Inovalon Holdings, Inc. (INOV) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS
Inovalon Holdings, Inc. (NASDAQ:INOV) released its quarterly earnings data on Tuesday. The technology company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01, Bloomberg Earnings reports. The business had revenue of $115.90 million for the quarter, compared to analyst estimates of $114.79 million. Inovalon Holdings had a return on equity of 5.17% and a net margin of 4.13%. Inovalon Holdings’s revenue was up 10.4% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share.
In other news, CEO Keith R. Dunleavy acquired 62,000 shares of the business’s stock in a transaction dated Wednesday, September 13th. The stock was purchased at an average cost of $16.38 per share, for a total transaction of $1,015,560.00. Following the acquisition, the chief executive officer now owns 270,000 shares of the company’s stock, valued at $4,422,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 48.28% of the stock is currently owned by corporate insiders.
Several analysts recently weighed in on the company. KeyCorp reaffirmed a “hold” rating on shares of Inovalon Holdings in a research note on Tuesday, September 12th. TheStreet raised Inovalon Holdings from a “d+” rating to a “c-” rating in a research note on Thursday, October 5th. Morgan Stanley raised Inovalon Holdings from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $9.00 to $14.00 in a research note on Tuesday, September 12th. ValuEngine raised Inovalon Holdings from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Finally, BidaskClub lowered Inovalon Holdings from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $14.00.
TRADEMARK VIOLATION WARNING: This news story was originally posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are viewing this news story on another website, it was copied illegally and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://theolympiareport.com/2017/11/01/inovalon-holdings-inc-inov-announces-quarterly-earnings-results-beats-expectations-by-0-01-eps.html.
Inovalon Holdings Company Profile
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.
Receive News & Ratings for Inovalon Holdings Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inovalon Holdings Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.