Inovalon Stake Inc (INOV) Boosted by Zacks Investment Research to Hold

Inovalon Stake Inc (INOV) Boosted by Zacks Investment Research to Hold

Inovalon Holdings Inc (NASDAQ:INOV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

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 several other reports. First Analysis assumed coverage on shares of Inovalon Holdings in a research report on Monday, October 24th. They issued an “equal weight” rating and a $14.00 price objective for the company. Pacific Crest set a $20.00 price objective on shares of Inovalon Holdings and gave the company a “buy” rating in a research report on Sunday, December 4th. Wells Fargo & Co lowered shares of Inovalon Holdings from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 13th. Finally, Bank of America Corp lowered shares of Inovalon Holdings from a “neutral” rating to an “underperform” rating and set a $10.00 price objective for the company. in a research report on Monday, February 13th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Inovalon Holdings presently has an average rating of “Hold” and an average price target of $15.50.

Shares of Inovalon Holdings (NASDAQ:INOV) traded up 0.86% during mid-day trading on Monday, reaching $11.75. 782,581 shares of the company traded hands. Inovalon Holdings has a 52 week low of $8.60 and a 52 week high of $20.05. The firm has a 50-day moving average price of $11.81 and a 200 day moving average price of $13.05. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 65.28 and a beta of 1.14.

Inovalon Holdings (NASDAQ:INOV) last released its quarterly earnings results on Wednesday, February 22nd. The company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.02. The business earned $96.09 million during the quarter, compared to analyst estimates of $95.10 million. Inovalon Holdings had a net margin of 9.37% and a return on equity of 7.79%. The company’s quarterly revenue was down 20.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 earnings per share. On average, analysts anticipate that Inovalon Holdings will post $0.30 earnings per share for the current year.

A number of large investors have recently made changes to their positions in the company. Berkeley Capital Partners LLC boosted its stake in shares of Inovalon Holdings by 2.4% in the third quarter. Berkeley Capital Partners LLC now owns 13,826 shares of the company’s stock valued at $203,000 after buying an additional 328 shares during the period. Royal Bank of Canada boosted its stake in shares of Inovalon Holdings by 5.2% in the second quarter. Royal Bank of Canada now owns 18,528 shares of the company’s stock valued at $334,000 after buying an additional 920 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of Inovalon Holdings by 6.5% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 32,042 shares of the company’s stock valued at $330,000 after buying an additional 1,950 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of Inovalon Holdings by 43.4% in the second quarter. Teacher Retirement System of Texas now owns 8,686 shares of the company’s stock valued at $156,000 after buying an additional 2,629 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Inovalon Holdings by 94.3% in the second quarter. Public Employees Retirement System of Ohio now owns 8,827 shares of the company’s stock valued at $159,000 after buying an additional 4,285 shares during the period. 28.75% of the stock is currently owned by institutional investors.

Inovalon Holdings Company Profile

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.

Get a free copy of the Zacks research report on Inovalon Holdings (INOV)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Related posts

Leave a Comment