Innovex International, Inc. (NYSE:INVX) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in Innovex International, Inc. (NYSE:INVX - Free Report) by 10.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 259,746 shares of the company's stock after selling 31,811 shares during the period. Bank of New York Mellon Corp owned about 0.39% of Innovex International worth $3,629,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of INVX. Louisiana State Employees Retirement System increased its stake in shares of Innovex International by 9.0% during the fourth quarter. Louisiana State Employees Retirement System now owns 18,200 shares of the company's stock valued at $254,000 after buying an additional 1,500 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Innovex International by 8.9% during the fourth quarter. State of Alaska Department of Revenue now owns 21,402 shares of the company's stock valued at $298,000 after buying an additional 1,741 shares during the period. Empowered Funds LLC increased its stake in shares of Innovex International by 5.0% during the fourth quarter. Empowered Funds LLC now owns 53,745 shares of the company's stock valued at $751,000 after buying an additional 2,569 shares during the period. Rhumbline Advisers increased its stake in shares of Innovex International by 4.0% during the fourth quarter. Rhumbline Advisers now owns 112,143 shares of the company's stock valued at $1,567,000 after buying an additional 4,297 shares during the period. Finally, Central Pacific Bank Trust Division purchased a new position in shares of Innovex International during the fourth quarter valued at $63,000.

Innovex International Stock Performance

INVX traded down $0.41 on Friday, hitting $17.91. The company had a trading volume of 1,017,315 shares, compared to its average volume of 419,215. The company has a fifty day simple moving average of $17.09. Innovex International, Inc. has a 12-month low of $12.54 and a 12-month high of $25.19. The company has a debt-to-equity ratio of 0.01, a current ratio of 3.87 and a quick ratio of 2.17. The stock has a market cap of $1.24 billion, a PE ratio of 12.70 and a beta of 0.83.

Innovex International (NYSE:INVX - Get Free Report) last posted its earnings results on Tuesday, February 25th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.21. Innovex International had a negative return on equity of 0.73% and a net margin of 12.31%. The company had revenue of $250.69 million for the quarter.

Analysts Set New Price Targets

Several equities analysts have recently commented on INVX shares. Pickering Energy Partners upgraded Innovex International from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. Barclays raised their price target on Innovex International from $15.00 to $16.00 and gave the company an "underweight" rating in a research note on Wednesday, March 5th.

Innovex International Company Profile

Innovex International, Inc engages in the provision of solutions for both onshore and offshore applications within the oil and gas industry. The company was founded on September 15, 2016 and is headquartered in Humble, TX.