Today, Inovalon Holdings Inc. (INOV) Rating Decreased to Hold at The Zacks Investment Research

Today, Inovalon Holdings Inc. (INOV) Rating Decreased to Hold at The Zacks Investment Research
Inovalon Holdings Inc. (NASDAQ:INOV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

According to Zacks, “Inovalon Holdings, Inc. is a technology company which provides cloud-based data analytics and data-driven intervention platforms for healthcare sector. The company operates through IT and services group. IT operations group manages the process steps from data receipt through to the generation of analytical outputs and services operations group manages the process steps applied to achieve impact through its data-driven intervention platforms. It serves health plans, hospitals, physicians, patients, pharmaceutical companies and researchers. Inovalon Holdings, Inc. is headquartered in Bowie, Maryland. “

A number of other analysts have also recently commented on the stock. First Analysis began coverage on shares of Inovalon Holdings in a research note on Monday, October 24th. They set an “equal weight” rating and a $14.00 price target on the stock. Wells Fargo & Co. restated a “buy” rating on shares of Inovalon Holdings in a research note on Wednesday, September 28th. Robert W. Baird dropped their price target on shares of Inovalon Holdings from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Friday, September 23rd. TheStreet cut shares of Inovalon Holdings from a “hold” rating to a “sell” rating in a research note on Wednesday, August 24th. Finally, KeyCorp dropped their price target on shares of Inovalon Holdings from $26.00 to $20.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 16th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $16.78.

Inovalon Holdings (NASDAQ:INOV) traded up 2.24% during mid-day trading on Tuesday, hitting $15.95. 243,690 shares of the company’s stock were exchanged. Inovalon Holdings has a 12 month low of $13.30 and a 12 month high of $20.63. The stock has a market cap of $2.35 billion, a PE ratio of 56.96 and a beta of 1.08. The stock’s 50 day moving average price is $14.59 and its 200-day moving average price is $16.37.

Inovalon Holdings (NASDAQ:INOV) last released its earnings results on Wednesday, November 2nd. The company reported $0.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.06 by $0.04. Inovalon Holdings had a net margin of 9.37% and a return on equity of 7.79%. The firm earned $105.01 million during the quarter, compared to the consensus estimate of $102.38 million. During the same period in the prior year, the firm earned $0.09 EPS. The company’s revenue was down .4% compared to the same quarter last year. Equities analysts expect that Inovalon Holdings will post $0.44 EPS for the current fiscal year.

In other news, CFO Thomas R. Kloster sold 109,899 shares of the firm’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $15.53, for a total transaction of $1,706,731.47. Following the sale, the chief financial officer now owns 10,050 shares in the company, valued at approximately $156,076.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William D. Green acquired 30,000 shares of the stock in a transaction dated Friday, September 16th. The shares were bought at an average price of $16.22 per share, for a total transaction of $486,600.00. Following the transaction, the director now owns 38,351 shares in the company, valued at approximately $622,053.22. The disclosure for this purchase can be found here. Insiders own 50.71% of the company’s stock.

Several hedge funds have recently bought and sold shares of INOV. Black Creek Investment Management Inc. boosted its stake in Inovalon Holdings by 11.7% in the second quarter. Black Creek Investment Management Inc. now owns 4,876,456 shares of the company’s stock valued at $87,825,000 after buying an additional 508,868 shares during the period. Vanguard Group Inc. boosted its stake in Inovalon Holdings by 32.9% in the second quarter. Vanguard Group Inc. now owns 4,649,193 shares of the company’s stock valued at $83,731,000 after buying an additional 1,150,802 shares during the period. Riverbridge Partners LLC boosted its stake in Inovalon Holdings by 5.0% in the third quarter. Riverbridge Partners LLC now owns 3,524,542 shares of the company’s stock valued at $51,846,000 after buying an additional 169,174 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Inovalon Holdings by 0.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,527,317 shares of the company’s stock valued at $22,467,000 after buying an additional 11,089 shares during the period. Finally, Neuberger Berman Group LLC boosted its stake in Inovalon Holdings by 4.1% in the second quarter. Neuberger Berman Group LLC now owns 1,477,144 shares of the company’s stock valued at $26,603,000 after buying an additional 58,058 shares during the period. Hedge funds and other institutional investors own 32.27% of the company’s stock.

About Inovalon Holdings

Inovalon Holdings, Inc is a technology company. The Company combines advanced cloud-based data analytics and data-driven intervention platforms to provide services for health plans, hospitals, physicians, patients, pharmaceutical companies and researchers. The Company operates through developing cloud-based data analytics and data-driven intervention platforms segment and provides related services to its clients.

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