Boston Partners Purchases 149,060 Shares of Innoviva, Inc. (NASDAQ:INVA)

Boston Partners lifted its position in shares of Innoviva, Inc. (NASDAQ:INVA) by 43.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 490,404 shares of the biotechnology company’s stock after acquiring an additional 149,060 shares during the period. Boston Partners owned approximately 0.78% of Innoviva worth $8,513,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. KBC Group NV raised its stake in shares of Innoviva by 73.9% in the fourth quarter. KBC Group NV now owns 4,100 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 1,743 shares during the last quarter. FMR LLC lifted its stake in Innoviva by 8.2% during the 3rd quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock valued at $195,000 after acquiring an additional 771 shares during the period. Walleye Capital LLC purchased a new stake in shares of Innoviva during the 3rd quarter valued at about $214,000. World Investment Advisors LLC bought a new stake in shares of Innoviva in the third quarter worth approximately $217,000. Finally, Caprock Group LLC purchased a new position in shares of Innoviva during the third quarter valued at approximately $229,000. 99.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

INVA has been the topic of several research reports. StockNews.com cut shares of Innoviva from a “buy” rating to a “hold” rating in a report on Saturday, March 15th. Scotiabank initiated coverage on Innoviva in a research note on Friday, March 7th. They issued a “sector outperform” rating and a $55.00 price target on the stock.

Insider Buying and Selling at Innoviva

In related news, major shareholder Alexander J. Denner sold 1,196,746 shares of the business’s 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 completion of the transaction, the insider now directly owns 5,658,705 shares in the company, valued at approximately $99,140,511.60. The trade was a 17.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.70% of the stock is currently owned by corporate insiders.

Innoviva Stock Performance

INVA opened at $17.21 on Friday. The company’s 50 day moving average is $18.04 and its 200 day moving average is $18.72. The company has a current ratio of 1.79, a quick ratio of 1.64 and a debt-to-equity ratio of 0.38. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 24.94 and a beta of 0.56. Innoviva, Inc. has a 12-month low of $14.33 and a 12-month high of $21.28.

Innoviva (NASDAQ:INVA) last issued its quarterly earnings data 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 firm had revenue of $91.81 million during the quarter. On average, equities research analysts predict that Innoviva, Inc. will post 0.33 EPS for the current year.

Innoviva Company 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.