Innovex International, Inc. (NYSE:INVX) Stake Boosted by Invesco Ltd.

Invesco Ltd. grew its position in shares of Innovex International, Inc. (NYSE:INVX - Free Report) by 175.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 332,468 shares of the company's stock after buying an additional 211,907 shares during the period. Invesco Ltd. owned about 0.49% of Innovex International worth $4,645,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Amalgamated Bank grew its stake in Innovex International by 6.2% during the 4th quarter. Amalgamated Bank now owns 10,853 shares of the company's stock worth $152,000 after buying an additional 630 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in Innovex International by 9.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 8,852 shares of the company's stock valued at $124,000 after purchasing an additional 758 shares during the period. Maryland State Retirement & Pension System increased its stake in shares of Innovex International by 9.0% in the fourth quarter. Maryland State Retirement & Pension System now owns 12,681 shares of the company's stock valued at $177,000 after purchasing an additional 1,047 shares during the period. Illinois Municipal Retirement Fund raised its holdings in shares of Innovex International by 5.8% during the fourth quarter. Illinois Municipal Retirement Fund now owns 20,878 shares of the company's stock valued at $292,000 after buying an additional 1,149 shares during the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of Innovex International by 3.3% during the fourth quarter. Prudential Financial Inc. now owns 38,001 shares of the company's stock worth $531,000 after buying an additional 1,200 shares during the period.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on INVX shares. Pickering Energy Partners raised Innovex International from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. Barclays raised their target price on shares of 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 Price Performance

Shares of INVX traded down $0.02 during midday trading on Monday, reaching $15.89. The stock had a trading volume of 312,602 shares, compared to its average volume of 417,827. The company has a quick ratio of 2.17, a current ratio of 3.87 and a debt-to-equity ratio of 0.01. The firm has a market cap of $1.10 billion, a P/E ratio of 11.27 and a beta of 0.78. The firm has a 50 day moving average of $16.82. Innovex International, Inc. has a 52 week low of $12.54 and a 52 week high of $20.14.

Innovex International (NYSE:INVX - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $0.47 earnings per share 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.