Inovalon (INOV) Hits New 12-Month Low at $10.63

Inovalon Holdings Inc (NASDAQ:INOV)’s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $10.63 and last traded at $10.62, with a volume of 203715 shares. The stock had previously closed at $10.95.

A number of equities analysts have recently issued reports on INOV shares. TheStreet upgraded shares of Inovalon from a “d+” rating to a “c” rating in a research report on Thursday, March 15th. Zacks Investment Research upgraded shares of Inovalon from a “sell” rating to a “hold” rating in a research report on Wednesday, January 3rd. Wells Fargo restated a “market perform” rating and set a $14.00 target price (down from $16.00) on shares of Inovalon in a research report on Wednesday, February 21st. BidaskClub lowered shares of Inovalon from a “hold” rating to a “sell” rating in a research report on Saturday, December 2nd. Finally, ValuEngine lowered shares of Inovalon from a “hold” rating to a “sell” rating in a research report on Wednesday, March 14th. Three equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $12.00.

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The company has a debt-to-equity ratio of 0.32, a quick ratio of 4.82 and a current ratio of 4.82. The firm has a market capitalization of $1,581.20, a PE ratio of 43.96, a price-to-earnings-growth ratio of 3.13 and a beta of 0.96.

Inovalon (NASDAQ:INOV) last posted its quarterly earnings data on Tuesday, February 20th. The technology company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Inovalon had a net margin of 7.51% and a return on equity of 4.79%. The firm had revenue of $114.60 million during the quarter, compared to analysts’ expectations of $116.83 million. During the same quarter last year, the business earned $0.05 earnings per share. The business’s quarterly revenue was up 19.3% on a year-over-year basis. equities research analysts forecast that Inovalon Holdings Inc will post 0.25 earnings per share for the current fiscal year.

In related news, insider Shauna L. Vernal sold 44,270 shares of Inovalon stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $14.00, for a total value of $619,780.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 48.28% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. grew its position in Inovalon by 1.2% in the 4th quarter. BlackRock Inc. now owns 4,168,708 shares of the technology company’s stock valued at $62,531,000 after buying an additional 51,184 shares during the last quarter. Neuberger Berman Group LLC grew its position in Inovalon by 3.1% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,955,690 shares of the technology company’s stock valued at $33,345,000 after buying an additional 58,447 shares during the last quarter. State Street Corp grew its position in Inovalon by 59.1% in the 2nd quarter. State Street Corp now owns 1,151,392 shares of the technology company’s stock valued at $15,140,000 after buying an additional 427,528 shares during the last quarter. Senvest Management LLC grew its position in Inovalon by 3.0% in the 4th quarter. Senvest Management LLC now owns 1,039,700 shares of the technology company’s stock valued at $15,596,000 after buying an additional 30,000 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Inovalon by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 587,103 shares of the technology company’s stock valued at $8,806,000 after buying an additional 8,463 shares during the last quarter. Hedge funds and other institutional investors own 27.91% of the company’s stock.

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About Inovalon

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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