Inovalon (NASDAQ:INOV) Downgraded by BidaskClub

BidaskClub lowered shares of Inovalon (NASDAQ:INOV) from a buy rating to a hold rating in a research note released on Wednesday, BidAskClub reports.

Several other brokerages have also recently commented on INOV. Zacks Investment Research cut shares of Inovalon from a strong-buy rating to a hold rating in a research report on Wednesday, November 6th. Citigroup assumed coverage on shares of Inovalon in a research report on Wednesday, October 16th. They set a buy rating and a $21.00 price objective for the company. Piper Jaffray Companies lifted their price objective on shares of Inovalon from $10.00 to $12.00 and gave the stock an underweight rating in a research note on Thursday, October 31st. ValuEngine upgraded shares of Inovalon from a sell rating to a hold rating in a report on Wednesday, November 13th. Finally, SunTrust Banks set a $22.00 target price on shares of Inovalon and gave the company a buy rating in a research note on Monday, September 23rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Inovalon presently has an average rating of Hold and an average target price of $18.20.

INOV opened at $17.62 on Wednesday. Inovalon has a one year low of $11.50 and a one year high of $18.85. The company has a debt-to-equity ratio of 1.47, a quick ratio of 2.28 and a current ratio of 2.28. The stock’s fifty day moving average is $16.54 and its 200-day moving average is $15.65. The company has a market capitalization of $2.73 billion, a PE ratio of 97.89, a P/E/G ratio of 5.41 and a beta of 0.63.

Inovalon (NASDAQ:INOV) last announced its quarterly earnings data on Wednesday, October 30th. The technology company reported $0.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.12 by $0.03. Inovalon had a positive return on equity of 7.11% and a negative net margin of 1.37%. The business had revenue of $166.50 million during the quarter, compared to analyst estimates of $164.92 million. During the same quarter in the prior year, the firm posted $0.11 earnings per share. The company’s revenue was up 14.2% on a year-over-year basis. On average, equities research analysts forecast that Inovalon will post 0.42 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co NY boosted its stake in Inovalon by 2.9% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 21,707 shares of the technology company’s stock worth $356,000 after purchasing an additional 614 shares during the period. First Business Financial Services Inc. lifted its holdings in shares of Inovalon by 2.0% in the third quarter. First Business Financial Services Inc. now owns 36,616 shares of the technology company’s stock valued at $600,000 after purchasing an additional 721 shares in the last quarter. Advisor Group Inc. boosted its position in shares of Inovalon by 10.3% in the second quarter. Advisor Group Inc. now owns 8,675 shares of the technology company’s stock worth $125,000 after buying an additional 813 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Inovalon by 2.3% in the second quarter. UBS Asset Management Americas Inc. now owns 45,669 shares of the technology company’s stock worth $663,000 after buying an additional 1,017 shares during the period. Finally, Aperio Group LLC grew its holdings in shares of Inovalon by 10.0% during the second quarter. Aperio Group LLC now owns 20,321 shares of the technology company’s stock valued at $295,000 after buying an additional 1,848 shares in the last quarter. 33.83% of the stock is owned by institutional investors and hedge funds.

About Inovalon

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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