Inovalon (NASDAQ:INOV) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Inovalon (NASDAQ:INOV) from a buy rating to a hold rating in a research note published on Wednesday, 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. “

A number of other research analysts have also weighed in on the company. Guggenheim lifted their target price on Inovalon from $22.00 to $26.00 and gave the company a buy rating in a report on Thursday, June 11th. KeyCorp lifted their price target on Inovalon from $20.00 to $22.00 and gave the company an overweight rating in a research report on Thursday, April 30th. Citigroup initiated coverage on Inovalon in a research report on Tuesday, July 14th. They set a neutral rating and a $20.00 price target for the company. Wells Fargo & Co dropped their price target on Inovalon from $22.00 to $20.00 and set an equal weight rating for the company in a research report on Thursday, April 30th. Finally, SVB Leerink initiated coverage on Inovalon in a research report on Monday, April 13th. They set an outperform rating and a $21.00 price target for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Inovalon currently has a consensus rating of Hold and a consensus price target of $21.10.

INOV stock opened at $23.53 on Wednesday. The company has a quick ratio of 2.90, a current ratio of 1.88 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $3.66 billion, a PE ratio of 336.14, a PEG ratio of 3.10 and a beta of 0.70. Inovalon has a twelve month low of $13.39 and a twelve month high of $25.71. The stock has a 50-day simple moving average of $19.62 and a two-hundred day simple moving average of $18.61.

Inovalon (NASDAQ:INOV) last posted its earnings results on Wednesday, July 29th. The technology company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.04. The business had revenue of $162.20 million during the quarter, compared to analyst estimates of $159.46 million. Inovalon had a return on equity of 9.09% and a net margin of 1.75%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 EPS. On average, equities research analysts anticipate that Inovalon will post 0.43 EPS for the current fiscal year.

In related news, COO Jason Capitel sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $19.28, for a total value of $289,200.00. Following the completion of the sale, the chief operating officer now owns 596,504 shares in the company, valued at approximately $11,500,597.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 49.59% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Marshall Wace North America L.P. bought a new stake in Inovalon in the 1st quarter worth approximately $31,000. Fifth Third Bancorp lifted its position in Inovalon by 107.8% in the 1st quarter. Fifth Third Bancorp now owns 2,641 shares of the technology company’s stock worth $44,000 after buying an additional 1,370 shares during the last quarter. Financial Management Professionals Inc. bought a new stake in Inovalon in the 2nd quarter worth approximately $73,000. Firestone Capital Management bought a new stake in Inovalon in the 2nd quarter worth approximately $77,000. Finally, Banque Cantonale Vaudoise bought a new stake in Inovalon in the 2nd quarter worth approximately $139,000. Institutional investors own 33.05% of the company’s stock.

Inovalon Company Profile

Inovalon Holdings, Inc, a technology company, provides cloud-based platforms empowering data-driven healthcare. It operates the Inovalon ONE Platform, a cloud-based 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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