Inovalon (NASDAQ:INOV) Lifted to “Hold” at Zacks Investment Research


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Zacks Investment Research upgraded shares of Inovalon (NASDAQ:INOV) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

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. “

Other equities research analysts also recently issued reports about the stock. BTIG Research boosted their price target on shares of Inovalon from $25.00 to $30.00 and gave the stock a buy rating in a research note on Tuesday, January 12th. SVB Leerink upped their target price on shares of Inovalon from $27.00 to $31.00 and gave the company an outperform rating in a research note on Thursday, February 4th. Morgan Stanley upped their target price on shares of Inovalon from $23.00 to $25.00 and gave the company an equal weight rating in a research note on Thursday, February 4th. Piper Sandler upped their target price on shares of Inovalon from $14.00 to $22.00 and gave the company an underweight rating in a research note on Thursday, February 4th. Finally, TheStreet upgraded shares of Inovalon from a c rating to a b- rating in a report on Thursday, February 4th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average price target of $26.44.

Shares of NASDAQ INOV opened at $29.95 on Wednesday. Inovalon has a 1-year low of $15.15 and a 1-year high of $30.56. The company has a market cap of $4.65 billion, a PE ratio of 748.94, a P/E/G ratio of 2.19 and a beta of 0.64. The company has a current ratio of 1.95, a quick ratio of 1.95 and a debt-to-equity ratio of 1.33. The company has a 50-day moving average of $26.78 and a two-hundred day moving average of $23.72.

Inovalon (NASDAQ:INOV) last posted its quarterly earnings results on Wednesday, February 3rd. The technology company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.05. The business had revenue of $189.40 million during the quarter, compared to the consensus estimate of $187.44 million. Inovalon had a net margin of 0.87% and a return on equity of 9.07%. Inovalon’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 earnings per share. As a group, equities research analysts forecast that Inovalon will post 0.45 earnings per share for the current year.

In other Inovalon news, insider Jason Capitel sold 20,000 shares of the stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $28.88, for a total value of $577,600.00. Also, Director Mark Pulido sold 100,000 shares of the stock in a transaction on Friday, February 5th. The shares were sold at an average price of $26.39, for a total transaction of $2,639,000.00. Following the completion of the sale, the director now owns 254,760 shares of the company’s stock, valued at approximately $6,723,116.40. The disclosure for this sale can be found here. Insiders have sold 120,996 shares of company stock valued at $3,239,309 in the last 90 days. 49.59% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. Marshall Wace North America L.P. bought a new position in shares of Inovalon in the first quarter valued at about $31,000. Neo Ivy Capital Management bought a new position in shares of Inovalon in the fourth quarter valued at about $75,000. Truvestments Capital LLC bought a new position in shares of Inovalon in the fourth quarter valued at about $142,000. New York Life Investments Alternatives bought a new position in shares of Inovalon in the fourth quarter valued at about $261,000. Finally, Paloma Partners Management Co bought a new position in shares of Inovalon in the third quarter valued at about $264,000. Hedge funds and other institutional investors own 33.64% of the company’s stock.

About Inovalon

Inovalon Holdings, Inc provides cloud-based platforms for data-driven healthcare. It operates Inovalon ONE Platform, an integrated, real-time cloud native platform that interconnect with the healthcare ecosystem to aggregate and analyze data in real-time, as well as empowers the application in resulting insights.

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