Inovalon (NASDAQ:INOV) Trading 7.8% Higher

Inovalon Holdings Inc (NASDAQ:INOV) traded up 7.8% during trading on Tuesday . The stock traded as high as $15.93 and last traded at $15.71, 557,438 shares were traded during trading. An increase of 5% from the average session volume of 530,425 shares. The stock had previously closed at $14.58.

A number of research analysts have weighed in on INOV shares. Wells Fargo & Co boosted their price objective on shares of Inovalon from $17.50 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 8th. SunTrust Banks upped their price target on shares of Inovalon from $25.00 to $26.00 and gave the company a “buy” rating in a report on Thursday, February 20th. BidaskClub raised shares of Inovalon from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 23rd. Piper Sandler increased their price objective on shares of Inovalon from to in a research report on Thursday, February 20th. Finally, KeyCorp raised their price objective on shares of Inovalon from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $19.88.

The firm has a market cap of $2.43 billion, a PE ratio of 378.25 and a beta of 0.60. The business has a 50 day simple moving average of $19.01 and a two-hundred day simple moving average of $17.81. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 1.37.

Inovalon (NASDAQ:INOV) last issued its earnings results on Wednesday, February 19th. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.04. The firm had revenue of $173.50 million during the quarter, compared to analyst estimates of $172.18 million. Inovalon had a net margin of 1.13% and a return on equity of 9.12%. The business’s revenue was up 27.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 earnings per share. Equities analysts forecast that Inovalon Holdings Inc will post 0.48 earnings per share for the current year.

In other news, President Robert A. Wychulis sold 16,071 shares of Inovalon stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $19.19, for a total transaction of $308,402.49. Following the completion of the sale, the president now owns 277,322 shares of the company’s stock, valued at $5,321,809.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Keith R. Dunleavy purchased 30,071 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were bought at an average cost of $20.61 per share, with a total value of $619,763.31. Following the purchase, the chief executive officer now directly owns 567,066 shares of the company’s stock, valued at approximately $11,687,230.26. The disclosure for this purchase can be found here. 50.44% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. Bernzott Capital Advisors raised its holdings in shares of Inovalon by 3.4% in the fourth quarter. Bernzott Capital Advisors now owns 1,473,422 shares of the technology company’s stock valued at $27,730,000 after acquiring an additional 48,100 shares in the last quarter. State Street Corp increased its position in Inovalon by 3.5% during the 4th quarter. State Street Corp now owns 1,466,923 shares of the technology company’s stock valued at $27,607,000 after purchasing an additional 49,700 shares during the period. Loomis Sayles & Co. L P increased its position in Inovalon by 156.4% during the 4th quarter. Loomis Sayles & Co. L P now owns 1,464,775 shares of the technology company’s stock valued at $27,567,000 after purchasing an additional 893,475 shares during the period. Geode Capital Management LLC raised its holdings in shares of Inovalon by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 1,023,270 shares of the technology company’s stock valued at $19,257,000 after purchasing an additional 40,482 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in shares of Inovalon by 320.7% in the 4th quarter. Marshall Wace LLP now owns 807,634 shares of the technology company’s stock worth $15,200,000 after purchasing an additional 615,639 shares during the period. 33.29% of the stock is currently owned by institutional investors and hedge funds.

Inovalon Company Profile (NASDAQ:INOV)

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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