QSV Equity Investors LLC Reduces Holdings in Innoviva, Inc. $INVA

Key Points

• QSV Equity Investors LLC has reduced its stake in Innoviva, Inc. by 24.6%, selling 33,346 shares, while still holding 102,093 shares in total.
• Analysts are optimistic about Innoviva's prospects, with a consensus target price of $42.75 and multiple analysts giving the stock "buy" or "strong buy" ratings.
• Innoviva reported strong quarterly earnings of $0.77 per share, surpassing analysts' expectations and achieving revenue of $100.28 million for the quarter.

QSV Equity Investors LLC decreased its holdings in Innoviva, Inc. (NASDAQ:INVA - Free Report) by 24.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 102,093 shares of the biotechnology company's stock after selling 33,346 shares during the quarter. Innoviva accounts for about 1.9% of QSV Equity Investors LLC's holdings, making the stock its 12th biggest holding. QSV Equity Investors LLC owned about 0.16% of Innoviva worth $1,851,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of Innoviva in the first quarter valued at approximately $737,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Innoviva by 3.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,490 shares of the biotechnology company's stock worth $546,000 after acquiring an additional 1,162 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Innoviva by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 305,476 shares of the biotechnology company's stock worth $5,538,000 after buying an additional 7,700 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Innoviva by 10.3% during the 1st quarter. Farther Finance Advisors LLC now owns 8,516 shares of the biotechnology company's stock worth $153,000 after buying an additional 795 shares during the last quarter. Finally, US Bancorp DE lifted its position in shares of Innoviva by 356.0% during the 1st quarter. US Bancorp DE now owns 12,753 shares of the biotechnology company's stock worth $231,000 after buying an additional 9,956 shares during the last quarter. Hedge funds and other institutional investors own 99.12% of the company's stock.

Innoviva Trading Up 1.0%

Shares of INVA stock traded up $0.19 during trading hours on Friday, hitting $20.16. 521,177 shares of the company were exchanged, compared to its average volume of 825,749. Innoviva, Inc. has a 1 year low of $16.67 and a 1 year high of $22.00. The firm has a fifty day moving average of $19.73 and a 200 day moving average of $18.85. The company has a quick ratio of 2.44, a current ratio of 2.64 and a debt-to-equity ratio of 0.36. The firm has a market cap of $1.27 billion, a PE ratio of 65.03 and a beta of 0.38.

Innoviva (NASDAQ:INVA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.57 by $0.20. Innoviva had a net margin of 10.44% and a return on equity of 18.67%. The firm had revenue of $100.28 million for the quarter, compared to analyst estimates of $87.10 million. Analysts expect that Innoviva, Inc. will post 0.33 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. HC Wainwright boosted their price objective on shares of Innoviva from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, August 11th. Cantor Fitzgerald assumed coverage on shares of Innoviva in a report on Friday, July 11th. They issued an "overweight" rating and a $26.00 target price on the stock. Oppenheimer assumed coverage on shares of Innoviva in a report on Monday, August 11th. They issued an "outperform" rating and a $45.00 target price on the stock. Finally, Wall Street Zen raised shares of Innoviva from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 16th. Four equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Innoviva currently has a consensus rating of "Buy" and an average price target of $42.75.

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.