Intech Investment Management LLC Purchases 9,531 Shares of Innovex International, Inc. (NYSE:INVX)

Intech Investment Management LLC grew its position in shares of Innovex International, Inc. (NYSE:INVX) by 84.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,794 shares of the company’s stock after acquiring an additional 9,531 shares during the quarter. Intech Investment Management LLC’s holdings in Innovex International were worth $290,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Thrivent Financial for Lutherans boosted its holdings in Innovex International by 7.6% during the fourth quarter. Thrivent Financial for Lutherans now owns 29,107 shares of the company’s stock worth $407,000 after purchasing an additional 2,052 shares during the last quarter. William Blair Investment Management LLC lifted its position in Innovex International by 1.9% during the 4th quarter. William Blair Investment Management LLC now owns 1,345,885 shares of the company’s stock worth $18,802,000 after buying an additional 24,944 shares in the last quarter. Clayton Partners LLC acquired a new position in shares of Innovex International during the 4th quarter worth about $349,000. Brandes Investment Partners LP grew its holdings in shares of Innovex International by 41.3% in the 4th quarter. Brandes Investment Partners LP now owns 6,304,068 shares of the company’s stock valued at $88,068,000 after acquiring an additional 1,841,686 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Innovex International by 2.3% in the fourth quarter. Swiss National Bank now owns 65,500 shares of the company’s stock valued at $915,000 after acquiring an additional 1,500 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Innovex International Stock Performance

Shares of NYSE:INVX opened at $18.10 on Thursday. Innovex International, Inc. has a 52-week low of $12.54 and a 52-week high of $24.09. 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 firm has a market cap of $1.25 billion, a P/E ratio of 12.84 and a beta of 0.83. The firm has a 50-day moving average price of $17.17.

Innovex International (NYSE:INVX) last released its quarterly earnings data on Tuesday, February 25th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.21. The company 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%.

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.