inovalon in a research report on Tuesday, September 12th. Morgan Stanley raised shares of Inovalon 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 research report on Tuesday, September 12th. Finally, ValuEngine raised shares of Inovalon from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $14.00.

Shares of Inovalon (NASDAQ INOV) traded down $0.30 during mid-day trading on Friday, reaching $15.60. 383,838 shares of the company’s stock were exchanged, compared to its average volume of 316,486. Inovalon has a 52-week low of $8.60 and a 52-week high of $17.80. The company has a debt-to-equity ratio of 0.31, a current ratio of 5.62 and a quick ratio of 5.62. The firm has a market cap of $2,319.36, a price-to-earnings ratio of 75.71, a P/E/G ratio of 4.65 and a beta of 1.24.

Inovalon (NASDAQ:INOV) last issued its quarterly earnings data on Wednesday, November 1st. The technology company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Inovalon had a net margin of 4.07% and a return on equity of 4.63%. The firm had revenue of $115.90 million for the quarter, compared to analyst estimates of $114.79 million. During the same quarter in the previous year, the business posted $0.10 EPS. The firm’s revenue was up 10.4% compared to the same quarter last year. research analysts predict that Inovalon will post 0.24 EPS for the current fiscal year.

In related news, insider Shauna L. Vernal sold 5,908 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $16.01, for a total transaction of $94,587.08. Following the completion of the sale, the insider now owns 47,309 shares of the company’s stock, valued at approximately $757,417.09. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Keith R. Dunleavy acquired 62,000 shares of the stock in a transaction that occurred on Wednesday, September 13th. The shares were acquired at an average cost of $16.38 per share, with a total value of $1,015,560.00. Following the transaction, the chief executive officer now owns 270,000 shares in the company, valued at $4,422,600. The disclosure for this purchase can be found here. 48.28% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA grew its position in shares of Inovalon by 336.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,397 shares of the technology company’s stock valued at $110,000 after buying an additional 6,472 shares during the last quarter. Advisor Group Inc. grew its position in shares of Inovalon by 24.8% during the 2nd quarter. Advisor Group Inc. now owns 10,191 shares of the technology company’s stock valued at $134,000 after buying an additional 2,023 shares during the last quarter. Virtu KCG Holdings LLC bought a new stake in shares of Inovalon during the 2nd quarter valued at about $154,000. Principal Financial Group Inc. bought a new stake in shares of Inovalon during the 2nd quarter valued at about $157,000. Finally, Bank of Montreal Can grew its position in shares of Inovalon by 0.4% during the 2nd quarter. Bank of Montreal Can now owns 14,006 shares of the technology company’s stock valued at $184,000 after buying an additional 61 shares during the last quarter. 28.14% of the stock is owned by institutional investors and hedge funds.

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About Inovalon

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 (NASDAQ:INOV)

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