Inovalon (NASDAQ:INOV) Rating Increased to Hold at Zacks Investment Research

Inovalon (NASDAQ:INOV) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday, 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. “

INOV has been the topic of a number of other reports. Piper Sandler increased their price target on shares of Inovalon from $14.00 to $22.00 and gave the stock an “underweight” rating in a report on Thursday, February 4th. SVB Leerink boosted their price target on shares of Inovalon from $27.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, February 4th. BTIG Research increased their price objective on Inovalon from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Tuesday, January 12th. TheStreet upgraded Inovalon from a “c” rating to a “b-” rating in a research report on Thursday, February 4th. Finally, Morgan Stanley upped their target price on Inovalon from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $26.10.

INOV opened at $25.64 on Thursday. Inovalon has a 12 month low of $13.39 and a 12 month high of $28.75. The company has a market cap of $3.98 billion, a PE ratio of 641.16, a price-to-earnings-growth 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 $24.48 and a 200 day moving average of $23.22.

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

In other Inovalon news, CFO Jonathan R. Boldt sold 2,500 shares of the stock in a transaction that occurred on Thursday, December 17th. The shares were sold at an average price of $19.08, for a total transaction of $47,700.00. Following the transaction, the chief financial officer now directly owns 284,405 shares in the company, valued at $5,426,447.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark Pulido sold 100,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 254,760 shares in the company, valued at $6,723,116.40. The disclosure for this sale can be found here. Insiders have sold a total of 105,996 shares of company stock worth $2,758,109 over the last quarter. Corporate insiders own 49.59% of the company’s stock.

A number of large investors have recently modified their holdings of INOV. BlackRock Inc. grew its stake in shares of Inovalon by 5.2% during the fourth quarter. BlackRock Inc. now owns 6,388,696 shares of the technology company’s stock valued at $116,084,000 after buying an additional 313,443 shares during the last quarter. Black Creek Investment Management Inc. grew its position in Inovalon by 30.8% during the 4th quarter. Black Creek Investment Management Inc. now owns 3,842,578 shares of the technology company’s stock worth $69,820,000 after acquiring an additional 905,803 shares during the last quarter. Bernzott Capital Advisors increased its stake in Inovalon by 27.1% in the 3rd quarter. Bernzott Capital Advisors now owns 2,061,327 shares of the technology company’s stock worth $54,522,000 after purchasing an additional 439,550 shares during the period. Riverbridge Partners LLC lifted its position in Inovalon by 12.0% in the fourth quarter. Riverbridge Partners LLC now owns 1,638,909 shares of the technology company’s stock valued at $29,779,000 after purchasing an additional 175,499 shares during the last quarter. Finally, Cowen Prime Services LLC boosted its stake in shares of Inovalon by 21.7% during the fourth quarter. Cowen Prime Services LLC now owns 650,300 shares of the technology company’s stock valued at $11,816,000 after purchasing an additional 115,750 shares during the period. 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, 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. The company also operates myABILITY software platform, an integrated set of cloud-based applications for providers that offers connectivity, administrative, clinical and quality analysis, management, and performance improvement capabilities to acute, post-acute, and ambulatory point-of-care provider facilities.

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