Wellington Management Group LLP Acquires Shares of 119,200 Innovex International, Inc. (NYSE:INVX)

Wellington Management Group LLP purchased a new position in shares of Innovex International, Inc. (NYSE:INVX - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 119,200 shares of the company's stock, valued at approximately $1,665,000. Wellington Management Group LLP owned 0.18% of Innovex International as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Brandes Investment Partners LP grew its holdings in Innovex International by 41.3% during the 4th quarter. Brandes Investment Partners LP now owns 6,304,068 shares of the company's stock valued at $88,068,000 after buying an additional 1,841,686 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Innovex International by 5.5% in the fourth quarter. Vanguard Group Inc. now owns 4,263,005 shares of the company's stock valued at $59,554,000 after acquiring an additional 221,598 shares during the period. Principal Financial Group Inc. purchased a new position in Innovex International during the third quarter valued at approximately $2,383,000. JPMorgan Chase & Co. bought a new stake in Innovex International during the 3rd quarter worth approximately $2,261,000. Finally, Acuitas Investments LLC lifted its stake in Innovex International by 56.1% in the 4th quarter. Acuitas Investments LLC now owns 240,309 shares of the company's stock worth $3,357,000 after purchasing an additional 86,382 shares in the last quarter.

Innovex International Price Performance

INVX stock traded up $0.61 during mid-day trading on Friday, hitting $15.88. 391,789 shares of the stock were exchanged, compared to its average volume of 425,141. The firm's fifty day simple moving average is $16.95. Innovex International, Inc. has a 12 month low of $12.54 and a 12 month 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 company has a market cap of $1.10 billion, a PE ratio of 11.26 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.21. The business had revenue of $250.69 million during the quarter. Innovex International had a negative return on equity of 0.73% and a net margin of 12.31%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on INVX. Barclays upped their target price on Innovex International from $15.00 to $16.00 and gave the stock an "underweight" rating in a research note on Wednesday, March 5th. Pickering Energy Partners upgraded shares of Innovex International from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, January 14th.

About Innovex International

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.