Inovalon Holdings Inc. (NASDAQ:INOV)’s share price dropped 3.4% during trading on Monday after Robert W. Baird lowered their price target on the stock from $15.00 to $14.00. Robert W. Baird currently has a neutral rating on the stock. Inovalon Holdings traded as low as $14.94 and last traded at $14.96, with a volume of 305,716 shares trading hands. The stock had previously closed at $15.49.
Other equities analysts have also issued reports about the company. Zacks Investment Research raised Inovalon Holdings from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Wednesday, July 6th. TheStreet raised Inovalon Holdings from a “sell” rating to a “hold” rating in a report on Monday, July 18th. William Blair lowered Inovalon Holdings from an “outperform” rating to a “market perform” rating in a report on Thursday, August 4th. Citigroup Inc. lowered their target price on Inovalon Holdings from $18.00 to $17.00 and set a “neutral” rating for the company in a report on Thursday, August 4th. Finally, Goldman Sachs Group Inc. lowered Inovalon Holdings from a “buy” rating to a “neutral” rating and lowered their target price for the company from $25.00 to $17.00 in a report on Thursday, August 4th. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $17.63.
In other news, Director William D. Green bought 30,000 shares of the business’s stock in a transaction on Friday, September 16th. The stock was purchased at an average cost of $16.22 per share, for a total transaction of $486,600.00. Following the completion of the transaction, the director now directly owns 38,351 shares of the company’s stock, valued at approximately $622,053.22. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William J. Teuber, Jr. bought 60,000 shares of the business’s stock in a transaction on Thursday, September 8th. The stock was purchased at an average price of $16.46 per share, with a total value of $987,600.00. Following the completion of the transaction, the director now directly owns 69,559 shares of the company’s stock, valued at $1,144,941.14. The disclosure for this purchase can be found here. 50.71% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Inovalon Holdings by 94.0% in the second quarter. BlackRock Inc. now owns 7,868 shares of the company’s stock worth $142,000 after buying an additional 3,812 shares during the period. TLP Group LLC purchased a new stake in Inovalon Holdings during the second quarter worth $150,000. Teacher Retirement System of Texas increased its stake in Inovalon Holdings by 43.4% in the second quarter. Teacher Retirement System of Texas now owns 8,686 shares of the company’s stock worth $156,000 after buying an additional 2,629 shares during the period. Public Employees Retirement System of Ohio increased its stake in Inovalon Holdings by 94.3% in the second quarter. Public Employees Retirement System of Ohio now owns 8,827 shares of the company’s stock worth $159,000 after buying an additional 4,285 shares during the period. Finally, Utah Retirement Systems purchased a new stake in Inovalon Holdings during the second quarter worth $192,000. Hedge funds and other institutional investors own 32.04% of the company’s stock.
The firm has a 50 day moving average price of $15.50 and a 200-day moving average price of $17.46. The stock has a market capitalization of $2.25 billion, a PE ratio of 49.93 and a beta of 1.06.
Inovalon Holdings (NASDAQ:INOV) last released its earnings results on Wednesday, August 3rd. The company reported $0.14 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.14. Inovalon Holdings had a net margin of 9.88% and a return on equity of 7.51%. The business earned $123.80 million during the quarter, compared to analysts’ expectations of $126.86 million. During the same quarter last year, the company earned $0.18 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. Analysts predict that Inovalon Holdings Inc. will post $0.42 EPS for the current fiscal year.
About Inovalon Holdings
Inovalon Holdings, Inc is a technology company. The Company combines advanced cloud-based data analytics and data-driven intervention platforms to provide services for health plans, hospitals, physicians, patients, pharmaceutical companies and researchers. The Company operates through developing cloud-based data analytics and data-driven intervention platforms segment and provides related services to its clients.
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