Innoviva, Inc. (INVA) Shares Sold by Principal Financial Group Inc.
Principal Financial Group Inc. decreased its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 620,505 shares of the biotechnology company’s stock after selling 22,739 shares during the period. Principal Financial Group Inc. owned 0.57% of Innoviva worth $8,761,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Federated Investors Inc. PA increased its position in Innoviva by 9.2% during the second quarter. Federated Investors Inc. PA now owns 121,499 shares of the biotechnology company’s stock worth $1,555,000 after purchasing an additional 10,269 shares during the last quarter. State of Wisconsin Investment Board acquired a new stake in shares of Innoviva in the second quarter worth $730,000. Teachers Advisors LLC increased its position in shares of Innoviva by 3.4% in the first quarter. Teachers Advisors LLC now owns 135,848 shares of the biotechnology company’s stock worth $1,879,000 after acquiring an additional 4,452 shares in the last quarter. Crossmark Global Holdings Inc. acquired a new stake in shares of Innoviva in the third quarter worth $533,000. Finally, Denali Advisors LLC acquired a new stake in shares of Innoviva in the third quarter worth $570,000. 74.44% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on INVA. Deutsche Bank began coverage on shares of Innoviva in a research report on Monday, November 20th. They issued a “hold” rating and a $13.00 price objective for the company. Zacks Investment Research lowered shares of Innoviva from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Robert W. Baird reissued a “hold” rating and issued a $13.00 price objective on shares of Innoviva in a research report on Tuesday, October 24th. Cowen set a $16.00 price objective on shares of Innoviva and gave the stock a “buy” rating in a research report on Monday, October 23rd. Finally, Morgan Stanley reissued an “underweight” rating and issued a $8.00 price objective (up previously from $7.00) on shares of Innoviva in a research report on Friday, October 6th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $13.50.
Innoviva, Inc. (NASDAQ INVA) opened at $13.22 on Wednesday. The firm has a market cap of $1,416.08, a price-to-earnings ratio of 15.07 and a beta of 2.52. The company has a quick ratio of 6.71, a current ratio of 6.71 and a debt-to-equity ratio of -2.59. Innoviva, Inc. has a 52 week low of $10.21 and a 52 week high of $14.87.
Innoviva (NASDAQ:INVA) last announced its earnings results on Wednesday, October 25th. The biotechnology company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.13). The firm had revenue of $48.64 million during the quarter, compared to analysts’ expectations of $57.18 million. Innoviva had a net margin of 52.91% and a negative return on equity of 33.55%. Innoviva’s revenue for the quarter was up 46.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 earnings per share. analysts anticipate that Innoviva, Inc. will post 1.07 EPS for the current fiscal year.
In other news, VP George B. Abercrombie sold 5,215 shares of the company’s stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $13.26, for a total value of $69,150.90. Following the completion of the transaction, the vice president now directly owns 263,866 shares in the company, valued at $3,498,863.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael W. Aguiar sold 12,022 shares of the company’s stock in a transaction on Monday, December 4th. The shares were sold at an average price of $13.13, for a total transaction of $157,848.86. Following the completion of the transaction, the insider now owns 980,907 shares of the company’s stock, valued at $12,879,308.91. The disclosure for this sale can be found here. Insiders sold 32,522 shares of company stock valued at $429,985 over the last 90 days. Insiders own 1.60% of the company’s stock.
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Innoviva Company Profile
Innoviva, Inc, formerly Theravance, Inc, is engaged in the development, commercialization and financial management of bio-pharmaceuticals. It focuses on the respiratory assets partnered with Glaxo Group Limited (GSK), including RELVAR/BREO ELLIPTA (fluticasone furoate (FF)/vilanterol (VI)) and ANORO ELLIPTA (umeclidinium bromide/vilanterol (UMEC/VI)).
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