Inovalon Holdings Inc (NASDAQ:INOV) – Equities research analysts at First Analysis issued their Q3 2019 earnings estimates for Inovalon in a report issued on Wednesday, May 22nd. First Analysis analyst expects that the technology company will post earnings per share of $0.12 for the quarter.
A number of other research firms also recently commented on INOV. BidaskClub downgraded Inovalon from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. SunTrust Banks assumed coverage on Inovalon in a report on Friday, February 15th. They issued a “buy” rating and a $22.00 price objective on the stock. Zacks Investment Research upgraded Inovalon from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Tuesday, May 7th. Finally, ValuEngine upgraded Inovalon from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $15.50.
Inovalon (NASDAQ:INOV) last released its quarterly earnings data on Wednesday, May 1st. The technology company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Inovalon had a positive return on equity of 6.43% and a negative net margin of 5.28%. The business had revenue of $145.50 million for the quarter, compared to the consensus estimate of $143.75 million. During the same quarter in the prior year, the business posted ($0.04) EPS. The business’s revenue for the quarter was up 56.8% on a year-over-year basis.
Large investors have recently added to or reduced their stakes in the stock. MetLife Investment Advisors LLC grew its stake in Inovalon by 55.7% during the 3rd quarter. MetLife Investment Advisors LLC now owns 46,675 shares of the technology company’s stock worth $469,000 after buying an additional 16,703 shares during the last quarter. PEAK6 Investments LLC acquired a new stake in Inovalon during the 4th quarter worth approximately $434,000. Tibra Equities Europe Ltd acquired a new stake in Inovalon during the 1st quarter worth approximately $487,000. FMR LLC lifted its position in Inovalon by 39.2% during the 4th quarter. FMR LLC now owns 6,701,752 shares of the technology company’s stock worth $95,031,000 after acquiring an additional 1,885,737 shares during the period. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Inovalon during the 4th quarter worth approximately $160,000. Hedge funds and other institutional investors own 32.49% of the company’s stock.
In other news, CEO Keith R. Dunleavy purchased 60,801 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were purchased at an average price of $13.60 per share, for a total transaction of $826,893.60. Following the purchase, the chief executive officer now directly owns 460,801 shares of the company’s stock, valued at approximately $6,266,893.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Keith R. Dunleavy purchased 136,995 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were purchased at an average price of $13.41 per share, for a total transaction of $1,837,102.95. Following the purchase, the chief executive officer now directly owns 460,801 shares in the company, valued at $6,179,341.41. The disclosure for this purchase can be found here. Company insiders own 50.93% of the company’s stock.
Inovalon Company Profile
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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