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

Boston Partners lifted its holdings in Innoviva, Inc. (NASDAQ:INVA) by 43.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 490,404 shares of the biotechnology company’s stock after buying an additional 149,060 shares during the quarter. Boston Partners’ holdings in Innoviva were worth $8,513,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in INVA. KBC Group NV lifted its holdings in Innoviva by 73.9% in the 4th 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 in the last quarter. FMR LLC lifted its holdings in shares of Innoviva by 8.2% in the third quarter. FMR LLC now owns 10,119 shares of the biotechnology company’s stock worth $195,000 after buying an additional 771 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Innoviva during the third quarter worth $214,000. World Investment Advisors LLC bought a new position in shares of Innoviva during the third quarter worth $217,000. Finally, Caprock Group LLC purchased a new position in Innoviva during the third quarter valued at $229,000. Hedge funds and other institutional investors own 99.12% of the company’s stock.

Innoviva Trading Down 0.5 %

Shares of INVA opened at $17.21 on Friday. Innoviva, Inc. has a fifty-two week low of $14.33 and a fifty-two week high of $21.28. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.64 and a current ratio of 1.79. The company’s fifty day moving average is $18.04 and its 200 day moving average is $18.72. The stock has a market capitalization of $1.08 billion, a PE ratio of 24.94 and a beta of 0.56.

Innoviva (NASDAQ:INVA) last announced its earnings results on Wednesday, February 26th. The biotechnology company reported $0.57 earnings per share (EPS) for the quarter. The firm 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%. Sell-side analysts expect that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

Insider Buying and Selling at Innoviva

In other 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 transaction, the insider now owns 7,125,825 shares of the company’s stock, valued at approximately $125,628,294.75. The trade was a 2.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.70% of the company’s stock.

Wall Street Analysts Forecast Growth

INVA has been the subject of several research reports. Scotiabank assumed coverage on shares of Innoviva in a report on Friday, March 7th. They set a “sector outperform” rating and a $55.00 price objective for the company. StockNews.com lowered Innoviva from a “buy” rating to a “hold” rating in a research note on Saturday, March 15th.

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.