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Inovalon Holdings Inc (INOV) Issues FY17 Earnings Guidance – Momentous News
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Inovalon Holdings Inc (INOV) Issues FY17 Earnings Guidance

Inovalon Holdings logoInovalon Holdings Inc (NASDAQ:INOV) updated its FY17 earnings guidance on Wednesday. The company provided EPS guidance of $0.29-0.32 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.30. The company issued revenue guidance of $440.5-455.0 million, compared to the consensus revenue estimate of $444.86 million.

A number of research analysts recently issued reports on INOV shares. Zacks Investment Research raised Inovalon Holdings from a hold rating to a buy rating and set a $15.00 target price on the stock in a report on Tuesday. William Blair reaffirmed a market perform rating on shares of Inovalon Holdings in a report on Thursday, February 23rd. Finally, Bank of America Corp lowered Inovalon Holdings from a neutral rating to an underperform rating and set a $10.00 target price on the stock. in a report on Monday, February 13th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $15.33.

Inovalon Holdings Inc (NASDAQ:INOV) traded down 1.85% during trading on Friday, hitting $13.25. The company had a trading volume of 728,677 shares. The firm has a 50-day moving average of $12.39 and a 200 day moving average of $12.40. Inovalon Holdings Inc has a 12-month low of $8.60 and a 12-month high of $20.05. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of 73.20 and a beta of 1.14.

Inovalon Holdings (NASDAQ:INOV) last issued its earnings results on Wednesday, May 3rd. The technology company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. Inovalon Holdings had a return on equity of 7.79% and a net margin of 9.37%. The business had revenue of $108.31 million during the quarter, compared to analyst estimates of $102.05 million. On average, equities research analysts forecast that Inovalon Holdings Inc will post $0.30 earnings per share for the current year.

In related news, CEO Keith R. Dunleavy purchased 40,000 shares of the business’s stock in a transaction on Friday, May 5th. The stock was acquired at an average price of $12.98 per share, for a total transaction of $519,200.00. Following the purchase, the chief executive officer now owns 220,000 shares of the company’s stock, valued at $2,855,600. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Joseph R. Rostock sold 104,649 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $13.07, for a total value of $1,367,762.43. Following the completion of the transaction, the insider now owns 171,824 shares in the company, valued at approximately $2,245,739.68. The disclosure for this sale can be found here. 50.71% of the stock is currently owned by insiders.

WARNING: “Inovalon Holdings Inc (INOV) Issues FY17 Earnings Guidance” was originally reported by Markets Daily and is the property of of Markets Daily. If you are viewing this piece of content on another domain, it was copied illegally and republished in violation of U.S. & international copyright laws. The legal version of this piece of content can be accessed at https://www.themarketsdaily.com/2017/05/13/inovalon-holdings-inc-inov-updates-fy17-earnings-guidance-updated.html.

An institutional investor recently bought a new position in Inovalon Holdings stock. Dimensional Fund Advisors LP bought a new position in Inovalon Holdings Inc (NASDAQ:INOV) during the first quarter, according to its most recent disclosure with the SEC. The fund bought 51,614 shares of the technology company’s stock, valued at approximately $650,000. Institutional investors own 28.75% of the company’s stock.

Inovalon Holdings Company Profile

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.

5 Day Chart for NASDAQ:INOV

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