Inovalon (NASDAQ:INOV) Stock Rating Upgraded by BidaskClub
A number of other equities research analysts have also recently weighed in on INOV. Citigroup started coverage on Inovalon in a report on Tuesday, July 14th. They issued a “neutral” rating and a $20.00 price target on the stock. SVB Leerink began coverage on Inovalon in a report on Monday, April 13th. They set an “outperform” rating and a $21.00 target price on the stock. Wells Fargo & Co lowered their target price on Inovalon from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Thursday, April 30th. Zacks Investment Research cut Inovalon from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, KeyCorp increased their target price on Inovalon from $20.00 to $22.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $21.10.
NASDAQ INOV traded down $0.67 on Thursday, hitting $23.53. 740,693 shares of the company’s stock were exchanged, compared to its average volume of 386,140. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.88 and a quick ratio of 2.90. The firm’s 50-day moving average price is $19.62 and its two-hundred day moving average price is $18.61. Inovalon has a fifty-two week low of $13.39 and a fifty-two week high of $25.71. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 336.14, a P/E/G ratio of 3.10 and a beta of 0.70.
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 shares were sold at an average price of $19.28, for a total transaction of $289,200.00. Following the transaction, the chief operating officer now directly owns 596,504 shares of the company’s stock, valued at $11,500,597.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 49.59% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Two Sigma Investments LP bought a new stake in Inovalon in the first quarter worth approximately $912,000. AXA grew its position in Inovalon by 65.7% in the first quarter. AXA now owns 41,100 shares of the technology company’s stock worth $685,000 after acquiring an additional 16,300 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in Inovalon by 391.8% in the first quarter. BNP Paribas Arbitrage SA now owns 63,074 shares of the technology company’s stock worth $1,051,000 after acquiring an additional 50,248 shares in the last quarter. Invesco Ltd. grew its position in Inovalon by 1,098.4% in the first quarter. Invesco Ltd. now owns 629,311 shares of the technology company’s stock worth $10,484,000 after acquiring an additional 576,799 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in Inovalon by 9.9% in the first quarter. Principal Financial Group Inc. now owns 12,742 shares of the technology company’s stock worth $212,000 after acquiring an additional 1,144 shares in the last quarter. 33.05% of the stock is owned by institutional investors.
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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