Innoviva, Inc. (NASDAQ:INVA) Shares Bought by Northern Trust Corp

Northern Trust Corp increased its stake in Innoviva, Inc. (NASDAQ:INVA) by 4.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 679,044 shares of the biotechnology company’s stock after purchasing an additional 26,429 shares during the period. Northern Trust Corp owned 1.08% of Innoviva worth $11,781,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of INVA. American Century Companies Inc. raised its position in Innoviva by 35.2% during the 4th quarter. American Century Companies Inc. now owns 1,424,315 shares of the biotechnology company’s stock worth $24,712,000 after buying an additional 370,795 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Innoviva during the 4th quarter valued at approximately $5,437,000. Dimensional Fund Advisors LP increased its holdings in shares of Innoviva by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,919,518 shares of the biotechnology company’s stock valued at $85,354,000 after purchasing an additional 226,592 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Innoviva by 130.9% during the 4th quarter. Marshall Wace LLP now owns 314,968 shares of the biotechnology company’s stock valued at $5,465,000 after purchasing an additional 178,583 shares in the last quarter. Finally, Boston Partners increased its holdings in shares of Innoviva by 43.7% during the 4th quarter. Boston Partners now owns 490,404 shares of the biotechnology company’s stock valued at $8,513,000 after purchasing an additional 149,060 shares in the last quarter. 99.12% of the stock is currently owned by institutional investors and hedge funds.

Innoviva Trading Up 1.4%

NASDAQ INVA opened at $18.58 on Friday. The firm’s 50-day moving average is $17.97 and its two-hundred day moving average is $18.28. Innoviva, Inc. has a 12 month low of $15.20 and a 12 month high of $21.28. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.79 and a quick ratio of 1.64. The stock has a market capitalization of $1.16 billion, a P/E ratio of 26.93 and a beta of 0.35.

Innoviva (NASDAQ:INVA) last released its earnings results on Wednesday, May 7th. The biotechnology company reported $0.25 earnings per share for the quarter. The firm had revenue of $88.63 million for the quarter. Innoviva had a net margin of 18.31% and a return on equity of 20.84%. On average, sell-side analysts anticipate that Innoviva, Inc. will post 0.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on INVA. StockNews.com raised shares of Innoviva from a “hold” rating to a “buy” rating in a report on Wednesday, April 30th. Scotiabank assumed coverage on shares of Innoviva in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 price target on the stock.

Insiders Place Their Bets

In other news, major shareholder Alexander J. Denner sold 1,196,746 shares of the firm’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $17.52, for a total value of $20,966,989.92. Following the completion of the transaction, the insider now owns 5,658,705 shares in the company, valued at $99,140,511.60. This trade represents a 17.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.25% of the stock is currently owned by company insiders.

About Innoviva

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.