Innoviva, Inc. (NASDAQ:INVA) Shares Sold by Bank of Montreal Can

Bank of Montreal Can decreased its holdings in Innoviva, Inc. (NASDAQ:INVA) by 6.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,846 shares of the biotechnology company’s stock after selling 1,061 shares during the quarter. Bank of Montreal Can’s holdings in Innoviva were worth $258,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INVA. Barclays PLC raised its position in shares of Innoviva by 254.2% in the 3rd quarter. Barclays PLC now owns 100,594 shares of the biotechnology company’s stock valued at $1,942,000 after purchasing an additional 72,192 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Innoviva by 1.0% in the third quarter. Geode Capital Management LLC now owns 1,357,557 shares of the biotechnology company’s stock worth $26,219,000 after buying an additional 13,257 shares during the last quarter. World Investment Advisors LLC acquired a new stake in Innoviva in the third quarter valued at $217,000. JPMorgan Chase & Co. boosted its stake in Innoviva by 14.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 578,243 shares of the biotechnology company’s stock valued at $11,166,000 after acquiring an additional 72,039 shares during the last quarter. Finally, CWA Asset Management Group LLC boosted its stake in Innoviva by 29.1% during the 4th quarter. CWA Asset Management Group LLC now owns 38,355 shares of the biotechnology company’s stock valued at $665,000 after acquiring an additional 8,645 shares during the last quarter. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. StockNews.com lowered shares of Innoviva from a “buy” rating to a “hold” rating in a research note on Tuesday. Scotiabank started coverage on Innoviva in a report on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 price objective for the company.

Innoviva Stock Performance

Shares of INVA opened at $18.38 on Friday. The stock has a market capitalization of $1.15 billion, a PE ratio of 26.64 and a beta of 0.48. The business’s fifty day moving average price is $17.75 and its 200 day moving average price is $18.43. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.79 and a quick ratio of 1.64. Innoviva, Inc. has a 12-month low of $14.90 and a 12-month high of $21.28.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings results on Wednesday, February 26th. The biotechnology company reported $0.57 earnings per share (EPS) for the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. The company had revenue of $91.81 million for the quarter. Equities research analysts forecast that Innoviva, Inc. will post 0.33 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Alexander J. Denner sold 1,196,746 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $17.52, for a total transaction of $20,966,989.92. Following the sale, the insider now directly owns 5,658,705 shares in the company, valued at approximately $99,140,511.60. This represents a 17.46 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Innoviva Profile

Innoviva, Inc engages in the development and commercialization of pharmaceutical products in the United States and internationally. The company’s products include RELVAR/BREO ELLIPTA, a once-daily combination medicine consisting of a LABA, vilanterol (VI), an inhaled corticosteroid (ICS), and fluticasone furoate; ANORO ELLIPTA, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA) and umeclidinium bromide (UMEC) with a LABA, VI; GIAPREZA (angiotensin II), a vasoconstrictor to increase blood pressure in adults with septic or other distributive shock; XERAVA (eravacycline) for the treatment of complicated intra-abdominal infections in adults; and XACDURO, a beta lactamase inhibitor for the treatment of hospital-acquired bacterial pneumonia and ventilator-associated bacterial pneumonia.