Inovalon (NASDAQ:INOV) Updates Q3 2019 Earnings Guidance

Inovalon (NASDAQ:INOV) issued an update on its third quarter 2019 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.11-0.13 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.12. The company issued revenue guidance of $162.5-167.5 million, compared to the consensus revenue estimate of $164.96 million.Inovalon also updated its FY 2019 guidance to $0.45-0.49 EPS.

Inovalon stock traded down $0.24 during trading on Wednesday, hitting $15.00. The company had a trading volume of 391,790 shares, compared to its average volume of 439,224. Inovalon has a 1-year low of $9.19 and a 1-year high of $15.65. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 1.46. The company has a 50 day simple moving average of $14.64. The stock has a market cap of $2.34 billion, a PE ratio of 83.33, a price-to-earnings-growth ratio of 2.98 and a beta of 0.64.

Inovalon (NASDAQ:INOV) last posted its earnings results on Wednesday, May 1st. The technology company reported $0.10 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.03. Inovalon had a negative net margin of 5.28% and a positive return on equity of 6.43%. The firm had revenue of $145.50 million during the quarter, compared to the consensus estimate of $143.75 million. During the same quarter last year, the firm earned ($0.04) EPS. The firm’s revenue for the quarter was up 56.8% on a year-over-year basis. On average, equities analysts anticipate that Inovalon will post 0.37 earnings per share for the current year.

Several analysts recently weighed in on INOV shares. ValuEngine upgraded shares of Inovalon from a hold rating to a buy rating in a report on Friday, April 26th. Zacks Investment Research cut shares of Inovalon from a buy rating to a hold rating in a research report on Saturday. Finally, BidaskClub cut shares of Inovalon from a buy rating to a hold rating in a research report on Tuesday, June 11th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $15.75.

In other Inovalon news, CEO Keith R. Dunleavy purchased 136,995 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was bought at an average price of $13.41 per share, with a total value of $1,837,102.95. Following the transaction, the chief executive officer now directly owns 460,801 shares of the company’s stock, valued at approximately $6,179,341.41. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Keith R. Dunleavy acquired 60,801 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were purchased at an average cost of $13.60 per share, with a total value of $826,893.60. Following the completion of the transaction, the chief executive officer now owns 460,801 shares in the company, valued at approximately $6,266,893.60. The disclosure for this purchase can be found here. Company insiders own 50.44% 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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Earnings History and Estimates for Inovalon (NASDAQ:INOV)

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