Investors book profits on Inovalon Holdings Inc (NASDAQ: INOV) after a steep rally

Free $50 Forex No-Deposit Bonus

Inovalon Holdings Inc (NASDAQ:INOV) stock surged over 16.7% on September 12th, 2017 on above average volume after the company has announced that it has entered into a five-year engagement with UnitedHealthcare for the implementation of the Inovalon ONE Platform. This agreement will enable ultra-high speed analytics empowering greater clinical quality outcomes insight and real-time data visualization within its Medicare Advantage and commercial membership nationwide. Investors must be booking profits in the stock which fell over 4.7% on September 13th, 2017 (as of 12:45PM EDT; Source: Google finance)

Moreover, the engagement will leverage multiple cloud-native Components within the Inovalon ONE Platform, to enable unprecedented data integration and analytical processing speeds, and subsequent real-time data visualization, to inform accelerated decision-making and speed-to-impact for clinical quality programs. The engagement will further help to drive population health programs for more than 30 million members of UnitedHealthcare across the United States.

William A. Hagan, president, United Clinical Services said that through the implementation of Inovalon’s platform the company are able to achieve scale and analytical processing speeds that were not previously possible, will produce an important clinical insights much more quickly and help deliver industry-leading quality to the members.

The trend toward quality and value-based care models are increasing, the sophistication of the technologies needed to achieve meaningful and differentiated results has never been more critical to success. As per Keith Dunleavy, M.D., chief executive officer and chairman of the board of INOV, the company is very pleased to be expanding the partnership with UnitedHealthcare, which is a clear industry leader, helping to support their data-driven approach to care quality.

Meanwhile, the financial terms for the agreement weren’t disclosed, so investors will likely need to wait until INOV’s third-quarter report in early November to receive more color on that. Although putting aside its financial contribution, this engagement is a massive vote of confidence in the long-term viability of Inovalon’s solutions

On the other hand, INOV stock had its “hold” rating reiterated by analysts at KeyCorp in a research note issued on Tuesday. Morgan Stanley has upgraded Inovalon Holdings from an “underweight” rating to an “equal weight” rating and raised their price objective for the stock from $9.00 to $14.00 in a research report. Finally, ValuEngine has upgraded Inovalon Holdings stock from a “sell” rating to a “hold” rating in a research report recently.

 

Copyright © 2018. All Rights Reserved. FXDailyReport.Com