Ameriprise Financial Inc. Trims Holdings in Innovex International, Inc. (NYSE:INVX)

Ameriprise Financial Inc. lessened its holdings in shares of Innovex International, Inc. (NYSE:INVX - Free Report) by 23.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 268,552 shares of the company's stock after selling 83,378 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.40% of Innovex International worth $3,752,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brandes Investment Partners LP lifted its position in shares of Innovex International by 41.3% during the 4th quarter. Brandes Investment Partners LP now owns 6,304,068 shares of the company's stock worth $88,068,000 after buying an additional 1,841,686 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Innovex International by 5.5% during the 4th quarter. Vanguard Group Inc. now owns 4,263,005 shares of the company's stock worth $59,554,000 after buying an additional 221,598 shares during the last quarter. Invesco Ltd. lifted its position in shares of Innovex International by 175.8% during the 4th quarter. Invesco Ltd. now owns 332,468 shares of the company's stock worth $4,645,000 after buying an additional 211,907 shares during the last quarter. CenterBook Partners LP increased its holdings in Innovex International by 136.2% in the 4th quarter. CenterBook Partners LP now owns 254,149 shares of the company's stock worth $3,550,000 after purchasing an additional 146,544 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in Innovex International by 325.4% in the 4th quarter. Jane Street Group LLC now owns 177,512 shares of the company's stock worth $2,480,000 after purchasing an additional 135,780 shares in the last quarter.

Analysts Set New Price Targets

Separately, Barclays lowered their target price on Innovex International from $16.00 to $13.00 and set an "underweight" rating for the company in a report on Friday, May 9th.

Innovex International Trading Down 0.6%

NYSE INVX traded down $0.09 during trading hours on Thursday, hitting $13.92. 327,914 shares of the company's stock were exchanged, compared to its average volume of 403,873. The firm has a 50-day moving average of $15.54. The stock has a market cap of $960.19 million, a price-to-earnings ratio of 9.87 and a beta of 0.80. 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, Inc. has a 1-year low of $11.93 and a 1-year high of $19.42.

Innovex International (NYSE:INVX - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.03). The company had revenue of $240.42 million during the quarter, compared to the consensus estimate of $247.73 million. Innovex International had a net margin of 12.31% and a negative return on equity of 0.73%.

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.