Inovalon (NASDAQ:INOV) was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating in a report released on Wednesday.

Other equities research analysts have also recently issued reports about the company. Zacks Investment Research raised Inovalon from a “sell” rating to a “hold” rating in a report on Wednesday, January 3rd. Wells Fargo & Co reaffirmed a “market perform” rating and set a $14.00 price target (down from $16.00) on shares of Inovalon in a report on Wednesday, February 21st. BidaskClub cut Inovalon from a “hold” rating to a “sell” rating in a report on Saturday, December 2nd. Finally, Morgan Stanley cut Inovalon from an “equal weight” rating to an “underweight” rating and set a $10.00 price target for the company. in a report on Wednesday. Three analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. The company has a consensus rating of “Hold” and an average target price of $12.00.

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Inovalon (INOV) traded down $0.70 during mid-day trading on Wednesday, reaching $11.20. The company had a trading volume of 1,039,075 shares, compared to its average volume of 594,029. Inovalon has a 12-month low of $10.70 and a 12-month high of $17.80. The firm has a market cap of $1,630.00, a PE ratio of 86.15, a price-to-earnings-growth ratio of 3.41 and a beta of 0.96. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.82 and a quick ratio of 4.82.

Inovalon (NASDAQ:INOV) last released its quarterly earnings results on Tuesday, February 20th. The technology company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.01). Inovalon had a net margin of 7.51% and a return on equity of 4.79%. The business had revenue of $114.60 million for the quarter, compared to analyst estimates of $116.83 million. During the same period in the prior year, the business earned $0.05 earnings per share. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. equities research analysts forecast that Inovalon will post 0.25 earnings per share for the current year.

In related news, insider Shauna L. Vernal sold 44,270 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $14.00, for a total transaction of $619,780.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 48.28% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. boosted its position in Inovalon by 3.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 104,171 shares of the technology company’s stock valued at $1,776,000 after buying an additional 3,388 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Inovalon by 5.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 75,204 shares of the technology company’s stock valued at $1,282,000 after buying an additional 3,831 shares during the last quarter. Engineers Gate Manager LP boosted its position in Inovalon by 16.5% in the 3rd quarter. Engineers Gate Manager LP now owns 42,877 shares of the technology company’s stock valued at $731,000 after buying an additional 6,068 shares during the last quarter. Geode Capital Management LLC boosted its position in Inovalon by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 587,103 shares of the technology company’s stock valued at $8,806,000 after buying an additional 8,463 shares during the last quarter. Finally, FNY Managed Accounts LLC bought a new position in Inovalon in the 4th quarter valued at $150,000. Hedge funds and other institutional investors own 27.92% of the company’s stock.

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About Inovalon

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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