Geode Capital Management LLC Purchases 35,611 Shares of Innovex International, Inc. (NYSE:INVX)

Geode Capital Management LLC raised its stake in shares of Innovex International, Inc. (NYSE:INVX - Free Report) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 816,945 shares of the company's stock after purchasing an additional 35,611 shares during the quarter. Geode Capital Management LLC owned 1.21% of Innovex International worth $11,416,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of INVX. Brandes Investment Partners LP raised its stake in shares of Innovex International by 41.3% in the fourth quarter. Brandes Investment Partners LP now owns 6,304,068 shares of the company's stock worth $88,068,000 after acquiring an additional 1,841,686 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Innovex International by 5.5% during the fourth quarter. Vanguard Group Inc. now owns 4,263,005 shares of the company's stock worth $59,554,000 after acquiring an additional 221,598 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Innovex International during the 3rd quarter worth approximately $2,383,000. JPMorgan Chase & Co. acquired a new position in Innovex International in the 3rd quarter worth $2,261,000. Finally, Wellington Management Group LLP bought a new position in shares of Innovex International during the fourth quarter worth about $1,665,000.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on INVX shares. Pickering Energy Partners raised Innovex International from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 14th. Barclays increased their price target on shares of Innovex International from $15.00 to $16.00 and gave the company an "underweight" rating in a report on Wednesday, March 5th.

Innovex International Price Performance

NYSE:INVX traded down $0.03 during trading hours on Friday, reaching $15.91. 263,511 shares of the company were exchanged, compared to its average volume of 419,176. The firm has a 50 day moving average of $16.84. Innovex International, Inc. has a 1-year low of $12.54 and a 1-year high of $20.14. 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 firm has a market capitalization of $1.10 billion, a P/E ratio of 11.28 and a beta of 0.78.

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

Innovex International 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.