Boston Partners Boosts Stake in Innoviva, Inc. (NASDAQ:INVA)

Boston Partners boosted its stake in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 43.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 490,404 shares of the biotechnology company's stock after purchasing an additional 149,060 shares during the period. Boston Partners owned approximately 0.78% of Innoviva worth $8,513,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. KBC Group NV grew its holdings in shares of Innoviva by 73.9% during the fourth quarter. KBC Group NV now owns 4,100 shares of the biotechnology company's stock valued at $71,000 after buying an additional 1,743 shares during the last quarter. FMR LLC grew 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 purchasing an additional 771 shares during the last quarter. Walleye Capital LLC acquired a new position in shares of Innoviva in the third quarter valued at about $214,000. World Investment Advisors LLC purchased a new position in shares of Innoviva in the third quarter worth about $217,000. Finally, Caprock Group LLC acquired a new stake in shares of Innoviva during the third quarter worth about $229,000. Institutional investors and hedge funds own 99.12% of the company's stock.

Innoviva Stock Performance

NASDAQ:INVA traded up $0.05 during trading hours on Tuesday, reaching $17.38. The company had a trading volume of 690,996 shares, compared to its average volume of 587,375. 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 1-year low of $14.33 and a 1-year high of $21.28. The business's 50 day moving average price is $18.03 and its 200-day moving average price is $18.68. The firm has a market cap of $1.09 billion, a PE ratio of 25.19 and a beta of 0.56.

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

Insider Activity at Innoviva

In other Innoviva news, major shareholder Alexander J. Denner sold 151,175 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $17.63, for a total transaction of $2,665,215.25. Following the completion of the sale, the insider now directly owns 7,125,825 shares in the company, valued at approximately $125,628,294.75. The trade was a 2.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on INVA shares. Scotiabank assumed coverage on shares of Innoviva in a research report on Friday, March 7th. They set a "sector outperform" rating and a $55.00 price target for the company. StockNews.com raised shares of Innoviva from a "hold" rating to a "buy" rating in a report on Monday.

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.