Innoviva (INVA) Stake Lowered by Metropolitan Life Insurance Co. NY

Metropolitan Life Insurance Co. NY decreased its stake in shares of Innoviva (NASDAQ:INVA) by 51.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,656 shares of the biotechnology company’s stock after selling 26,228 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Innoviva were worth $350,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Meadow Creek Investment Management LLC grew its position in shares of Innoviva by 30.0% during the 4th quarter. Meadow Creek Investment Management LLC now owns 14,084 shares of the biotechnology company’s stock worth $200,000 after buying an additional 3,248 shares during the period. Tealwood Asset Management Inc. grew its position in Innoviva by 2.2% in the 4th quarter. Tealwood Asset Management Inc. now owns 194,633 shares of the biotechnology company’s stock valued at $2,762,000 after purchasing an additional 4,253 shares during the period. Acadian Asset Management LLC grew its position in Innoviva by 0.9% in the 4th quarter. Acadian Asset Management LLC now owns 502,352 shares of the biotechnology company’s stock valued at $7,129,000 after purchasing an additional 4,289 shares during the period. Aperio Group LLC grew its position in Innoviva by 24.0% in the 4th quarter. Aperio Group LLC now owns 24,852 shares of the biotechnology company’s stock valued at $353,000 after purchasing an additional 4,808 shares during the period. Finally, Globeflex Capital L P grew its position in Innoviva by 9.7% in the 4th quarter. Globeflex Capital L P now owns 67,000 shares of the biotechnology company’s stock valued at $951,000 after purchasing an additional 5,900 shares during the period. 75.04% of the stock is owned by institutional investors.

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NASDAQ INVA opened at $15.90 on Thursday. Innoviva has a 12-month low of $11.02 and a 12-month high of $17.99. The company has a debt-to-equity ratio of -2.37, a current ratio of 5.77 and a quick ratio of 5.77. The firm has a market capitalization of $1,634.28, a P/E ratio of 13.59 and a beta of 2.17.

Innoviva (NASDAQ:INVA) last posted its quarterly earnings data on Thursday, February 8th. The biotechnology company reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.01. The firm had revenue of $69.52 million for the quarter, compared to the consensus estimate of $67.41 million. Innoviva had a net margin of 61.76% and a negative return on equity of 48.93%. The business’s revenue for the quarter was up 59.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.22 EPS. sell-side analysts expect that Innoviva will post 2.26 earnings per share for the current year.

Several analysts recently issued reports on the stock. BidaskClub downgraded shares of Innoviva from a “strong-buy” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research raised shares of Innoviva from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Tuesday. ValuEngine raised shares of Innoviva from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. TheStreet raised shares of Innoviva from a “c+” rating to a “b” rating in a research report on Friday, February 9th. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $17.00 price target on shares of Innoviva in a research report on Friday, February 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $14.17.

In other Innoviva news, insider Eric Desparbes sold 5,378 shares of Innoviva stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $16.52, for a total transaction of $88,844.56. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP George B. Abercrombie sold 8,000 shares of Innoviva stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $16.51, for a total transaction of $132,080.00. The disclosure for this sale can be found here. 1.44% of the stock is owned by insiders.

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Innoviva Company Profile

Innoviva, Inc engages in the development and commercialization of bio-pharmaceuticals. Its portfolio of respiratory products include RELVAR/BREO ELLIPTA, (fluticasone furoate/ vilanterol, FF/VI); ANORO ELLIPTA (umeclidinium bromide/ vilanterol, UMEC/VI); and TRELEGY ELLIPTA (the combination FF/UMEC/VI).

Institutional Ownership by Quarter for Innoviva (NASDAQ:INVA)

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