Inovalon Holdings, Inc. (INOV) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research cut shares of Inovalon Holdings, Inc. (NASDAQ:INOV) from a hold rating to a sell rating in a research report released on Tuesday morning.

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. “

INOV has been the subject of a number of other reports. ValuEngine raised shares of Inovalon Holdings from a sell rating to a hold rating in a research note on Wednesday, September 6th. Morgan Stanley raised shares of Inovalon Holdings from an underweight rating to an equal weight rating and increased their price target for the stock from $9.00 to $14.00 in a research note on Tuesday, September 12th. KeyCorp reissued a hold rating on shares of Inovalon Holdings in a research note on Tuesday, September 12th. BidaskClub downgraded shares of Inovalon Holdings from a buy rating to a hold rating in a research note on Friday, August 11th. Finally, TheStreet raised shares of Inovalon Holdings from a d+ rating to a c- rating in a research note on Thursday, October 5th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. Inovalon Holdings currently has a consensus rating of Hold and an average price target of $14.00.

Inovalon Holdings (NASDAQ:INOV) opened at $15.35 on Tuesday. Inovalon Holdings has a one year low of $8.60 and a one year high of $17.80. The company has a market cap of $2,260.00 and a PE ratio of 73.33. The company has a debt-to-equity ratio of 0.31, a quick ratio of 5.62 and a current ratio of 5.62.

Inovalon Holdings (NASDAQ:INOV) last released its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.01. Inovalon Holdings had a net margin of 4.07% and a return on equity of 4.63%. The company had revenue of $115.90 million during the quarter, compared to the consensus estimate of $114.79 million. During the same period in the prior year, the firm earned $0.10 earnings per share. Inovalon Holdings’s revenue was up 10.4% on a year-over-year basis. sell-side analysts predict that Inovalon Holdings will post 0.24 EPS for the current year.

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

Institutional investors and hedge funds have recently made changes to their positions in the business. BNP Paribas Arbitrage SA grew its holdings in Inovalon Holdings by 336.2% in the second quarter. BNP Paribas Arbitrage SA now owns 8,397 shares of the technology company’s stock worth $110,000 after purchasing an additional 6,472 shares during the period. Advisor Group Inc. grew its holdings in Inovalon Holdings by 24.8% in the second quarter. Advisor Group Inc. now owns 10,191 shares of the technology company’s stock worth $134,000 after purchasing an additional 2,023 shares during the period. Virtu KCG Holdings LLC purchased a new stake in Inovalon Holdings in the second quarter worth about $154,000. Principal Financial Group Inc. purchased a new stake in Inovalon Holdings in the second quarter worth about $157,000. Finally, Bank of Montreal Can grew its holdings in Inovalon Holdings by 0.4% in the second quarter. Bank of Montreal Can now owns 14,006 shares of the technology company’s stock worth $184,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 28.68% of the company’s stock.

About Inovalon Holdings

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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Analyst Recommendations for Inovalon Holdings (NASDAQ:INOV)

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