Vanguard Group Inc. Sells 71,317 Shares of Innoviva, Inc. (NASDAQ:INVA)

Vanguard Group Inc. trimmed its holdings in shares of Innoviva, Inc. (NASDAQ:INVA - Free Report) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,717,437 shares of the biotechnology company's stock after selling 71,317 shares during the quarter. Vanguard Group Inc. owned about 10.48% of Innoviva worth $87,260,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. increased its position in Innoviva by 0.9% during the third quarter. BlackRock Inc. now owns 10,185,548 shares of the biotechnology company's stock worth $118,253,000 after acquiring an additional 92,620 shares during the period. Dimensional Fund Advisors LP increased its holdings in Innoviva by 17.9% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,782,204 shares of the biotechnology company's stock valued at $42,549,000 after buying an additional 575,010 shares during the period. State Street Corp increased its holdings in Innoviva by 0.6% in the 3rd quarter. State Street Corp now owns 2,470,894 shares of the biotechnology company's stock valued at $28,687,000 after buying an additional 13,786 shares during the period. Westfield Capital Management Co. LP increased its holdings in Innoviva by 6.7% in the 3rd quarter. Westfield Capital Management Co. LP now owns 2,045,010 shares of the biotechnology company's stock valued at $26,565,000 after buying an additional 127,759 shares during the period. Finally, Systematic Financial Management LP increased its holdings in Innoviva by 6.2% in the 4th quarter. Systematic Financial Management LP now owns 1,953,525 shares of the biotechnology company's stock valued at $25,884,000 after buying an additional 114,784 shares during the period. 99.12% of the stock is owned by institutional investors.

Innoviva Stock Performance

Shares of INVA remained flat at $14.66 during mid-day trading on Friday. 873,356 shares of the stock were exchanged, compared to its average volume of 742,926. The business's fifty day moving average price is $15.35 and its 200 day moving average price is $14.76. Innoviva, Inc. has a one year low of $11.24 and a one year high of $16.86. The company has a quick ratio of 7.96, a current ratio of 9.03 and a debt-to-equity ratio of 0.66. The company has a market cap of $926.95 million, a P/E ratio of 6.72 and a beta of 0.57.

Innoviva (NASDAQ:INVA - Get Free Report) last posted its earnings results on Thursday, February 29th. The biotechnology company reported $0.76 EPS for the quarter. Innoviva had a net margin of 57.89% and a return on equity of 30.37%. The business had revenue of $85.84 million for the quarter.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on INVA. TheStreet upgraded shares of Innoviva from a "c" rating to a "b-" rating in a research note on Thursday, February 29th. StockNews.com upgraded shares of Innoviva from a "hold" rating to a "buy" rating in a research note on Friday, March 29th.

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.