Geode Capital Management LLC Has $14.41 Million Stake in Innovex International, Inc. $INVX

Geode Capital Management LLC boosted its stake in Innovex International, Inc. (NYSE:INVX) by 5.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 922,305 shares of the company’s stock after acquiring an additional 45,174 shares during the quarter. Geode Capital Management LLC’s holdings in Innovex International were worth $14,408,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in shares of Innovex International by 29.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 37,883 shares of the company’s stock valued at $680,000 after purchasing an additional 8,507 shares during the period. US Bancorp DE grew its holdings in shares of Innovex International by 234.0% during the first quarter. US Bancorp DE now owns 1,533 shares of the company’s stock worth $28,000 after buying an additional 1,074 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Innovex International by 15.6% during the first quarter. PNC Financial Services Group Inc. now owns 5,880 shares of the company’s stock worth $106,000 after buying an additional 794 shares in the last quarter. New Age Alpha Advisors LLC acquired a new stake in Innovex International in the 1st quarter valued at approximately $1,467,000. Finally, Vanguard Group Inc. lifted its stake in Innovex International by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 4,306,348 shares of the company’s stock valued at $77,342,000 after acquiring an additional 43,343 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Innovex International in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $16.50.

Innovex International Price Performance

Shares of NYSE INVX opened at $22.59 on Tuesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.60 and a quick ratio of 2.69. The business has a 50-day moving average of $19.89 and a 200-day moving average of $17.41. The stock has a market capitalization of $1.56 billion, a price-to-earnings ratio of 7.81 and a beta of 0.77. Innovex International, Inc. has a fifty-two week low of $11.93 and a fifty-two week high of $22.99.

Innovex International (NYSE:INVX) last released its earnings results on Wednesday, February 23rd. The company reported ($0.12) earnings per share (EPS) for the quarter. Innovex International had a return on equity of 8.58% and a net margin of 16.66%.The company had revenue of $87.23 million for the quarter.

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.