Zacks: Analysts Anticipate Inovalon (INOV) Will Announce Earnings of $0.08 Per Share

Wall Street brokerages expect that Inovalon (NASDAQ:INOV) will announce $0.08 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Inovalon’s earnings. The lowest EPS estimate is $0.05 and the highest is $0.11. Inovalon also posted earnings per share of $0.08 during the same quarter last year. The company is scheduled to announce its next earnings report on Wednesday, August 1st.

According to Zacks, analysts expect that Inovalon will report full year earnings of $0.32 per share for the current year, with EPS estimates ranging from $0.16 to $0.40. For the next financial year, analysts anticipate that the business will report earnings of $0.42 per share, with EPS estimates ranging from $0.22 to $0.58. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Inovalon.

Inovalon (NASDAQ:INOV) last announced its quarterly earnings results on Tuesday, May 8th. The technology company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.10). Inovalon had a net margin of 3.20% and a return on equity of 2.50%. The firm had revenue of $92.76 million during the quarter, compared to the consensus estimate of $107.76 million. During the same quarter in the previous year, the company posted $0.07 earnings per share. The firm’s revenue was down 14.4% on a year-over-year basis.

A number of brokerages have recently commented on INOV. BidaskClub upgraded Inovalon from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. ValuEngine upgraded Inovalon from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Zacks Investment Research cut Inovalon from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 12th. Wells Fargo reiterated a “market perform” rating and issued a $14.00 price target (down from $16.00) on shares of Inovalon in a research note on Wednesday, February 21st. Finally, TheStreet upgraded Inovalon from a “d+” rating to a “c” rating in a research note on Thursday, March 15th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $12.00.

Shares of Inovalon opened at $10.30 on Friday, according to Marketbeat. Inovalon has a 52 week low of $8.90 and a 52 week high of $17.80. The firm has a market capitalization of $1.57 billion, a PE ratio of 85.83, a PEG ratio of 3.79 and a beta of 1.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 4.48 and a quick ratio of 4.48.

In related news, CEO Keith R. Dunleavy bought 118,000 shares of the stock in a transaction that occurred on Wednesday, May 16th. The stock was acquired at an average cost of $9.91 per share, with a total value of $1,169,380.00. Following the transaction, the chief executive officer now directly owns 318,753 shares in the company, valued at $3,158,842.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Keith R. Dunleavy bought 36,753 shares of the stock in a transaction that occurred on Monday, May 14th. The shares were bought at an average cost of $9.97 per share, with a total value of $366,427.41. Following the completion of the transaction, the chief executive officer now owns 318,753 shares in the company, valued at $3,177,967.41. The disclosure for this purchase can be found here. 50.93% of the stock is owned by company insiders.

Large investors have recently made changes to their positions in the stock. Two Sigma Investments LP raised its position in Inovalon by 359.7% during the 4th quarter. Two Sigma Investments LP now owns 88,142 shares of the technology company’s stock worth $1,322,000 after purchasing an additional 68,967 shares during the last quarter. Citadel Advisors LLC raised its position in Inovalon by 167.3% during the 4th quarter. Citadel Advisors LLC now owns 111,580 shares of the technology company’s stock worth $1,674,000 after purchasing an additional 69,831 shares during the last quarter. Engineers Gate Manager LP raised its position in Inovalon by 28.7% during the 4th quarter. Engineers Gate Manager LP now owns 55,191 shares of the technology company’s stock worth $828,000 after purchasing an additional 12,314 shares during the last quarter. Smith Asset Management Group LP bought a new position in Inovalon during the 4th quarter worth $436,000. Finally, Cowen Prime Services LLC raised its position in Inovalon by 14.2% during the 4th quarter. Cowen Prime Services LLC now owns 213,900 shares of the technology company’s stock worth $3,209,000 after purchasing an additional 26,600 shares during the last quarter. 29.53% of the stock is owned by institutional investors and hedge funds.

About Inovalon

Inovalon Holdings, Inc, a technology company, provides cloud-based platforms empowering a data-driven transformation from volume-based to value-based models in the healthcare industry. The company's platform enables the assessment and enhancement of clinical and quality outcomes and financial performance.

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