Innoviva, Inc. (NASDAQ:INVA) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its holdings in Innoviva, Inc. (NASDAQ:INVA) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,919,518 shares of the biotechnology company’s stock after acquiring an additional 226,592 shares during the period. Dimensional Fund Advisors LP owned 7.86% of Innoviva worth $85,354,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. First Trust Advisors LP lifted its stake in shares of Innoviva by 1.3% in the 4th quarter. First Trust Advisors LP now owns 237,595 shares of the biotechnology company’s stock valued at $4,122,000 after purchasing an additional 2,978 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Innoviva by 18.7% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 69,794 shares of the biotechnology company’s stock valued at $1,211,000 after buying an additional 10,993 shares during the last quarter. Marshall Wace LLP lifted its position in Innoviva by 130.9% in the fourth quarter. Marshall Wace LLP now owns 314,968 shares of the biotechnology company’s stock valued at $5,465,000 after buying an additional 178,583 shares during the last quarter. Barclays PLC boosted its stake in Innoviva by 9.8% during the fourth quarter. Barclays PLC now owns 110,479 shares of the biotechnology company’s stock worth $1,917,000 after buying an additional 9,885 shares during the period. Finally, Sterling Capital Management LLC increased its position in shares of Innoviva by 6.8% during the fourth quarter. Sterling Capital Management LLC now owns 22,924 shares of the biotechnology company’s stock valued at $398,000 after acquiring an additional 1,452 shares during the last quarter. 99.12% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on INVA. StockNews.com downgraded shares of Innoviva from a “buy” rating to a “hold” rating in a report on Tuesday, April 22nd. Scotiabank initiated coverage on Innoviva in a research note on Friday, March 7th. They set a “sector outperform” rating and a $55.00 target price on the stock.

Insider Activity

In related news, major shareholder Alexander J. Denner sold 1,196,746 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were 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 owns 5,658,705 shares in the company, valued at approximately $99,140,511.60. The trade was a 17.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.25% of the company’s stock.

Innoviva Price Performance

Shares of INVA opened at $18.52 on Wednesday. The company has a quick ratio of 1.64, a current ratio of 1.79 and a debt-to-equity ratio of 0.38. Innoviva, Inc. has a fifty-two week low of $14.95 and a fifty-two week high of $21.28. The company has a market cap of $1.16 billion, a P/E ratio of 26.84 and a beta of 0.48. The firm’s 50 day moving average price is $17.77 and its 200 day moving average price is $18.39.

Innoviva (NASDAQ:INVA) last announced its quarterly earnings data on Wednesday, February 26th. The biotechnology company reported $0.57 earnings per share (EPS) for the quarter. Innoviva had a return on equity of 20.84% and a net margin of 18.31%. The business had revenue of $91.81 million for the quarter. On average, research analysts forecast that Innoviva, Inc. will post 0.33 earnings per share for the current fiscal year.

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.