Ritholtz Wealth Management Buys Shares of 92,845 Indivior PLC $INDV

Ritholtz Wealth Management purchased a new position in shares of Indivior PLC (NASDAQ:INDV) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 92,845 shares of the company’s stock, valued at approximately $2,238,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. CWM LLC bought a new position in Indivior in the third quarter valued at approximately $25,000. Raymond James Financial Inc. acquired a new stake in shares of Indivior during the second quarter worth $26,000. Amalgamated Bank acquired a new position in Indivior in the 2nd quarter worth $61,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Indivior by 16.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,820 shares of the company’s stock valued at $71,000 after purchasing an additional 666 shares in the last quarter. Finally, Blue Trust Inc. bought a new stake in shares of Indivior in the third quarter valued at about $99,000. 60.33% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Indivior news, Director David E. Wheadon purchased 1,771 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were acquired at an average cost of $35.39 per share, with a total value of $62,675.69. Following the completion of the transaction, the director owned 14,395 shares in the company, valued at $509,439.05. The trade was a 14.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Daniel A. Ninivaggi bought 775 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were acquired at an average price of $35.39 per share, for a total transaction of $27,427.25. Following the transaction, the director owned 16,923 shares in the company, valued at approximately $598,904.97. This represents a 4.80% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 4,871 shares of company stock worth $172,385 over the last three months.

Indivior Price Performance

Shares of INDV opened at $32.54 on Friday. The firm has a market capitalization of $4.07 billion, a PE ratio of 35.37 and a beta of 0.75. The company’s 50-day moving average is $34.34 and its 200-day moving average is $26.64. Indivior PLC has a fifty-two week low of $7.62 and a fifty-two week high of $38.00.

Indivior (NASDAQ:INDV) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.34. Indivior had a net margin of 9.83% and a negative return on equity of 90.79%. The firm had revenue of $314.00 million for the quarter, compared to analysts’ expectations of $257.66 million. Analysts predict that Indivior PLC will post 1.22 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on INDV. Zacks Research lowered Indivior from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 13th. HC Wainwright boosted their price objective on shares of Indivior from $35.00 to $48.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $41.00 target price (up previously from $27.00) on shares of Indivior in a research report on Friday, October 31st. Morgan Stanley reiterated an “overweight” rating and issued a $36.00 price target on shares of Indivior in a research note on Wednesday, December 3rd. Finally, Northland Securities set a $40.00 price objective on shares of Indivior in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, Indivior has an average rating of “Moderate Buy” and an average target price of $34.57.

About Indivior

Indivior plc is a specialty pharmaceutical company dedicated to developing and delivering treatments for addiction and related mental health disorders. The company’s portfolio centers on therapies designed to support individuals dealing with opioid dependence, alcohol use disorder and other behavioral health challenges. Its lead products include Suboxone® (buprenorphine and naloxone) sublingual film and Sublocade® (extended-release buprenorphine) injection, both of which are approved in multiple markets to aid in opioid use disorder management.

Indivior was established in 2014 through a demerger from the pharmaceuticals division of Reckitt Benckiser Group plc, inheriting decades of research and commercial expertise in addiction medicine.