Equities research analysts predict that Inovalon Holdings Inc (NASDAQ:INOV) will post earnings of $0.12 per share for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Inovalon’s earnings, with estimates ranging from $0.11 to $0.14. Inovalon posted earnings of $0.09 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 33.3%. The firm is scheduled to announce its next earnings report on Wednesday, November 7th.
According to Zacks, analysts expect that Inovalon will report full year earnings of $0.35 per share for the current year, with EPS estimates ranging from $0.32 to $0.39. For the next financial year, analysts forecast that the company will report earnings of $0.44 per share, with EPS estimates ranging from $0.32 to $0.54. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Inovalon.
Inovalon (NASDAQ:INOV) last issued its quarterly earnings results on Wednesday, August 1st. The technology company reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.08. Inovalon had a negative net margin of 0.40% and a positive return on equity of 3.69%. The company had revenue of $152.80 million during the quarter, compared to the consensus estimate of $147.09 million. During the same period in the prior year, the company earned $0.08 EPS. Inovalon’s revenue was up 38.2% on a year-over-year basis.
INOV has been the topic of several recent analyst reports. BidaskClub upgraded Inovalon from a “hold” rating to a “buy” rating in a report on Tuesday, August 7th. ValuEngine upgraded Inovalon from a “sell” rating to a “hold” rating in a report on Thursday, August 2nd. Finally, Zacks Investment Research upgraded Inovalon from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $12.67.
NASDAQ INOV remained flat at $$11.55 on Monday. 315,073 shares of the company’s stock were exchanged, compared to its average volume of 566,550. The company has a quick ratio of 1.95, a current ratio of 1.95 and a debt-to-equity ratio of 1.38. The firm has a market cap of $1.79 billion, a P/E ratio of 50.22, a price-to-earnings-growth ratio of 2.98 and a beta of 1.08. Inovalon has a 52 week low of $8.90 and a 52 week high of $17.80.
In related news, Director Lee D. Roberts acquired 10,000 shares of the business’s stock in a transaction on Friday, June 8th. The shares were purchased at an average price of $10.54 per share, for a total transaction of $105,400.00. Following the acquisition, the director now owns 91,804 shares in the company, valued at $967,614.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 50.93% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC increased its holdings 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 during the period. BlackRock Inc. increased its holdings 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 during the period. Summit Partners L P acquired a new position in shares of Inovalon in the 2nd quarter valued at about $34,631,000. Neuberger Berman Group LLC increased its holdings in shares of Inovalon by 47.0% in the 1st quarter. Neuberger Berman Group LLC now owns 3,304,988 shares of the technology company’s stock valued at $35,032,000 after purchasing an additional 1,056,781 shares during the period. Finally, Tikvah Management LLC increased its holdings in shares of Inovalon by 97.2% in the 1st quarter. Tikvah Management LLC now owns 1,963,400 shares of the technology company’s stock valued at $20,812,000 after purchasing an additional 968,000 shares during the period. Institutional investors own 29.57% of the company’s stock.
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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