Bank of Montreal Can Has $2.65 Million Stake in Innoviva Inc (INVA)

Bank of Montreal Can grew its stake in Innoviva Inc (NASDAQ:INVA) by 5.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 186,383 shares of the biotechnology company’s stock after acquiring an additional 10,435 shares during the quarter. Bank of Montreal Can’s holdings in Innoviva were worth $2,645,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in INVA. Schwab Charles Investment Management Inc. grew its stake in shares of Innoviva by 1.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 348,340 shares of the biotechnology company’s stock valued at $4,459,000 after purchasing an additional 3,863 shares during the period. Teachers Advisors LLC grew its stake in shares of Innoviva by 17.5% in the 2nd quarter. Teachers Advisors LLC now owns 159,667 shares of the biotechnology company’s stock valued at $2,044,000 after purchasing an additional 23,819 shares during the period. TIAA CREF Investment Management LLC grew its stake in shares of Innoviva by 38.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 310,316 shares of the biotechnology company’s stock valued at $3,972,000 after purchasing an additional 86,864 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Innoviva by 36.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 557,455 shares of the biotechnology company’s stock valued at $7,135,000 after purchasing an additional 147,765 shares during the period. Finally, Profund Advisors LLC grew its stake in shares of Innoviva by 8.8% in the 2nd quarter. Profund Advisors LLC now owns 15,220 shares of the biotechnology company’s stock valued at $195,000 after purchasing an additional 1,227 shares during the period. Institutional investors own 74.17% of the company’s stock.

In other Innoviva news, CFO Eric Desparbes sold 15,285 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $13.28, for a total transaction of $202,984.80. Following the transaction, the chief financial officer now owns 337,027 shares of the company’s stock, valued at approximately $4,475,718.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael W. Aguiar sold 12,022 shares of the company’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $13.13, for a total value of $157,848.86. Following the transaction, the insider now directly owns 980,907 shares in the company, valued at approximately $12,879,308.91. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,522 shares of company stock worth $429,985. 1.60% of the stock is owned by corporate insiders.

Shares of Innoviva Inc (INVA) opened at $15.43 on Friday. The company has a market capitalization of $1,535.97, a P/E ratio of 17.74 and a beta of 2.52. Innoviva Inc has a 12-month low of $11.02 and a 12-month high of $16.11. The company has a current ratio of 6.71, a quick ratio of 6.71 and a debt-to-equity ratio of -2.59.

Innoviva (NASDAQ:INVA) last released its quarterly earnings results on Thursday, February 8th. The biotechnology company reported $0.50 EPS for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. The business had revenue of $69.52 million for the quarter, compared to analyst estimates of $67.41 million. Innoviva had a negative return on equity of 33.55% and a net margin of 52.91%. Innoviva’s revenue for the quarter was up 59.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.22 EPS. analysts anticipate that Innoviva Inc will post 1.08 earnings per share for the current year.

Several research firms have recently weighed in on INVA. Stifel Nicolaus reiterated a “hold” rating and issued a $17.00 price objective on shares of Innoviva in a research note on Friday. Zacks Investment Research upgraded Innoviva from a “sell” rating to a “hold” rating in a research note on Friday. BidaskClub upgraded Innoviva from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Robert W. Baird reiterated a “hold” rating and issued a $13.00 price objective on shares of Innoviva in a research note on Tuesday, October 24th. Finally, Cowen set a $16.00 price objective on Innoviva and gave the company a “buy” rating in a research note on Monday, October 23rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Innoviva has a consensus rating of “Hold” and a consensus price target of $13.83.

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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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Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

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