Innovex International, Inc. $INVX Stake Lessened by Fisher Asset Management LLC

Fisher Asset Management LLC lowered its holdings in Innovex International, Inc. (NYSE:INVX) by 11.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 201,668 shares of the company’s stock after selling 27,219 shares during the period. Fisher Asset Management LLC owned approximately 0.29% of Innovex International worth $4,410,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of INVX. Wellington Management Group LLP lifted its holdings in shares of Innovex International by 52.4% in the third quarter. Wellington Management Group LLP now owns 2,434,808 shares of the company’s stock valued at $45,141,000 after purchasing an additional 837,027 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Innovex International in the fourth quarter valued at $12,702,000. Bridgeway Capital Management LLC lifted its holdings in shares of Innovex International by 371.9% in the second quarter. Bridgeway Capital Management LLC now owns 344,178 shares of the company’s stock valued at $5,376,000 after purchasing an additional 271,247 shares in the last quarter. Avidian Wealth Enterprises LLC purchased a new stake in shares of Innovex International in the fourth quarter valued at $5,821,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Innovex International by 12.0% in the third quarter. Dimensional Fund Advisors LP now owns 2,153,272 shares of the company’s stock valued at $39,921,000 after purchasing an additional 230,393 shares in the last quarter.

Innovex International Price Performance

Shares of NYSE:INVX opened at $26.93 on Friday. The company has a current ratio of 5.10, a quick ratio of 3.38 and a debt-to-equity ratio of 0.02. Innovex International, Inc. has a 1 year low of $13.44 and a 1 year high of $32.25. The business has a fifty day simple moving average of $26.74 and a 200 day simple moving average of $24.91. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 35.90 and a beta of 0.84.

Innovex International (NYSE:INVX) last posted its earnings results on Monday, February 23rd. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.29 by ($0.09). The business had revenue of $273.60 million for the quarter, compared to analyst estimates of $240.00 million. Innovex International had a return on equity of 6.72% and a net margin of 5.31%. As a group, sell-side analysts predict that Innovex International, Inc. will post 1.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

INVX has been the subject of several recent research reports. Zacks Research upgraded Innovex International from a “strong sell” rating to a “hold” rating in a report on Monday, May 18th. Weiss Ratings lowered Innovex International from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Piper Sandler increased their price objective on Innovex International from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Monday, May 18th. Barclays increased their price objective on Innovex International from $24.00 to $26.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Finally, Citigroup started coverage on Innovex International in a report on Thursday, May 7th. They set a “buy” rating and a $35.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $31.67.

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.