Morgan Stanley upgraded shares of Inovalon Holdings, Inc. (NASDAQ:INOV) from an underweight rating to an equal weight rating in a report published on Tuesday morning, Marketbeat reports. They currently have $14.00 target price on the technology company’s stock, up from their prior target price of $9.00.

A number of other equities research analysts have also recently weighed in on INOV. BidaskClub upgraded Inovalon Holdings from a buy rating to a strong-buy rating in a report on Saturday, June 10th. Robert W. Baird restated a neutral rating and issued a $12.00 price target (up previously from $11.00) on shares of Inovalon Holdings in a report on Friday, June 16th. Finally, ValuEngine upgraded Inovalon Holdings from a sell rating to a hold rating in a report on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Inovalon Holdings presently has an average rating of Hold and an average price target of $14.17.

Shares of Inovalon Holdings (NASDAQ:INOV) traded down 0.446% during mid-day trading on Tuesday, hitting $16.725. The stock had a trading volume of 413,790 shares. Inovalon Holdings has a 52-week low of $8.60 and a 52-week high of $17.80. The stock has a 50 day moving average price of $16.19 and a 200-day moving average price of $13.82. The company has a market cap of $2.44 billion, a PE ratio of 140.546 and a beta of 1.17.

Inovalon Holdings (NASDAQ:INOV) last released its quarterly earnings results on Wednesday, August 2nd. The technology company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The business had revenue of $110.60 million for the quarter, compared to analysts’ expectations of $108.73 million. Inovalon Holdings had a return on equity of 5.17% and a net margin of 4.13%. The company’s revenue was down 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 EPS. On average, equities analysts expect that Inovalon Holdings will post $0.32 earnings per share for the current fiscal year.

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In related news, CEO Keith R. Dunleavy bought 62,000 shares of the stock in a transaction on Wednesday, September 13th. The shares were purchased at an average price of $16.38 per share, for a total transaction of $1,015,560.00. Following the acquisition, the chief executive officer now owns 270,000 shares in the company, valued at $4,422,600. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 48.28% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in INOV. Neuberger Berman Group LLC grew its holdings in Inovalon Holdings by 183.1% during the 1st quarter. Neuberger Berman Group LLC now owns 1,938,715 shares of the technology company’s stock valued at $24,428,000 after buying an additional 1,253,887 shares during the last quarter. Black Creek Investment Management Inc. boosted its holdings in shares of Inovalon Holdings by 13.6% during the first quarter. Black Creek Investment Management Inc. now owns 9,772,435 shares of the technology company’s stock worth $123,133,000 after purchasing an additional 1,171,150 shares during the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of Inovalon Holdings by 2,014.6% during the first quarter. Parametric Portfolio Associates LLC now owns 1,161,768 shares of the technology company’s stock worth $14,638,000 after purchasing an additional 1,106,827 shares during the last quarter. State Street Corp boosted its holdings in shares of Inovalon Holdings by 59.1% during the second quarter. State Street Corp now owns 1,151,392 shares of the technology company’s stock worth $15,140,000 after purchasing an additional 427,528 shares during the last quarter. Finally, Koch Industries Inc. acquired a new stake in shares of Inovalon Holdings during the second quarter worth $234,000. Hedge funds and other institutional investors own 28.67% of the company’s stock.

About Inovalon Holdings

Inovalon Holdings, Inc (Inovalon) is a technology company. The Company provides cloud-based platforms empowering a data-driven transformation from volume-based to value-based models to the healthcare industry. Leveraging large-scale data interconnectivity capabilities, unparalleled proprietary data sets, advanced analytics, data-driven intervention systems, and subject matter expertise, Inovalon enables the assessment and improvement of clinical and quality outcomes and financial performance across the healthcare ecosystem.

Analyst Recommendations for Inovalon Holdings (NASDAQ:INOV)

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