A number of other brokerages also recently weighed in on INOV. SunTrust Banks initiated coverage on Inovalon in a report on Friday, February 15th. They issued a buy rating and a $22.00 target price for the company. Zacks Investment Research upgraded Inovalon from a hold rating to a buy rating and set a $16.00 price objective for the company in a report on Tuesday, May 7th. Finally, ValuEngine upgraded Inovalon from a hold rating to a buy rating in a report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Inovalon currently has an average rating of Buy and an average price target of $15.50.
INOV stock traded up $0.28 during mid-day trading on Tuesday, reaching $14.13. The company’s stock had a trading volume of 11,612 shares, compared to its average volume of 547,257. The company has a market cap of $2.14 billion, a P/E ratio of 78.39, a PEG ratio of 2.72 and a beta of 0.71. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.89 and a current ratio of 1.89. Inovalon has a 12 month low of $9.19 and a 12 month high of $15.57.
In related news, CEO Keith R. Dunleavy purchased 60,801 shares of the firm’s stock in a transaction that occurred on Friday, May 10th. The stock was acquired at an average price of $13.60 per share, for a total transaction of $826,893.60. Following the completion of the acquisition, the chief executive officer now owns 460,801 shares of the company’s stock, valued at approximately $6,266,893.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Keith R. Dunleavy purchased 136,995 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were bought at an average price of $13.41 per share, with a total value of $1,837,102.95. Following the acquisition, the chief executive officer now directly owns 460,801 shares of the company’s stock, valued at approximately $6,179,341.41. The disclosure for this purchase can be found here. Insiders own 50.93% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. MetLife Investment Advisors LLC grew its holdings in Inovalon by 55.7% during the third quarter. MetLife Investment Advisors LLC now owns 46,675 shares of the technology company’s stock worth $469,000 after buying an additional 16,703 shares in the last quarter. PEAK6 Investments LLC bought a new stake in Inovalon during the fourth quarter worth $434,000. Tibra Equities Europe Ltd bought a new stake in Inovalon during the first quarter worth $487,000. FMR LLC grew its holdings in Inovalon by 39.2% during the fourth quarter. FMR LLC now owns 6,701,752 shares of the technology company’s stock worth $95,031,000 after buying an additional 1,885,737 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC bought a new stake in Inovalon during the fourth quarter worth $160,000. Institutional investors and hedge funds own 33.63% of the company’s stock.
Inovalon Company Profile
Inovalon Holdings, Inc, a technology company, provides cloud-based platforms empowering data-driven healthcare. It operates the Inovalon ONE Platform, a cloud-based platform that interconnect with the healthcare ecosystem to aggregate and analyze data in real-time, as well as empowers the application in resulting insights.
Read More: The basics of gap trading strategies
Receive News & Ratings for Inovalon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Inovalon and related companies with MarketBeat.com's FREE daily email newsletter.