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Innoviva is a company with a portfolio of royalties that include respiratory assets. Co.'s Long-Acting Beta2 Agonist (LABA) collaboration has developed the combination products: RELVAR® /BREO® ELLIPTA®, a once-daily combination medicine consisting of a LABA, vilanterol (VI), and an inhaled corticosteroid (ICS), fluticasone furoate (FF); ANORO® ELLIPTA®, a once-daily medicine combining a long-acting muscarinic antagonist (LAMA), umeclidinium bromide (UMEC), with a LABA, VI; and RELEGY® ELLIPTA® (the combination FF/UMEC/VI), a once-daily combination medicine consisting of an ICS, LAMA and LABA. According to our INVA split history records, Innoviva has had 2 splits.
INVA split history picture
Innoviva (INVA) has 2 splits in our INVA split history database. The first split for INVA took place on April 26, 2001. This was a 1 for 8 reverse split, meaning for each 8 shares of INVA owned pre-split, the shareholder now owned 1 share. For example, a 1000 share position pre-split, became a 125 share position following the split. INVA's second split took place on November 08, 2010. This was a 20 for 1 split, meaning for each share of INVA owned pre-split, the shareholder now owned 20 shares. For example, a 125 share position pre-split, became a 2500 share position following the split.

When a company such as Innoviva splits its shares, the market capitalization before and after the split takes place remains stable, meaning the shareholder now owns more shares but each are valued at a lower price per share. Often, however, a lower priced stock on a per-share basis can attract a wider range of buyers. If that increased demand causes the share price to appreciate, then the total market capitalization rises post-split. This does not always happen, however, often depending on the underlying fundamentals of the business. When a company such as Innoviva conducts a reverse share split, it is usually because shares have fallen to a lower per-share pricepoint than the company would like. This can be important because, for example, certain types of mutual funds might have a limit governing which stocks they may buy, based upon per-share price. The $5 and $10 pricepoints tend to be important in this regard. Stock exchanges also tend to look at per-share price, setting a lower limit for listing eligibility. So when a company does a reverse split, it is looking mathematically at the market capitalization before and after the reverse split takes place, and concluding that if the market capitilization remains stable, the reduced share count should result in a higher price per share.

Looking at the INVA split history from start to finish, an original position size of 1000 shares would have turned into 2500 today. Below, we examine the compound annual growth rate — CAGR for short — of an investment into Innoviva shares, starting with a $10,000 purchase of INVA, presented on a split-history-adjusted basis factoring in the complete INVA split history. INVA split adjusted history picture

Growth of $10,000.00
With Dividends Reinvested

Start date: 04/14/2011
End date: 04/13/2021
Start price/share: $26.32
End price/share: $11.63
Starting shares: 379.94
Ending shares: 408.73
Dividends reinvested/share: $1.25
Total return: -52.46%
Average Annual Total Return: -7.16%
Starting investment: $10,000.00
Ending investment: $4,755.26
Years: 10.01
 
Growth of $10,000.00
Without Dividends Reinvested

Start date: 04/14/2011
End date: 04/13/2021
Start price/share: $26.32
End price/share: $11.63
Dividends collected/share: $1.25
Total return: -51.06%
Average Annual Total Return: -6.89%
Starting investment: $10,000.00
Ending investment: $4,895.46
Years: 10.01
Date Ratio
04/26/20011 for 8
11/08/201020 for 1
INVA is categorized under the Healthcare sector; below are some other companies in the same sector that also have a history of stock splits:

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