Principal Financial Group Inc. Buys 1,121 Shares of Innoviva, Inc. (NASDAQ:INVA)

Principal Financial Group Inc. lifted its stake in shares of Innoviva, Inc. (NASDAQ:INVA) by 0.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 323,991 shares of the biotechnology company’s stock after acquiring an additional 1,121 shares during the quarter. Principal Financial Group Inc.’s holdings in Innoviva were worth $4,938,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in INVA. GAMMA Investing LLC grew its stake in shares of Innoviva by 124.0% during the 1st quarter. GAMMA Investing LLC now owns 2,262 shares of the biotechnology company’s stock valued at $34,000 after acquiring an additional 1,252 shares during the period. China Universal Asset Management Co. Ltd. boosted its stake in Innoviva by 342.7% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 7,410 shares of the biotechnology company’s stock worth $119,000 after purchasing an additional 5,736 shares during the period. Quadrant Capital Group LLC boosted its stake in Innoviva by 13.2% in the 4th quarter. Quadrant Capital Group LLC now owns 9,042 shares of the biotechnology company’s stock worth $145,000 after purchasing an additional 1,056 shares during the period. Profund Advisors LLC boosted its stake in Innoviva by 7.9% in the 3rd quarter. Profund Advisors LLC now owns 11,879 shares of the biotechnology company’s stock worth $154,000 after purchasing an additional 871 shares during the period. Finally, Cornerstone Investment Partners LLC bought a new position in Innoviva in the 4th quarter worth approximately $177,000. 99.12% of the stock is currently owned by institutional investors.

Innoviva Stock Up 0.3 %

INVA stock traded up $0.05 during trading on Friday, reaching $16.38. 70,594 shares of the company traded hands, compared to its average volume of 616,416. Innoviva, Inc. has a 12 month low of $12.22 and a 12 month high of $16.86. The business has a 50 day simple moving average of $15.88 and a 200 day simple moving average of $15.68. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 7.36 and a beta of 0.57. The company has a debt-to-equity ratio of 0.63, a quick ratio of 9.17 and a current ratio of 10.42.

Innoviva (NASDAQ:INVA) last announced its quarterly earnings results on Wednesday, May 8th. The biotechnology company reported $0.46 earnings per share for the quarter. Innoviva had a return on equity of 28.94% and a net margin of 58.21%. The company had revenue of $77.50 million during the quarter. On average, equities research analysts anticipate that Innoviva, Inc. will post 1.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

INVA has been the topic of several recent research reports. Cantor Fitzgerald initiated coverage on Innoviva in a report on Tuesday, June 18th. They set an “overweight” rating on the stock. StockNews.com raised Innoviva from a “hold” rating to a “buy” rating in a research report on Friday, March 29th.

About Innoviva

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.