Innoviva, Inc. (NASDAQ:INVA) Stake Reduced by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP lessened its holdings in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 25.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,994,589 shares of the biotechnology company's stock after selling 684,648 shares during the period. Westfield Capital Management Co. LP owned approximately 3.19% of Innoviva worth $38,516,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of INVA. SG Americas Securities LLC purchased a new stake in shares of Innoviva in the first quarter valued at about $138,000. ProShare Advisors LLC grew its holdings in Innoviva by 6.2% during the 1st quarter. ProShare Advisors LLC now owns 16,150 shares of the biotechnology company's stock valued at $246,000 after buying an additional 942 shares during the last quarter. Bessemer Group Inc. grew its holdings in Innoviva by 333.5% during the 1st quarter. Bessemer Group Inc. now owns 2,211 shares of the biotechnology company's stock valued at $33,000 after buying an additional 1,701 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in Innoviva by 4.7% during the first quarter. CANADA LIFE ASSURANCE Co now owns 49,560 shares of the biotechnology company's stock worth $755,000 after buying an additional 2,242 shares in the last quarter. Finally, BOKF NA acquired a new position in shares of Innoviva in the first quarter worth $251,000. Hedge funds and other institutional investors own 99.12% of the company's stock.

Innoviva Trading Up 0.2 %

Shares of INVA stock traded up $0.04 during mid-day trading on Monday, reaching $19.19. The company's stock had a trading volume of 926,006 shares, compared to its average volume of 591,316. The company has a quick ratio of 1.64, a current ratio of 1.79 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $1.20 billion, a PE ratio of 27.81 and a beta of 0.57. The company's 50 day simple moving average is $19.60 and its 200-day simple moving average is $18.12. Innoviva, Inc. has a 12-month low of $13.60 and a 12-month high of $21.28.

Innoviva (NASDAQ:INVA - Get Free Report) last posted its earnings results on Wednesday, November 6th. The biotechnology company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.27 by ($0.25). Innoviva had a net margin of 18.31% and a return on equity of 20.84%. The company had revenue of $89.51 million during the quarter. On average, research analysts predict that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on INVA. StockNews.com downgraded shares of Innoviva from a "strong-buy" rating to a "buy" rating in a report on Tuesday, August 6th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Innoviva in a research note on Tuesday, July 30th.

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.