The most recent Form 13F filing that Financial Counselors Inc. made with the Securities and Exchange Commission revealed that the company increased the proportion of shares of Innoviva, Inc. (NASDAQ: INVA) that it owned. This transaction took place sometime during the third quarter of the fiscal year. The corporation invested approximately 126 thousand dollars in purchasing 10,880 shares in the biotechnology company.
Recent changes have been made to the holdings of INVA that several other hedge funds have also made. During the third quarter, Handelsbanken Fonder AB achieved a 4.1% increase in the ownership percentage of Innoviva stock. The completion of the acquisitions carried out during the preceding quarter has resulted in Handelsbanken Fonder AB currently holding 20,476 shares in the biotechnology company. The value of these shares is $238,000. (800 additional shares). Money Concepts Capital Corp. increased its ownership of Innoviva shares by 14.7% during the third fiscal quarter. As a result of the purchase of 833 additional shares during the most recent quarter, Money Concepts Capital Corp. now directly owns 6,491 shares in the biotechnology company, which have an aggregate value of $75,000.
In the first quarter of this year, Advisor Group Holdings Inc. increased the amount of Innoviva stock owned by 12.4%, bringing its total ownership percentage to 100%. With the purchase of 899 additional shares during the most recent fiscal quarter, Advisor Group Holdings Inc. now has 8,138 shares of the biotechnology company’s stock, which are currently valued at $153,000. These shares were acquired as part of the most recent fiscal quarter. During the second quarter, Texas Permanent School Fund increased the amount of Innoviva stock owned by 2.3%, bringing the total amount of stock it owned to a total of 1.1%. The Texas Permanent School Fund increased its holdings in the biotechnology company’s stock during the most recent quarter by purchasing an additional 999 shares. This brought the fund’s total holdings in the company’s stock to 45,339 shares, which have a value of $669,000. And finally, during the second quarter, Intersect Capital LLC increased the number of shares of Innoviva that it already owned in its portfolio by 3.6%. After making additional purchases totaling 1,064 shares during the most recent fiscal quarter, Intersect Capital LLC now holds a total of 30,432 of the biotechnology company’s shares in its portfolio. This gives the company a market value of $449,000 based on the price at which the stock traded before it closed today.
When trading started on Tuesday, the price of one share of INVA stock was $13.37. The company’s current market value is $932.96 million, the price-to-earnings ratio of the company is 4.19, and the company’s beta value is 0.55. The stock price has reached $13.21, which corresponds to its 50-day simple moving average, and $13.43, which corresponds to its 200-day simple moving average. A debt-to-equity ratio comes in at 0.69; a quick ratio comes in at 2.34; a current ratio comes in at 2.77; and a quick ratio comes in at 2.34. The share price of Innoviva, Inc., has moved in a range that has taken it from a low of $11.56 to a high of $20.71 over the past 52 weeks.
The most recent quarterly earnings report for Innoviva (NASDAQ: INVA) was made available to the general public on November 9th, when the report was released. The biotechnology company’s earnings of $0.60 per share for the quarter came in significantly lower than the industry analysts’ consensus estimate of $2.75 per share, which was $2.15 lower. The return on equity for Innoviva was 23.89 percent, and the company’s net margin was 78.39 percent. These two numbers represent a percentage of the total. Compared to the $361.45 million market analysts anticipated the company would make in revenue during the quarter, the actual amount was $67.26 million. The difference between the two figures is staggering. In 2018, Innoviva, Inc. was anticipated to generate $3.47 per share, as stated by the projections of knowledgeable research professionals.
Numerous studies and analyst reports have been written up and published on INVA.
Because of Innoviva’s stronger performance, TheStreet upgraded the company’s rating from “c” to “b-” on Thursday, November 10th, reflecting the change in the letter grade. The topic of Innoviva was discussed for the first time in an article published on StockNews.com on October 12th. They recommended purchasing shares of the company as a whole. Morgan Stanley upgraded its rating for Innoviva from “underweight” to “equal weight” and raised its price target for the company’s shares from $13.00 to $14.00 in a research report published on Thursday, October 13th.
Innoviva, Inc. is in the business of developing and marketing pharmaceuticals in the United States of America and other countries around the world. The company’s offerings include the once-daily combination medication RELVAR/BREO ELLIPTA, which combines a long-acting muscarinic antagonist (LAMA), umeclidinium bromide (UMEC), a LABA, and VI; the once-daily medication ANORO ELLIPTA, which combines a long-acting muscarinic antagonist (LAMA), a LABA, and VI; and the inhaled cortical.
Take a look at the other hedge funds’ actions to determine how they have invested their money in INVA. If you go to HoldingsChannel.com, you can look at the most recent 13F filings and insider transactions for Innoviva, Inc. (NASDAQ: INVA).