Oppenheimer Asset Management Inc. bought a new stake in Inovalon Holdings Inc (NASDAQ:INOV) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 10,707 shares of the technology company’s stock, valued at approximately $108,000.
Several other large investors have also recently modified their holdings of the company. FMR LLC boosted its stake in shares of Inovalon by 372.5% in the 2nd quarter. FMR LLC now owns 4,770,907 shares of the technology company’s stock valued at $47,351,000 after purchasing an additional 3,761,107 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Inovalon by 12.0% in the 2nd quarter. BlackRock Inc. now owns 4,717,964 shares of the technology company’s stock valued at $46,824,000 after purchasing an additional 505,301 shares in the last quarter. Summit Partners L P acquired a new stake in shares of Inovalon in the 2nd quarter valued at $34,631,000. Northern Trust Corp boosted its stake in shares of Inovalon by 7.9% in the 2nd quarter. Northern Trust Corp now owns 913,675 shares of the technology company’s stock valued at $9,068,000 after purchasing an additional 67,056 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. boosted its stake in shares of Inovalon by 9.5% in the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 689,434 shares of the technology company’s stock valued at $6,843,000 after purchasing an additional 60,000 shares in the last quarter. Institutional investors own 34.08% of the company’s stock.
INOV has been the topic of several recent analyst reports. ValuEngine downgraded shares of Inovalon from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th. Wells Fargo & Co reduced their target price on shares of Inovalon from $14.00 to $11.00 and set a “market perform” rating on the stock in a research note on Thursday. BidaskClub downgraded shares of Inovalon from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Finally, Zacks Investment Research downgraded shares of Inovalon from a “buy” rating to a “hold” rating in a research note on Saturday, November 3rd. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Inovalon presently has a consensus rating of “Hold” and an average price target of $10.67.
Shares of NASDAQ:INOV opened at $11.51 on Friday. The firm has a market capitalization of $1.54 billion, a PE ratio of 50.04, a PEG ratio of 2.55 and a beta of 1.02. The company has a debt-to-equity ratio of 1.38, a quick ratio of 1.95 and a current ratio of 1.95. Inovalon Holdings Inc has a 52 week low of $8.90 and a 52 week high of $16.90.
Inovalon (NASDAQ:INOV) last issued its quarterly earnings results on Wednesday, November 7th. The technology company reported $0.11 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.01). The company had revenue of $145.81 million for the quarter, compared to analyst estimates of $159.53 million. Inovalon had a positive return on equity of 4.20% and a negative net margin of 2.12%. The firm’s quarterly revenue was up 25.9% on a year-over-year basis. During the same quarter last year, the company earned $0.09 EPS. On average, sell-side analysts forecast that Inovalon Holdings Inc will post 0.28 EPS for the current year.
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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