Vanguard Group Inc. Sells 14,018 Shares of Innoviva, Inc. $INVA

Vanguard Group Inc. trimmed its holdings in shares of Innoviva, Inc. (NASDAQ:INVA) by 0.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,298,613 shares of the biotechnology company’s stock after selling 14,018 shares during the quarter. Vanguard Group Inc. owned about 10.05% of Innoviva worth $114,194,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of INVA. Millennium Management LLC increased its position in Innoviva by 426.4% during the fourth quarter. Millennium Management LLC now owns 400,613 shares of the biotechnology company’s stock worth $6,951,000 after acquiring an additional 324,515 shares during the period. Hsbc Holdings PLC acquired a new stake in Innoviva during the fourth quarter worth about $5,437,000. Victory Capital Management Inc. grew its stake in Innoviva by 132.4% during the first quarter. Victory Capital Management Inc. now owns 412,281 shares of the biotechnology company’s stock worth $7,475,000 after buying an additional 234,898 shares in the last quarter. Jefferies Financial Group Inc. grew its stake in Innoviva by 355.8% during the fourth quarter. Jefferies Financial Group Inc. now owns 296,238 shares of the biotechnology company’s stock worth $5,140,000 after buying an additional 231,238 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Innoviva by 4.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,919,518 shares of the biotechnology company’s stock worth $85,354,000 after buying an additional 226,592 shares in the last quarter. 99.12% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on INVA shares. Oppenheimer started coverage on shares of Innoviva in a research note on Monday, August 11th. They set an “outperform” rating and a $45.00 price objective on the stock. HC Wainwright increased their price objective on shares of Innoviva from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Wall Street Zen upgraded shares of Innoviva from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 16th. Finally, Cantor Fitzgerald initiated coverage on shares of Innoviva in a research note on Friday, July 11th. They set an “overweight” rating and a $26.00 price objective on the stock. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $42.75.

Innoviva Trading Up 0.1%

INVA opened at $19.97 on Friday. The company’s 50 day moving average is $19.73 and its 200-day moving average is $18.85. Innoviva, Inc. has a 1-year low of $16.67 and a 1-year high of $22.00. The company has a current ratio of 2.64, a quick ratio of 2.44 and a debt-to-equity ratio of 0.36. The company has a market cap of $1.26 billion, a P/E ratio of 64.42 and a beta of 0.38.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.20. The company had revenue of $100.28 million for the quarter, compared to the consensus estimate of $87.10 million. Innoviva had a net margin of 10.44% and a return on equity of 18.67%. Equities research analysts predict that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

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.