QSV Equity Investors LLC Sells 33,346 Shares of Innoviva, Inc. $INVA

QSV Equity Investors LLC reduced its position in shares of Innoviva, Inc. (NASDAQ:INVA) by 24.6% in the first quarter, HoldingsChannel reports. The firm owned 102,093 shares of the biotechnology company’s stock after selling 33,346 shares during the quarter. Innoviva makes up 1.9% of QSV Equity Investors LLC’s investment portfolio, making the stock its 12th largest position. QSV Equity Investors LLC’s holdings in Innoviva were worth $1,851,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in INVA. Dimensional Fund Advisors LP grew its stake in shares of Innoviva by 4.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,919,518 shares of the biotechnology company’s stock valued at $85,354,000 after acquiring an additional 226,592 shares during the period. Systematic Financial Management LP raised its holdings in shares of Innoviva by 2.5% during the 4th quarter. Systematic Financial Management LP now owns 2,029,069 shares of the biotechnology company’s stock worth $35,204,000 after acquiring an additional 49,996 shares in the last quarter. American Century Companies Inc. raised its holdings in Innoviva by 17.6% during the 1st quarter. American Century Companies Inc. now owns 1,675,697 shares of the biotechnology company’s stock valued at $30,380,000 after buying an additional 251,382 shares during the period. D. E. Shaw & Co. Inc. increased its stake in Innoviva by 28.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 842,647 shares of the biotechnology company’s stock worth $14,620,000 after purchasing an additional 184,595 shares during the period. Finally, Northern Trust Corp increased its stake in Innoviva by 4.0% in the fourth quarter. Northern Trust Corp now owns 679,044 shares of the biotechnology company’s stock worth $11,781,000 after purchasing an additional 26,429 shares during the period. 99.12% of the stock is currently owned by institutional investors.

Innoviva Price Performance

Shares of NASDAQ:INVA opened at $20.92 on Monday. The business’s fifty day moving average price is $19.82 and its two-hundred day moving average price is $18.80. The stock has a market cap of $1.32 billion, a PE ratio of 67.49 and a beta of 0.38. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.44 and a current ratio of 2.64. Innoviva, Inc. has a one year low of $16.67 and a one year high of $22.00.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.20. The business had revenue of $100.28 million for the quarter, compared to analysts’ expectations of $87.10 million. Innoviva had a return on equity of 18.67% and a net margin of 10.44%. On average, analysts forecast that Innoviva, Inc. will post 0.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Oppenheimer assumed coverage on Innoviva in a research report on Monday, August 11th. They set an “outperform” rating and a $45.00 price target on the stock. HC Wainwright lifted their price target on Innoviva from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Wall Street Zen raised Innoviva from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Finally, Cantor Fitzgerald began coverage on Innoviva in a report on Friday, July 11th. They issued an “overweight” rating and a $26.00 price objective on the stock. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $42.75.

About Innoviva

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.