UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Holdings in Innovex International, Inc. (NYSE:INVX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its stake in shares of Innovex International, Inc. (NYSE:INVX) by 9.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 87,824 shares of the company’s stock after selling 9,441 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Innovex International were worth $1,227,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Brandes Investment Partners LP raised its position 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 valued at $88,068,000 after buying an additional 1,841,686 shares during the last quarter. Vanguard Group Inc. raised 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 buying an additional 221,598 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Innovex International by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,940,375 shares of the company’s stock valued at $27,107,000 after buying an additional 27,726 shares during the last quarter. Madison Avenue Partners LP raised its position in shares of Innovex International by 64.6% in the fourth quarter. Madison Avenue Partners LP now owns 1,686,476 shares of the company’s stock valued at $23,560,000 after buying an additional 662,009 shares during the last quarter. Finally, William Blair Investment Management LLC raised its position in shares of Innovex International by 1.9% in the fourth quarter. William Blair Investment Management LLC now owns 1,345,885 shares of the company’s stock valued at $18,802,000 after buying an additional 24,944 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on INVX shares. Johnson Rice upgraded shares of Innovex International to a “strong-buy” rating in a research report on Friday, May 30th. Wall Street Zen upgraded shares of Innovex International from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Barclays cut their price objective on shares of Innovex International from $16.00 to $13.00 and set an “underweight” rating for the company in a research report on Friday, May 9th.

Innovex International Price Performance

Innovex International stock opened at $16.01 on Tuesday. Innovex International, Inc. has a 12-month low of $11.93 and a 12-month high of $19.42. The stock has a market cap of $1.10 billion, a P/E ratio of 11.35 and a beta of 0.79. The company has a 50-day moving average price of $15.04 and a 200 day moving average price of $15.80. The company has a current ratio of 3.87, a quick ratio of 2.17 and a debt-to-equity ratio of 0.01.

Innovex International (NYSE:INVX) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.03). Innovex International had a negative return on equity of 0.73% and a net margin of 12.31%. The firm had revenue of $240.42 million for the quarter, compared to analyst estimates of $247.73 million.

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.