Inovalon (NASDAQ:INOV) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday, BidAskClub reports.

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.

Inovalon (NASDAQ:INOV) last released its earnings results on Wednesday, July 29th. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.04. Inovalon had a return on equity of 9.09% and a net margin of 1.75%. The company had revenue of $162.20 million for the quarter, compared to analysts’ expectations of $159.46 million. During the same quarter in the previous year, the firm posted $0.13 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. On average, research analysts predict that Inovalon will post 0.43 earnings per share for the current fiscal year.

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.

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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Analyst Recommendations for Inovalon (NASDAQ:INOV)

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